5 Beginning Steps to Credit Repair

If you’ve stumbled across this article chances are you are trying to improve one of the most important pieces of your life, your credit! Today you are in luck.

As we all know credit impacts our lives almost every day. People with great FICO scores seem to take their credit profile for granted. It isn’t until you get declined for a loan or turned down for a bank account that you realize the impact poor credit has on you. I was once right there with all of you that have a bad FICO score. I found out a little over a year ago that I had bad credit, I mean I always knew that there were past due accounts on my report, I just didn’t know how MUCH these account effected my FICo. My husband and I tried to purchase our first home and needless to say, got declined.

After this I spent countless hours researching how to fix my credit. Needless to say I was able to fix my credit and we purchased our first home at the end of June 2008! Below is my simple 5 beginning steps to credit repair.

1. Check your credit report! You 100% cannot fix your credit if you do not know what EXACTLY is on your credit report.

2. Check for ANY mistakes. Make sure your name is spelled correct, your address is up to date, and your social security number is correct. Errors come in handy later.

3. Circle all negative account. Negative accounts means anything you have a thirty day or more late on. Circle all the inquiries, make notes of which ones you did and which ones you didn’t do. Circle any credit card account that has an outstanding balance that is greater then 30% of the credit limit (example: $1000 credit limit with a balance of $300 = 30% of the credit limit). Circle all foreclosures, collections, bankruptcy, judgments, or tax liens.

4. Know which credit card is your oldest and put a star next to it.

5. Circle ALL credit card accounts with zero balances that are open.

These first five steps will start the process to your credit repair. You must know WHAT you need to fix before you can fix it.

To find out more about credit repair visit my web site All the Financial Information You Want To Know. You will find several articles with related topics.

Article Source: http://EzineArticles.com/?expert=Chrystal_Fite http://EzineArticles.com/?5-Beginning-Steps-to-Credit-Repair&id=1864735

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