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We all have numbers that help to define ourselves; our IQ, our age, our weight and our credit score are just a few of them. Some of these we have a lot of control over and others not so much. Fortunately, our credit score is one of the numbers that, for better or for worse, we control by our behavior and actions. If your score is lower than you want it to be, it is time to take action to improve it. The sooner you get started, the better, because it takes time to see improvement in your score. Know Your Credit Score Number Don’t wait until you are applying for a mortgage or a car loan to find out that there are issues with your score. Each of the three major credit scoring companies will issue you a free report every twelve months. You can request one online at their websites or at other credit report websites. The three largest credit rating companies are TransUnion, Equifax, and Experian. The data that goes into calculating your score should be included with the report. Once you’ve attained your mortgage, continue to monitor your credit rating and seek professional advice if you are ever faced with a foreclosure. Review the Data Carefully scrutinize the data that is being used for your score. If you spot any errors, immediately follow up with the credit bureau and the source company. Pay Your Bills on Time Paying a bill even one day late can impact your rating. Make a goal to pay all bills before they are due. Set up a schedule that works for you. Maybe setting aside an hour at the same time every week to pay bills is your answer. Maybe paying the bill as soon as it arrives in your mailbox or inbox is a better solution for you. You may want to take advantage of services and credit cards that have plans to pay your bills automatically from your bank account. If you choose this option, be careful because you have to be sure the money is in the account, or you will just create more problems for yourself. Reduce the Amount That You Owe Review all of your monthly payments and determine if there are any that can be eliminated. A reduction in the amount of debt that you have outstanding is a sure, quick way to boost your credit score. Consider reducing the amount of expenditures on your credit cards. Know which of your cards are charging the highest interest, pay them off and stop using them. Call a Professional If your credit and debt levels ever get to be more than you can manage, and need to get foreclosure legal advice, you can call Litvin Law Firm at (888) 964-3367.
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