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Credit Reports
Credit reports are, quite simply, electronic records of your credit activities. These activities can range from borrowing money to buy a car to applying for a loan or credit card or missing payments on loans you have taken. The report is generated...
Home Equity Loan or Home Equity Line of Credit – Which is right for you?
The most common type of home equity loan is the term loan. This loan is set for a fixed amount of time, anywhere from five to fifteen years. Such loans are typically granted for up to 80% of the value of the home, but some lenders will lend up to...
How To Survive In A Plastic World, Qualifying For Credit Card.
Let’s face it, having credit is no longer a choice. “Don’t leave home without it” is more like “can’t buy a home without it.” Your credit now determines the neighborhood you live in, the kind of car you drive and, sometimes, even whether or not you...
Secured Loan for People with Bad Credit History
Are you facing problem getting a loan, just because you have a
bad credit history? If yes, then there is good news for you. Now
you can avail a loan specially designed for people like you,
popularly known as "Bad Credit Secured Loan".
A...
Stop Think and Listen when Repairing Credit
One of the best tools for repairing credit is to stop, think,
and listen. If you are in debt, you need to stop and think about
your situation and stay alert to the activities on your credit
report. In this article, we are going to examine...
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Learn How to Repair a Bad Credit Rating
===================================================
Learn How to Repair a Bad Credit Rating
You may have discovered that if you have a bad credit rating, it
is extremely difficult for you to get financing, loans, and
perhaps even employment. And having a bad credit rating often
leaves you feeling helpless and feeling like there is nothing
much you can do about it.
However, that is simply not the case and it is very possible to
not only get by with a bad credit rating but actually repair
your bad credit rating. And it doesnt have to be difficult. You
first need to understand exactly what your credit rating is and
what it says about you to your potential creditors. Your lenders
and creditors report your payment history, which is used to
determine your credit score. Your credit score is a numerical
value based on the number of positive and negative reports
submitted by your creditors. A high number indicates a good
credit rating, while a low number indicates a bad credit rating.
Your credit rating may change depending on the reporting
periods, which may be monthly or quaterly. This means if you
take positive action, a change for the better can and will be
reflected over a period of time. Where do you start? Well, if
you want to repair a bad credit rating, start by obtaining a
copy of your credit report. Your credit report will show
the
lenders who made negative reports and reported late payments and
missed payments. These are likely the causes of your bad credit
rating. You will want to contact the creditors who have reported
you for non-payment and arrange a repayment schedule with them.
Make sure that all your current accounts are up to date, so as
not to invite any more negative credit reports. In other words
don't continue to fall behind on your payments! Consistent
repayment of your debts over a period of time will gradually
lead to positive reports of your debts being paid, while the
rest of your accounts will continue to be in good standing since
you are now making your payments on time.
Over a period of a few months, you should have more positive
reports and less negative reports which will help tremendously
with your bad credit score. Although to completely eliminate and
get rid of your bad credit score, you will have to ensure that
you do not miss any more payments and that you continue to make
your payements on time. This strategy is a surefire way to
repair a bad credit rating.
===================================================
About the author:
Hanif Khaki is the sought after author of numerous finance
related articles and the founder of the popular Credit resource
site www.credit-repair.extra-information.com.
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| AnnualCreditReport |
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| National Credit Union Administration - Home Page |
| An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
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| Credit - Wikipedia, the free encyclopedia |
| Debits and Credits, a type of bookkeeping entry; Credit (creative arts), acknowledging the ideas or ... Retrieved from "http://en.wikipedia.org/wiki/Credit" ... |
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| Credit (finance) - Wikipedia, the free encyclopedia |
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| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
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| The Credit Card Prank |
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| Credit magazine, corporate bonds, derivatives, structured credit ... |
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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
| www.cuna.org |
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| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
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