Family Issues

Rather than try to futilely escape the process of credit checks, why not simply try to beat and win? If the key to passing credit checks is within reach, why not take it? Let’s see. The only reason why you could be afraid of undergoing credit checks is when you have something to hide. Do you? Or maybe, you just don’t know whether your credit reputation is either good or bad so you’re still feeling 50/50 about your chances of passing credit checks. But no matter because the only way to conquer fear is to face fear itself. And here’s how you shall do it.

Step Uno requires you to know about your present FICO scores. Ask any finance whiz and they’ll tell you that passing credit checks would always come down to your FICO scores. And whether you have a good or bad FICO score, it’s always best for the individual to consistently check your FICO scores because the earlier you can correct mistakes or errors in your report, the better. When I say regular, doing it semi-annually is good enough.

Now, back to your FICO scores: there are what we like to call the Magic Three credit bureaus in the country and each credit bureau has its own credit rating systems. These credit bureaus are known as Experian, Equifax and TransUnion. Do list down their contact numbers because if I have my way with you guys, you’ll soon be forced to get to know a representative from each credit bureau very well, indeed. But don’t worry because everything we’re going to do is legal and ethical.

Nobody knows just how it is that each credit bureau rates an individual’s credit worthiness but we can hazard a safe guess and tell you that your FICO score is affected by your payment habits, the number of loans and credit cards in your name and how much credit do you have at present. Anyway, whatever their rating systems are, we can also be sure that these credit bureaus are able to collect information about us from banks, merchants, lending companies, government agencies and maybe even your very own landlord.

Step Dos in our credit repair goals would be studying our credit reports and checking for inconsistencies. It’s time to hit the books for this step if you’re determined to fix bad credit all by your lonesome, sans outside professional help.

Step Tres is the most difficult thing to do because it asks you the equivalent of asking an alcoholic to stay away from liquor: it’s time to change your spending habits. Pay on time and so on to make sure that next time, you won’t be afraid of undergoing credit checks.

[Tags]Bad Credit, Debt, Bankruptcy, Credit Repair, Money Lenders, Credit Cards, budget, Unpaid Debts, Credit Reports[/Tags]