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Whilst reporting errors such as human errors and identity theft are blamed for a low credit score. Failure to make loan or mortgage payments or credit card dues in time, bankruptcy, accidents, and living beyond your means are just some of the common yet obvious reasons your credit score is on the low side. As a result, you are no longer qualify for conventional loans due to a poor credit rating. If you're uncertain about your ratings, you can get a request on credit report from the three main credit bureaus. Check for any discrepancy and keep track of your scores by utilizing each of the bureaus free annual credit reports. Under the Fair Credit Reporting Act (FCRA), it is your right to correct the inaccurate information on your report. When you suspect any error, you can write directly to the agency identifying the inaccurate information. This option of amendments and removal of errors from a credit report can often take months, or even years to rectify. But here's the thing. While you're taking steps in building your score or getting the errors fixed, you might want to consider an automobile title loan that offers a reasonable rate of interest as an alternative option to fix your credit score. Although these kind of loans are designed for high-risk borrowers, repaying them on schedule can help you reestablish and improve a bad credit score significantly. With auto title loans, as long as it is paid in full with no liens or current financing, you're only placing the title of your vehicle as a collateral when the loan is granted. That said, you can keep and drive your car while repaying the debt. Work out a plan to make payments diligently and on schedule. Establish a positive payment record. How responsible you're in repaying your debt obligation and managing your finances will reflect well on your credit report. On a final note, availing automobile title loans is just one of various ways you can fix your credit score. It's best to talk to your financial advisor. The better your advisor understands you and your situation, the better equipped he is to recommend the best solution to your unique situation. And for free yet reliable annual report, you might want to avail yourself of TRW free credit report.
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