The Importance Of Checking Your Credit Score

July 31, 2011 by  Filed under: Credit 

If you are already short on cash you will need to take drastic measures to ensure you can pay all of your debts in order to improve your credit score. If you don’t know what to do, it wouldn’t hurt to swallow your pride and ask for help as there are financial advisers that are willing to help you go through this time. If you are not in a bad financial standing then it may be possible to make arrangements with your creditors to pay off those old bills. Just make sure you stick to the bargain because if you fail to do so, don’t expect them to be so generous the next time this happens.

If you are already short on cash you will need to take drastic measures to ensure you can pay all of your debts in order to improve your credit score. If you don’t know what to do, it wouldn’t hurt to swallow your pride and ask for help as there are financial advisers that are willing to help you go through this time. If you are not in a bad financial standing then it may be possible to make arrangements with your creditors to pay off those old bills. Just make sure you stick to the bargain because if you fail to do so, don’t expect them to be so generous the next time this happens.

A year later, you can request for a new copy of your credit report to see if the steps you have taken have paid off. If you see a significant improvement versus the year before, you know you are doing something right and you wont have a problem anymore applying for a loan. Everyone should check their credit score regularly. there are three to choose from and you can get a copy from all three at the same time or every few months. The 3 credit agencies have different ways of calculating credit scores but they all prove whether or not a person has good credit.

So what resources do I need to use to check my credit score? In order to get your credit report you will need to contact a credit agency. There are only three credit agencies that give credit reports and they are Experian, Equifax, and Transuion. If you register for an account at any of these three sites you can receive a free copy of your credit report. If you do not know your credit score, it will typically range between 350 to 750 points of course the highest score is best. If you find out your score is not close to the 700 range please know you need to do something to improve it. You do that by knowing your current credit score and then reviewing it. You may discover mistakes on your report and if you do try and get them corrected. The best way to get those mistakes corrected is to call the credit agency and give them any supporting paperwork. Never send the original copies because if they lose it, you have nothing left to support your claims so send photocopies.

There are three to choose from and you can get a copy from all three at the same time or every few months. Just make sure you stick to the bargain because if you fail to do so, dont expect them to be so generous the next time this happens. If you are not in a bad financial standing then it may be possible to make arrangements with your creditors to pay off those old bills

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