Without question, the most important thing to having a clean credit report is the actual information that is contained in your report.
This file contains all of your financial history in a detailed manner.
Normally, this report carries a score with it ranking somewhere between 300 and 850 points.
Nearly every lender or lending institution uses this score to determine if someone presents a credit risk and is worthy to of receiving credit based on their previous ability to pay off prior loans and debts.
For this very reason it is important to ensure that you maintain a clean credit report because your financial survival depends on it.
Normally the first entry on your credit report focuses on your personal information.
It should include the following data - your name, phone numbers, addresses (previous and current), your social security number, employers (past and present) and your date of birth.
Next, the information that pertains to your credit accounts follows.
This data is includes all of your loans to include the maximum loan and any joint account holder information should it pertain to you.
One special section is also included which covers any specific inquiries from companies or agencies that have recently requested a copy of your credit report.
You may also see some public record information depending on which state you are located or residing in.
This information could include but is not limited to bankruptcies, court proceedings, overdue payments and any other public record information that may be derogatory in nature.
Usually, these type of entries will stay on your credit report anywhere from seven to ten years and as you would expect, they do negatively affect your ability to obtain a loan or credit.
How To Clean Your Credit Report In order to eradicate any negative information from your credit report you should first order a free copy of your record from each of the three credit bureaus.
Once you have received your reports you will need to conduct a thorough and detailed analysis in order to determine what information is inaccurate, wrong or erroneous.
Once you have identified these errors you can dispute the information by sending a letter to each bureau requesting that the data be removed or corrected.
Unfortunately, this process may take some time and will most likely require several follow-up letters or inquirers.
Remember, the first step requires that you order your credit report.
This can be easily accomplished because you are able to order one free credit report every year based on the FCRA or Fair Credit Reporting Act from each of the credit reporting agencies.
These agencies are Experian, TransUnion, and Equifax.
Because the bureaus can make mistakes with names, addresses or employers it is vital that you make sure all of the information on your report is you own and that it doesn't belong to someone else with the same name as yourself.
Don't stop with this single credit checkup.
Instead, get in the habit of ordering your report every year in order to find and dispute any inaccurate or erroneous information.
If you perform this simple task and make every attempt to ensure you pay all of your bills on time avoiding late payments.
By following these procedures you should be able to add 50 points to your credit report every year.
This file contains all of your financial history in a detailed manner.
Normally, this report carries a score with it ranking somewhere between 300 and 850 points.
Nearly every lender or lending institution uses this score to determine if someone presents a credit risk and is worthy to of receiving credit based on their previous ability to pay off prior loans and debts.
For this very reason it is important to ensure that you maintain a clean credit report because your financial survival depends on it.
Normally the first entry on your credit report focuses on your personal information.
It should include the following data - your name, phone numbers, addresses (previous and current), your social security number, employers (past and present) and your date of birth.
Next, the information that pertains to your credit accounts follows.
This data is includes all of your loans to include the maximum loan and any joint account holder information should it pertain to you.
One special section is also included which covers any specific inquiries from companies or agencies that have recently requested a copy of your credit report.
You may also see some public record information depending on which state you are located or residing in.
This information could include but is not limited to bankruptcies, court proceedings, overdue payments and any other public record information that may be derogatory in nature.
Usually, these type of entries will stay on your credit report anywhere from seven to ten years and as you would expect, they do negatively affect your ability to obtain a loan or credit.
How To Clean Your Credit Report In order to eradicate any negative information from your credit report you should first order a free copy of your record from each of the three credit bureaus.
Once you have received your reports you will need to conduct a thorough and detailed analysis in order to determine what information is inaccurate, wrong or erroneous.
Once you have identified these errors you can dispute the information by sending a letter to each bureau requesting that the data be removed or corrected.
Unfortunately, this process may take some time and will most likely require several follow-up letters or inquirers.
Remember, the first step requires that you order your credit report.
This can be easily accomplished because you are able to order one free credit report every year based on the FCRA or Fair Credit Reporting Act from each of the credit reporting agencies.
These agencies are Experian, TransUnion, and Equifax.
Because the bureaus can make mistakes with names, addresses or employers it is vital that you make sure all of the information on your report is you own and that it doesn't belong to someone else with the same name as yourself.
Don't stop with this single credit checkup.
Instead, get in the habit of ordering your report every year in order to find and dispute any inaccurate or erroneous information.
If you perform this simple task and make every attempt to ensure you pay all of your bills on time avoiding late payments.
By following these procedures you should be able to add 50 points to your credit report every year.
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