| Whether or not lending or financial institution will give | | | | your credit reports. Identify which points of the reports |
| you a loan or credit depends on your credit score. | | | | are wrong and tell them why. A good stategy is to |
| Your credit score is based on how you pay off your | | | | give the credit bureaus photocopies of their reports |
| previous and existing loans. It gives lender a pretty | | | | and encircling the mistakes. Don't forget to supply the |
| good picture of how good you are at managing and | | | | correct entries to the mistakes. Keep all documents |
| paying off your debts. | | | | and forms you send to the credit bureaus and keep |
| While you are alive and functioning in society, your | | | | note of the dates. The credit bureaus must look into |
| credit score changes. Your decisions regarding your | | | | and investigate all credit disputes within 30 days. If a |
| debt will lower or raise your credit score. Making good | | | | dispute is not verified by a creditor, it must be |
| financial decisions may help raise your credit score. | | | | automatically removed from the report. You can also |
| Here are some steps you can take towards improving | | | | go to the creditors themselves and try to resolve any |
| your credit score: | | | | mistakes directly. If any changes are made to your |
| | | | credit report, the responsible credit bureau will send |
| 1. Find out your credit report The 3 credit bureaus, | | | | you a free copy of the revised report. Negative entries |
| Equifax, TransUnion, and Experian have their own | | | | that have been removed cannot be put back in the |
| reports regarding your creditworthiness. They may | | | | report unless the creditors can verify accuracy and |
| have different reports because they may not have | | | | completeness of the entry. They should also send you |
| the same kind of information as creditors don't need to | | | | written notice that they are going to do so. |
| report to each and every one of them. If you have | | | | 4. Solve and Dissolve debt Find ways to finally get rid |
| been denied credit or employment because of your | | | | of your debts. Resolve all unpaid debts by negotiating |
| credit score, you are entitled to ask for a copy of that | | | | for longer payment schemes and lower interest rates. |
| report from the credit bureau because the company | | | | Avoid getting a delinquent or bad credit standing. When |
| you applied to is required by law to submit the name | | | | you've paid off your credit debt, consider getting rid of |
| of credit bureau they got the report from. | | | | your cards. |
| 2. Study your reports from all 3 bureaus carefully The | | | | 5. Stabilize your credit file Make sure your credit |
| job of a credit bureau is to report on information | | | | records are updated and complete. Sometimes, |
| supplied by you creditors. Since they don't verify the | | | | creditors don't report to credit bureaus so it's up to you |
| information they receive there may be some mistakes | | | | to make sure they do. |
| in the information given. It may sound unfair but keeping | | | | Try to re-establish good credit especially if you've had |
| your credit report a true reflection of your | | | | bad credit previously. You'll improve your credit score |
| creditworthiness is your job. Be meticulous in making | | | | faster if you keep your credit active and in good |
| sure all information such as dates and figures are | | | | standing. |
| correct. Make a list of items you want to dispute and | | | | The best way to show creditors that you're a good |
| be ready to defend your claims. | | | | credit risk is if you have enough money in the bank to |
| 3. Dispute and Document, the Double-D strategy Be | | | | show that you save and that you're able to pay them |
| very thorough in documenting all mistakes you find in | | | | off. |