Financial Challenges: How to Repair Your Credit
expense ratio and simply living within their means. Most importantly, how to pay themselves first before paying anyone else i.e.-mortgage, bills, etc. However, there is hope and there are solutions in dealing with these challenges.
Here are a few steps to begin the process:
Step #1:
Obtain a copy of all 3 major credit bureau reports from Transunion, Equifax & Experian. Challenge all derogatory credit accounts that you know have not been established by you. Identity theft & fraud which tend to make up a large portion of negative account items for a majority of people.
Step #2:
Set up payment arrangements with the various companies to pay off all legitimate debt, request a letter stating that the account/debt has been settled, and follow up with the credit reporting agency to ensure that the report status is listed as paid in full. By doing this, you will start to notice improvements in your once negative credit score.
payments, so some drastic adjustments may
Many people have a great deal of challenges facing them each and every day, challenges that often shape a great portion of their lives and future. One of the most difficult challenges people may face, the millennial group particularly, is the challenge of establishing and maintaining "good credit". It's not because they are the most irresponsible and reckless group, but mainly because they have never been taught how to establish and maintain a healthy credit score. In turn, it prohibits them from qualifying for home loans, car loans, and even simpler things like basic credit cards or even getting a good job. Another challenge is that most people haven't been taught the basics of financial literacy, which can be determined by identifying their income to
By Mark Chambers