How can I rebuild my credit?
The key to financial power lies in your credit rating. If you plan to get a home loan, save money and get better credit starting now!
The first thing you have to do is get a copy of your credit report. You can find a website that will get that for you at N/C. If your going to fix your credit, you need to see who is making what claims against you. Next your need to contact each of the company''s that have said negative things and find out what you must do to get them to erase the negative reporting. If it is really messy, you will have to get a credit councilor to help you thru this. Credit Councilors can sometimes negotiate settlements with those posting negatives about your credit. But first start with a copy of your credit report.
How can I rebuild my credit?Get your copies of your credit report from all three agencies, Experian, TRW, and Equifax. Pay off any outstanding bad debt, such as the hot checks and anything else you may have forgotten about. (The credit reporting agencies didn't forget) If there's anything on those reports that shouldn't be there, you have the right to dispute it.
Stop applying for credit, because each time somebody requests a credit check, it counts as a hit. One or two credit checks by themselves are not bad, but when you get several in a short time, it sends a signal.
Do not give out your social security number unless absolutely necessary.
Let your credit activity settle down and start at a credit union or with some type of secured loan. Do not request a signature loan at this time. A department store revolving charge card would be the next step. Take these steps slowly and keep track of your credit reports. Also, the statute of limitations erases most items over seven years old in most states.
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