Annual Free Credit Report

If you have reviewed your annual free credit report which you received from www.safecreditreport.com and you notice that there is a negative listing on your report, find out if it is true. If it is a charge off or write off, it will remain on your credit report for seven years. If you have filed bankruptcy, your annual free credit report will reflect that for about ten years. Nevertheless, paying your credit card bills and loans on time every month, even if it is only the minimum amount, will improve your credit score. Lenders are checking your credit history to verify that you are a good client who will pay them on time. Lenders would prefer working with consumers that have a good standing relationship with their other creditors, because it saves them money in collections down the road.

Now, try to stay away from filing bankruptcy. Depending on how many collections and accounts you have, your score may go as low as 500's. Do your research and find out if bankruptcy is a good option for you. Review your annual free credit report and ask an attorney what their opinion is. Keep in mind that an attorney will lean towards filing bankruptcy while a debt consolidation firm will lean towards fixing your credit without filing bankruptcy.

Debt consolidation firms can help you develop a payment schedule that you are comfortable with and may help lower your interest rates. This is a much better option if your credit score isn't that bad (say 600's) or if it seems more feasible to pay off your credit in a couple of years. Keep in mind that when you are working with a debt consolidation firm, some lenders may not approve you until you have fixed your credit.

In the end, your credit is your business. Nurture your annual free credit report every four months by reviewing it and slowly improving your credit score. It takes time to build up credit history, taint your credit score, and also raise or fix your credit score.

To receive a copy of your TransUnion or Equifax Credit Report, simply click on the link below and fill out a short form.

Other Free Annual Credit Report Info