Fix my credit score

| April 11, 2012 | 0 Comments
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As far as fixing my credit score goes, in this present economy that is known to be rife with layoffs which has left a lot of persons without jobs, it is common to see several people who are looking for solutions on fixing their credit scores. This is mainly because due to the economic and financial hardship they face, you see them involuntarily lowering their credit score instead of increasing same. Most of the lenders you meet would first measure your credit score through Fair Isaac and Co (FICO). It is the score they get that would determine if you are credit worthy or not.

Still on fix my credit score, if your credit score, which is determined through the reports about your financial standing and borrowing habit gotten from the three major credit bureaus by FICO, is found to be low then you stand a very minimal chance of being extended a loan. Even when the creditors decide to give you such loan, they attach very high interest rates which serve as security measure for the money they are risking by extending loan to you. This makes it extremely necessary for you to try and fix your credit score as soon as you can.

Now I got you wondering on how you can achieve a feat like fix my credit score. Well there are several known ways through which you can achieve this. First you can start by verifying the authenticity and correctness of your credit report. Ensure that the information contained therein is not only factual but also up to date. Since the three major credit bureaus may not have the same facts about your borrowing habit, it becomes necessary that you get the reports from all three to know where you stand. With this done, you watch out for any sign of discrepancies in the report and when you find any, don’t waste time in disputing with the particular credit bureau.

As far as fix my credit score is concerned, another important step is paying down all your debts. When you do this, gradually your credit score will increase. This is because the debts you owe determine not less than 30% of your FICO score, the earlier you pay down debts, the quicker you fix your credit score.

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Category: Blog, Credit Resources, Improving Credit Score

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