Personal Narrative: How I Started Repairing My Credit

Bad credit reports can affect ones’ life in several negative ways. With a bad credit report and a low credit score, it is harder to receive a credit card, an automobile loan, a mortgage, or possibly a job. It is important that one is always aware of the credit decisions made. Paying bills late, maxing out credit cards, and filling out too many credit applications in a brief period will also have a negative impact on the credit report. To keep a good credit report, one should pay bills on time and apply for credit sparingly. Last, but certainly not least, one should check their credit report annually! A free credit report is available from each of the three credit reporting agencies each year. This is something one should take advantage of since it will help them judge whether they are managing their credit wisely. It is imperative that one keeps a good credit score. If not, one could miss out on many opportunities. For example, one may find an opening for their dream job that they are qualified for, but the negative credit report causes them to not get the job. Do not let this happen! Maintain a good credit report and opportunities like this will not pass by!

How to improve your bad credit over time, is by pulling your credit report. You can gain the knowledge needed to fix your problems. “Credit reports are available through one of the three major U.S. credit bureaus: Experian, Equifax and TransUnion. Because of a change of law in 2005, each of the credit bureaus must provide you with a free credit report once a year, through www.annualcreditreport.com (Woolsey, B., 2016).

“Congress has elected to offer a number of tax credits, generally enacted to encourage certain outcomes or to accomplish specified societal goals. Some of these goals include assisting families with children, ensuring additional tax relief for low-income taxpayers, encouraging taxpayers to enhance their education, encouraging adoptions, and providing incentives for taxpayers to work” (Cruz, Deschamps, Niswander, Prendergast, Schisler, & Trone, 2011,pg 9-1), The credit section of the 1040 allows taxpayers to get these credits that is subtracted from the calculated tax in previous section, this lowers the tax is due at the end of the year.

File your taxes and pay as much as possible. Afterward, call the Internal Revenue Service to find out if an installment agreement, a payment extension or an offer in compromise agreement could help you get back on track.

You should have the proper documentation to support your income, deductions, and tax credits. You must keep your records as long

On Manisha Thakor’s book, On My Own Two Feet, she mentioned the three basic steps that we can improve our credit score. These basics steps are 1)make sure your credit reports are accurate 2) always practice good financial housekeeping 3) taking the extra actions which include the following:

It is important to maintain good financial credit during high school because their are types where you are in need of money and need something the next day well you can get loans because of the good credit you have. But again if you have bad credit no one is likely to want to give you money. During college it is also good to maintain credit because once you are out into the real world and you want to get things under your name you have to have a good credit in order to get the thing you want. Once you are going good with credit in college it would give you a better reputation for when you are and how good you keep up with paying your things.

What exactly goes into a credit score? Unfortunately, many consumers cannot answer this question. Credit scores are not easily accessible and therefore this lack or knowledge negatively affects individuals because they do not know how to better their score. A credit score is composed of five different components: thirty percent is the amount a person owes, thirty-five percent is payment history, fifteen percent is the length of credit history, ten percent is new credit, and the remaining ten percent is called a credit mix. One study of individual’s knowledge of credit showed, “that while most respondents knew what a credit score was ‘in theory,’ their practical knowledge of credit scores was lacking. Knowledge of the factors that positively and

As per your request, I am happy to provide you with a letter of explanation of my credit situation. First, let me start by saying I am aware of my credit report. The first step is always admitting it and setting goals to fix it! (Which I am determined to do!)

Here are some simple steps to take if you want to learn how to improve credit score.

Have you ever paid Attention to your credit and wonder why we need it how it effect the things we do every day in life and without it, things can like a home, car, credit cards we can’t get and how do we go bout repairing our credit the correct way.

Three ways I can help improve my FICO score is to check my credit periodically, set up payment reminders for payments, and reduce the amount of debt I owe. According to many credit bureaus and experts, checking your credit periodically is always the right approach to turning your credit around. By checking your scores you can determine if there are any errors on your reports and take the right course of action to dispute those errors. You may

We know you have heard it this all before You should improve your credit. But do you know just why you should focus on your credit health? It’s not just because you can qualify for credit cards with great rewards — though that’s a nice perk. A great credit score can actually save you some big bucks on longer-term loans.Good Credit Helps You Save on Your Mortgage

Why you need a good credit score and simple actions you can do to improve it

These things are necessary to remember when improving your credit. Check your credit report regularly to monitor the information that is yours and exact to prevent fraud. Pay off your credit card balances and set a reminder to remember when it is due. Furthermore, make payments more than the minimal payment off of the credit card. Have self-discipline by not swiping your card on unnecessary expenses when you don’t have the money to pay it off.