| When you decide too apply a loan, it is always a good | | | | may go low because of your past credit history. You |
| idea before you do apply to first check your credit | | | | may have unpaid loans or have incurred late |
| score. By doing this first, it will give you a good idea if | | | | payments in your credit card, then if this is so, you |
| your application will be approved or not and just how | | | | have to pay them. |
| high the interest will be on your repayments. | | | | Any adverse credit history will be in your credit report |
| Do you know how to check your credit score? Well it | | | | for the next 7 years, while filing for bankruptcy lasts |
| is quite easy and free to do, you will need to get it | | | | for about ten years, so you can not run away from it. |
| from a credit score agency. There are three available | | | | You may have to find some extra money to do this. |
| to you, these are Experian, Equifax or Transunion. All | | | | This can be done by working some overtime, getting a |
| you need to do is register at one or all of there | | | | second job, learning to cut on your expenses or as a |
| websites and request a copy of your credit file, this is | | | | last resort selling some of your valuables. If you are |
| absolutely free for you to do. | | | | unsure what to do, then ask for help as there are |
| Your credit score will range from 350 to 750 points, | | | | financial advisers that are willing to help you go through |
| the higher it is then lower the interest will be on your | | | | this difficult time. |
| repayments. If your score is below 700, then you really | | | | If your financial situation is not that bad, then it is best |
| need to look at ways to improve on it. | | | | to make a deal with your creditors so nothing adverse |
| The way to do this is, get a copy of your credit file | | | | will not appear on your record. If you do make a deal |
| and review it. Check for any errors in it and if there | | | | with them, stick to it! Because if you do not they will |
| are any, you should call the credit agency to report the | | | | not be so generous the next time this happens. |
| error and then send the supporting documents by mail | | | | After a year has past, you should request for a new |
| to them. This is quite an easy process to do. | | | | copy of your credit report, this to see if the steps you |
| Never ever send your original documents, this is | | | | have taken have paid off. If you see a some |
| because if they get lost in transit, you will have nothing | | | | improvement from the year before, you know you are |
| left to prove your claims, so always send photocopies. | | | | on the right track and will not have a problem anymore |
| Once the credit agency receives your documents, | | | | applying for a loan. |
| they will conduct an investigation into the matter. Once | | | | Checking your credit score is free to do and |
| they check and find that it is an error, it is immediately | | | | something you should do on a regular basis, all you |
| removed from your record and a revised copy will be | | | | need to do is get a copy from a crediting agency. It is |
| sent to you free of charge. | | | | advised to always get a copy of your credit score |
| But if the report is correct, then you will need to take | | | | from all three agency's at the same time and to do |
| the appropriate steps to remove it. Your credit score | | | | this every few months. |