Cleaning your credit reports

Because of the nature of the credit scoring algorithms in use today, any amount of bad credit on your credit reports can prove disastrous to your credit rating. Regardless of the number of positive credit listings you have on your credit reports, negative credit items will drive your score down. In fact, even a single serious negative item such as a 90 day late payment recorded on your credit reports can cause you to be rejected on a credit application.

With today’s increasing credit restrictions, it can seem like lenders are looking for any excuse to deny credit to consumers. When you have negative marks on your credit reports, you don’t force them to look far. This is why it is more important than ever to have a clean credit report. It is not enough to have multiple positive lines of credit and a long history of use, you also need to do you best to keep bad credit listings from appearing on your credit reports.

Being careful to make all your payments on time and in full will go along way towards maintaining a good credit score. If you anticipate that you will not be able to make a payment on time, try contacting your creditors to see if they will work with you. Keeping them informed and assuring them that you are doing your best to stay current may convince them not to report delinquencies to the credit bureaus. They may even be willing to set up a payment schedule that better suits your needs.

Credit and your credit reports

Because your history of using credit plays such a big role in your future ability to get credit, it is in your best interest to make sure your credit history gives lenders a fair impression of you as a debtor. Since the vast majority of lenders use your credit reports as a record of your credit history, this involves making sure your credit reports are free from errors and bias.

When your credit score is low because of questionable negative items in your credit reports, you have the right to dispute these items. For 28+ years, Total Credit Solutions has helped clients work towards a fair an accurate credit score by helping them take advantage of this right.

Get your free consultation and credit analysis

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