by LeRoy
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Getting pre-approved for bad credit car financing will help you get the best rates possible. Pre-approved auto loans also give you an edge during car shopping, providing you with the most options. Your car shopping experience can be focused on getting the best price on a car, rather than worrying about financing.
Why Pre-Approved Loans Are Better
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by LeRoy
5 Major Threats to Your credit score
A person’s credit score is an extremely important tool, especially if the individual wishes to apply for a loan, or wants to get insurance. Maintaining a good credit score is crucial for maintaining a sound financial picture, since this allows the person to apply for loans without encountering too much hassle. Here are the 5 major threats to one’s credit score.
Bankruptcy
A bankruptcy is like a big black eye on a person’s credit report. It tells prospective creditors that you’re unable to honor your promise to pay back your debts and other financial obligations, from utility bills, credit card charges, child support and more. Although it may take a while for a person to rehabilitate his credit score after bankruptcy, the impact of the bankruptcy though dissipates over time. To restore your credit worthiness, you will need to add new trade lines to your report, as well as take on other forms of credit, like a small appliance loan, so that your credit score will not stagnate.
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by LeRoy
5 Ways To Dispute Discrepancies to Your credit score
A person’s credit score indicates how credit-worthy and financially responsible they really are.
A credit report is usually sourced from the nation’s three major credit reporting agencies, which includes Experian, Equifax and TransUnion. However, the big three are not immune to errors and major flaws, and according to credit experts, these three agencies incur error rates ranging from 20 to 30 percent, although some of the errors may be as simple as reporting the wrong month of a delinquent account. Nevertheless, any simple credit report errors may still have a damaging on the person’s credit score, which can result in the individual getting rejected for a much-needed credit line. Here are five ways for disputing discrepancies in your credit report.
Order a Copy Of Your Credit Report From The Big 3 Credit Agencies
The first thing to do is to order a copy of your credit report directly from each, or any of the three major credit agencies. Don’t get your credit report from third-party agencies, because chances are you could be disputing errors or flaws that don’t even exist. According to the US Fair Credit Reporting Act (FCRA), the major credit agencies are responsible for correcting or reducing any flaws and errors in their credit reports. The FCRA therefore, enables you to directly contact these credit reporting agencies, and formally relay your disputes or complaints.
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