The rejection or acceptance of you credit application depends entirely on your credit report and credit score. The present economy is not conducive to taking a chance on the prospect looking for credit. Whether you are looking to buy a high ticket item for your home, a new vehicle, or to refinance your home or to buy a new one, the lender will want to get your credit history and learn how you manage your money. For this reason you wan to have a clean and clear credit report, one that is updated and fresh. The lenders, retailers and dealers all look to your credit report and credit score, to see how you manage your money affairs and the way you pay your bills. IIn order to keep your credit report clean you have to consult the three major credit reporting companies which are: Trans Union, Equifax and Experian. You should read your credit report carefully and eliminate anything that does not belong there. Doing so will not only give you a fresh clean credit report but it will also prevent identity theft. A good clean credit report will make the difference between your application being accepted or rejected.
Trying to repair your own credit is not easy. In order to get you credit repaired properly you will need the services of a credit repair company and be advised that there is no guarantee that it will be done completely to your satisfaction. The creditors are more apt to negotiate with a professional credit repair company although there is no guarantee that the professional will be able to repair all of the bad credit. One such company is My Credit Group
All of the many credit repair companies use the method to repair credit. However, they cannot do it all themselves and you need to help, by not creating more negativity on your credit report while the credit repair company is attempting to solve your credit problems. While the credit repair company is attempting debt settlement and other negotiations you will have to make certain that there are no more negative statements appearing on that credit report. What you have to do is plan a budget and then live within that budget.
It is important that you start credit repair by destroying the credit cards. If you have five or more credit cards destroy four of them and keep one. Before you destroy them they should be paid off. After you have gotten rid of the credit cards the next step is to get rid of what you might have considered a necessity but was really a luxury, i.e. watch plain television and get rid of cable and dish. There must be some other way to entertain the children other than expensive games. Avoid impulse buying. If you are a shopaholic than take someone with you that will hold you credit card while you shop for only that which is necessary.
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The rejection or acceptance of you credit application depends entirely on your credit report and credit score. The present economy is not conducive to taking a chance on the prospect looking for credit. Whether you are looking to buy a high ticket item for your home, a new vehicle, or to refinance your home or to buy a new one, the lender will want to get your credit history and learn how you manage your money. For this reason you wan to have a clean and clear credit report, one that is updated and fresh. The lenders, retailers and dealers all look to your credit report and credit score, to see how you manage your money affairs and the way you pay your bills. IIn order to keep your credit report clean you have to consult the three major credit reporting companies which are: Trans Union, Equifax and Experian. You should read your credit report carefully and eliminate anything that does not belong there. Doing so will not only give you a fresh clean credit report but it will also prevent identity theft. A good clean credit report will make the difference between your application being accepted or rejected.