By Aiden Zamora
Qualified Financial Adviser

If you’ve ever applied for a credit card, a personal loan, or insurance, there’s a file about you. This file contains information on where you work and live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. A credit report is a record of your credit activities. It lists any credit-card accounts or loans you may have, the balances, and how regularly you make your payments. It also shows if any action has been taken against you because of unpaid bills.

Consumer reporting agencies, such as, Experian, Trans Union, and Equifax, gather all this information on you and then sell it to creditors, insurance companies, employers, and other businesses for a fee. Everyone has a right to know what is included in their credit report information, including medical information and the sources of all information provided. An annual survey published by Trans Union shows that most consumers feel the benefits of credit reports outweigh concerns about privacy.

To avoid any unwelcome surprises, it’s important to see your credit report information before you apply for credit such as car loans, mortgages, or credit cards. Errors in credit reports can be common. Keep in mind, however, that they are not part of a conspiracy against you. They are simply the result of human error. You can get a copy of your credit report information for $9, or you may be entitled to a free copy of your credit report information at least once a year. Generally, all your credit report information, good or bad, remains on your report for seven years. If you file for personal bankruptcy, that fact remains on your credit report for 10 years.

Once you get your credit report information and you discover that your FICO score is really low you should immediately try and raise this number by disputing the accuracy of the negatives in your reports. But how do you do this? I suggest you take a look at a report written by an attorney called “the attorney´s guide to credit repair” You´ll find sample letters you can use to send off to the bureaus. Take action as soon as you get your reports!

If you are still not convinced that you can erase a bad credit history by yourself then sign up for the 5 part course below. You will find tips that so called expert credit repair companies will charge you over $200.

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