Bad Credit Scores - How To Build Your Credit Score Back To A Respectable Number

A credit score becomes applicable whenever you transact in the open market to obtain

any kind of financial services or credit for the purchase of any asset. There are credit reporting agencies which sell information to the bureaus about the kind of track record the individual has maintained. For example, if the person has not been paying his bills on time, has a criminal record, has filed for bankruptcy etc. are part of your record. These kinds of information constitute the report of a person's credit score. All creditors and financial service providers go through the credit report before they go ahead and quote a cost for the goods or the services they are selling to the customer.

As we all are responsible for ourselves. It is also our moral responsibility to have no bad credit scores for ourselves. A good score helps us in getting a better APR for the loan that we wish to take and it also helps us in getting a lower premium for the insurance that we may need. There are many times that wrong information has been put across in a person's credit report which shows poor performance of the individual financially and lead to bad credit scores. This can hamper any new financial relationship the person might be thinking of getting into.

The following can be done to improve bad credit scores.

1.The customer can get a free credit report from the credit bureau each year.

2.The customer must analyze his report and try to find out those points which are derogatory and hampering his ranking.

3.Next you must find out those which are not true.

4.The customer must send a written letter to the bureau telling them that these points are not true and should be removed from his report.

5.The bureau takes 30 days to investigate the disputed points and in which they even inform the agency who has given them the information to validate the point.

6.It might be that the credit giving agency does not do the necessary in one follow up. Therefore the process has to be repeated time and again till everything is done.

This process is helpful and many customers have reaped the benefit of the situation. The customer can also take the help of a professional credit repair agency. They will help the customer to mend bad credit scores. Care should be taken of the fact that any illegitimate company should not be chosen for this purpose as it would only complicate things for the customer.

The process to erase bad credit can be time consuming. If you are working within a certain time frame and need a faster process, options are available. Reading through your credit report and eliminating the negative marks, through disputation, can erase bad credit. Visit the following link for more information on how to repair your credit quickly and legally:

Increase Credit Score

by: William Roberts

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