DIY Credit Repair- Austin and San Antonio
As I was cleaning out my home office area recently, I happened to find a copy of one of my college homework assignments (from a business communication course). It was a copy of a letter that I wrote to one of the credit bureaus. (No, I am not a hoarder, I just happened to have kept a few notebooks of ‘important information’) In retrospect, you might say that in my financial/credit life, my college years were my wonder years and my late 20’s/early 30’s could be considered my blunder years.
Sure, it was nice to learn that I have the right to a free credit report annually, and it was nice to know how to request the reports. But, what about knowing how to read and understand the report? Luckily, I was fortunate enough to enter the wonderful world of credit repair, which I had never heard of, much less thought it was possible; actually, I didn’t really think about credit at all at that time in my life. I just went around living my life with the credit that I had (which was pretty good, at the time), and didn’t think about my credit or anyone else’s for that matter.
This may be your first time getting this information or maybe it is like a refresher course. Here are the basic parts of a credit report that you should be familiar with and that might help you repair your own credit!
1. Personal Information This section will list information such as your name, date of birth, address (current & previous), and employer (s). Most people don’t think to look at this section much; however, it may be a quick indicator of whether your credit report is merged with someone else’s report and if there are other errors on your credit report based on the wrong person altogether.
2. Summary of Accounts This typically looks like a chart or list of the type and number of accounts that you may or may not have reporting on your credit report. The categories
here are: Total Accounts, Open Accounts, Closed Accounts, Delinquent, Derogatory, Balances, Payments, Public Records, & Inquires.
3. Account History The meat of the credit report. This is where you will find details (depending on what kind of report you access) on accounts reporting on your credit report. Keep in mind that you need to review a credit report from all 3 credit bureaus since not all creditors will report to the same credit bureaus. A creditor may report to 1, 2, all 3 credit bureaus or none at all.
4. Public Information If you have any public records reporting, this section will show it. This may be Tax Liens, Judgments, court records, county records, etc. Look at this section even if you know you don’t have any such records! You never know if this is an error.
5. Inquiries You will find a list of the credit inquiries that you have made or inquiries made on your credit in this section.
6. Creditor Contacts And of course, in case you would like to contact any of the creditors listed on your credit report, this section displays the contact information for the creditors.
For a free credit report analysis and consultation HERE, or call us:
Austin office (512) 827-9969
Toll free (888) 900-5138