Credit Scores Talk!
Hi. I’m your bad credit score.
No, really. It might seem odd, but credit scores talk. In fact, it’s all we can do. I don’t mean to scare you, but when you want to apply for a loan of any kind, finance a car or home, or even try to obtain a credit card, the institution you applied to will always come calling on Me. And though you and I are very close, I cannot tell a lie.
Whether you’re behind because of medical bills or unemployment, whether it’s a high balance on credit cards, overdue payments, or even failing to return rented movies… somehow, I’m in bad shape. And I follow you everywhere.
Unfortunately, there is no “magic wand” you can wave for accurate negative credit reports to go away. However, there are some options that could get me back into shape, and I can tell everyone how dependable you are, and what a good idea it is to lend you money.
First of all, I don’t want you to think I’m talking bad about you behind your back. So, the first step you should take is to check your credit report. This can be done for free, once a year, by visiting http://www.annualcreditreport.com. You can take a look at your report in detail. Make sure you visit this exact website. It is the only online source authorized by the Federal Trade Commission, and some websites will claim to offer free services - IF you agree to pay for a different service.
Look closely at each item and make sure that no wrongful reporting has taken place, or that you are being charged for services you never purchased. Identity theft can happen, and when it does, even I can be fooled! So, any questions you have or “red flags” you see on the report should be brought to the attention of the agency from where you requested the report.
Once you’re sure that your credit report is accurate, you can start building me up again by taking out small, secured loans. Making small purchases with credit and paying them off on time can also bring me back up. If you know someone with good credit that would be willing to cosign on a loan application, that says good things about you–and, provided you make payments on time, I will say better things about you.
Lastly, if any of this is in any way confusing to you, it may be in your best interest to contact a credit repair or debt consolidation institution. Their experts can help explain what you need to know, and either do it for your, or show you how to do it.
Now, I don’t want to say anything poorly about you. In fact, I want to help you do everything you want to do! But as I said. I’m all talk. The action is up to you.
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