First Time Home Buyers
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Why your payment status needs to be reviewed for innacuracies and included in your dispute letter.
You should have written a dispute letter if you feel a former or current account is being reported innacurately by the credit bureau.
Items that may be corrected (dispute letter) and can help optomize your score:
1.) Correcting the payment status of accounts that should [...]
Continue Reading →Obtaining your credit report:
As a consumer you are entitled to one free credit report per year from each of the big 3 credit bureaus. We recommend www.annualcreditreport.com
Make sure your credit report contains all three credit b
Continue Reading →Collections and Public Records
This includes bankruptcies, judgments, and tax liens.
You would be amazed at how many times our borrowers apply for financing only to find out a tax lien that had been discharged or released many years ago still is being reported as owed. These are one of the biggest credit score killers out [...]
Continue Reading →Reviewing Your Credit Report for accurate information
Make sure you clearly identify each item from your report that, to your knowledge, is innacurate.
Circle any errors you see in your report. What you want to review:
- Account opened dates
- Dates of last activity
- Any Invalid or unknown accounts (identity theft) [...]
Changes to your available credit
1.) Opening a new revolving account can help you. By establishing a new credit line history and keeping it in good payment status can help optomize your score. However, make sure you don’t run your new line of credit over half the available credit line and make sure you make [...]
Continue Reading →Limiting your credit inquiries
A credit inquiry is reported any time you apply for new credit. When you go out there and apply for a number of credit items, it decreases your score because it essentially says you are trying to add more items to your credit profile that have to potential for you to default on.
This is [...]
Continue Reading →Writing your dispute letter
Your dispute letter will need to include the following:
– Your Name, Address, and Telephone number
- Your Social Security number or a clean copy of your actual credit report
- Company Name and Account number of the item you are disputing
- Brief explanation (20 words or less) [...]
The Follow Up
After you send your dispute letter you can expect a couple of things. By law, the credit bureau must investigate all of your disputes with each of the individual creditor accounts you disputed.
In about 30 days or so after you send your letter, the credit bureau is required to send [...]
Continue Reading →What is a credit score?A three digit number that lenders use to decide whether or not they want to lend you money.The higher the score, the better your credit rating. In general, a credit score can range from 300 to 850. Most scores fall within the 600s and 700s. The boundary between a standard loan [...]
Continue Reading →A consumer credit report is a factual record of an individual’s credit payment history. Its main purpose is to help a lender quickly and objectively decide whether to grant you credit.If you have any type of a charge account, car loan, student loan or home mortgage, then information about you is probably stored in a [...]
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