Cleaning Up Your Credit Plr Ebook

Table of Contents

CONTENTS

1 WHAT’S ON YOUR CREDIT REPORT? 4
WHAT IS IT? 4
HOW TO GET YOUR CREDIT REPORT 6
WHAT’S ON YOUR REPORT? 8

2 LOCATE THE CREDIT REPORT MISTAKES 11
WHY ARE THERE MISTAKES? 11
TYPES OF CREDIT MISTAKES TO FIND 13
TAKE IT STEP BY STEP 18

3 HOW TO CLEAN IT UP 20
CONTACTING THE CREDIT BUREAUS 21
YOU’VE FOUND THE PROBLEM: NOW WHAT? 22

4 10 WAYS TO IMPROVE YOUR CREDIT SCORE 27
#1: MONITOR YOUR CREDIT REPORT 28
#2: USE CREDIT WISELY 29
#3: PAY YOUR DEBT DOWN 30
#4: MONITOR AND LIMIT INQUIRIES 31
#5: DON’T OVER OBTAIN 32
#6: DO USE CREDIT 33
#7: PAY MORE THAN MINIMUM PAYMENTS 34
#8: BUILD CREDIT WITH SECURED CREDIT CARDS 35
#9: KNOW WHEN YOU NEED HELP 36
#10: LIVE THE LIFESTYLE YOU CAN AFFORD 37

5 IT TAKES TIME 39
TIPS FOR INCREASING YOUR CREDIT SCORE QUICKLY 40

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1
WHAT’S ON YOUR CREDIT REPORT?

Your credit report is an essential part of your day to day life, even if you may not realize it at first. Your credit report is used by credit lenders, home mortgage lenders, insurance companies and even employers when each of them determine if they should, or should not, work with you. Do you know what is on your credit report? If not, there has never been a better time than right now to find out.

WHAT IS IT?

The first question that must be answered is the most important. What is your credit report? A credit report is a collection of information about you. This information is centered around your specific ability and experience with credit use. Credit, a form of money that is given to individuals to spend and repay over time, is given by lenders only if they believe you are a good risk to them. Every lender must define what level of risk is acceptable to them, but they base their decisions on the past usage of credit by you.

Let’s explain. Over time, creditors lend to hundreds and thousands of people. They develop specific algorithms that help them define who is a credit risk by looking at the patterns in the way that individuals spend using credit. They determine how much risk they are willing to take to work with people. Risk is a calculated tool for lenders. The more risk you are, the more they can charge in the form of interest rates and fees. On the other hand, if there is too much risk from an individual, that individual is unlikely to repay their debts and the lender stands to lose money instead of making it.