If you have decided to undertake do it yourself credit repair then this article will provide you with some good information about understanding and fixing your own credit.
Your credit score is a number which is used to decide whether or not you are a good financial risk. It is decided by your everyday financial transactions and bill paying history. It is also known as your FICO score. This three digit number is used by lenders to determine if you are likely to pay your bills on time and if you are credit worthy.
The first thing that you need to do is to get a copy of your credit report from the credit bureaus. These are Experian, TransUnion and Equifax.
Once you have obtained a copy of your credit report from the credit bureaus you should read through it carefully and make sure that it contains no errors. If you do find any errors then you need to send the credit bureau a dispute letter. Once the error has been removed from your credit report you should see an improvement in your credit score.
A good way to raise your credit score is to pay your bills on time. Not missing payments on your bills shows the credit agencies that you are a financially responsible person who is a good credit risk. If you start to miss bill payments then this will be recorded on your credit report and will result in a lowering of your credit score. By paying your bills on time you will also avoid any late payment fees and penalties which may be applied which will make your financial situation even worse.
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