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Tag Archives: Experian

Step One – Crawl before you walk!

The first step in starting to repair your credit is to begin collecting the copies of credit reports from the various bureaus otherwise known as a CRA’s. After obtaining the three credit reports from Experian, Equifax, and Transunion start making evaluation of your financial position. You can dispute anything and everything that is negative but start with your personal information.

You will need to thoroughly review your reports. Each CRA (credit reporting agency) is it’s own entity and they do not do business together. Often times you will have variations of the same item on each report. Any item that is potentially negative should be disputed and the CRA. From here the bureau(s) check with the creditor to begin the investigation process.

It’s very imperative that you know what your report actually reflects. Next step is ‘Understanding how to read your report’.

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The Credit Goddess – Where to find CG

Welcome!

I want to update you on the networks I use regarding Credit Repair from CG. I have established a FB account for all who use FB religiously (https://www.facebook.com/TheCreditGoddess). I have also established a Twitter account for those who like to keep it pretty simple (@Credit_Goddess).

Have a great day everybody!

CG

 
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Posted by on July 11, 2012 in The Credit Goddess

 

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Let’s get everyone up to speed – Background

Good morning everyone!

When I was working at Port of Subs prior to graduation. I went into my local Wells Fargo to establish a Student Checking account with the bank. Therefore no matter where I go in the Nation I will have access to a branch to make my deposits and withdraws. Wells Fargo at the time had a College Credit Card that they said I qualified for. I accepted that line of credit with $700 limit not knowing anything about what my credit report looked like; better yet not knowing my scores. The reasoning for me doing this (not just out of excitement) is because I knew credit was a big deal! I was eager to establish it at an early age.

Was I irresponsible? Yes! Did I fail to do as I so sternly said I wouldn’t? Yes. Did I have to fight them on the collection later? Yes. It was a snowball effect from there.

All of life’s necessities are based upon how you manage your finances and how you deal with creditors. In the eyes of a lender you have to be in a ‘three piece suit’ in order to be approved or even looked at. Even if you are a qualified borrower perhaps the strategy you are utilizing is not working. Do you understand the criteria for lenders?

In my position when I started working with Jantzen (my current employer) I had poor credit. It could have very well been due to derogatory items on my report. I had the company do a hard pull to see just where I was at. I ran into a lot of snags with the credit monitoring services I was attempting to use. They ‘could not locate my report’. The problem with that is; I did not know what was on my report specifically, especially since I had never viewed it. All the questions they ask you about your addresses, your creditors, account(s) that are new, and mortgages… I had no idea. By allowing the company I work for pull my credit I was capable of locating the report itself.  From there on out I was able to start utilizing a monitoring service for any further repairs or references to updates.

When I initially pulled my report, like I mentioned, I had poor credit. My credit score was a 580 from Experian! This was the first time I had ever viewed my report, not just in detail, but PERIOD! I wasn’t surprised at what appeared on the report. I was very much surprised by how that one collection account had affected my score so dramatically. I had to do something about this. I always wanted good credit, but I failed to maintain the one chance I had at proving my stability. The creditors viewed me as ‘High Risk’. I couldn’t establish credit any further (at least that’s what I thought).

Now I will proudly say that I have good credit. Through the trial and error process of repairing my credit I have become very familiar with how I think the algorithm works. Again, it’s an algorithm therefore nobody can really tell you how the score is determined. I again though will state that I have successfully pulled myself out of the rut I CREATED FOR MYSELF.

Now I am here to explain to you how to do it yourself! In case you, like me, did this exact same thing.. Or something similar?

GC

 

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