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Published by wlingle117
e-book with credit repair tips and instructional material for do it yourself credit repair. Also covers debt consolidation and identity theft
e-book with credit repair tips and instructional material for do it yourself credit repair. Also covers debt consolidation and identity theft

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Published by: wlingle117 on Dec 22, 2007
Copyright:Attribution Non-commercial


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Page 1Clever Credit Repair - 40 Credit Repair SecretsPage 1©2007 Clever Credit Repair - www.clevercreditrepair.com - All Rights Reserved
1. Get a copy of your credit report from all 3 bureaus
 Because all 3 bureaus may have different data about your credit, it is agood idea to get a credit report from all 3 bureaus. Luckily you can get all3 in a combined report. We have reviewed what we feel is the top 5 3-bureau credit reportshere.
Read your credit report and review for innacuracies
Your credit report will be divided into 4 sections. Identifying information.credit history, public records and inquiries. Check over your personalinformation for innacuracies such as incorrect SSN number or credit linesthat don't belong to you.
Myth: Checking your own credit will do damage to your credit
This is false. Checking your own credit is considered a "soft inquiry" andwill not be a blemish on your credit report.
Soft Inquiries vs. Hard Inquiries
A hard inquiry is when a lender checks your credit. An example might bewhen you apply for a credit card. Too many "hard inquiries" cantemporarily drop your score. Since very often you may be applying for many to many places at one time for a credit card or auto loan, all "hardinquiries" in a 2 week period are considered as one inquiry. A soft inquiryis when you check your own credit report and is not counted against you.
5. Pay your bills on time
Probably the number one thing you can do to keep your credit in goodstanding is to pay your bills on time. Because even one 30 day latepayment can adversely affect your credit, this is important. If you're notsure if a creditor or utility then pay it on time. Don't forget about the lessobvious bills like a gym membership or movie rental place.
Online bill paying
For those bills you know report to a collection agency, it would beadvisable to setup online bill paying. This way you know for sure thosebills are being paid on time.
What if I'm not sure a creditor reports to an agency?
If you are not sure which of your creditors report to a collection agency,then call them and ask. It's really that easy. Make a list of all the bills youpay each month. Call each one and check if they report to a collectionagency.
Page 2Clever Credit Repair - 40 Credit Repair SecretsPage 2©2007 Clever Credit Repair - www.clevercreditrepair.com - All Rights Reserved
8. What is a credit score and how does it help me?
Your credit score is what lenders use to determine whether or not toextend you credit. A number too low and you will not get credit. A number that is average and you will get a high interest rate. A good score and youwill get credit at a decent interest rate.
9. Having a good credit score will save you thousands of dollars!
Because you will be extended credit with the best interest rate, you willsave tens of thousands of dollars on home mortgages and thousands of dollars on interest on auto loans and credit cards.10.
So what is a good credit score?
Below 620 Poor Credit (in other words - hurting!)620-660 You will be extended Sub-Prime financing. Still, ouch!660-720 This is Average, but you will still be assessed higher rates.720-750 This is Excellent. We all aspire to this.750 + Champaign pours from the heavens. Perfect Score.
What is a FICO score and why is that important?
There are many scores out there. A score is basically compiled from goodand bad information from your credit report. The FICO score is a scorecompiled from software created by the Fair Isaac Corporation. Each of the major credit reporting agencies provides a FICO score. This FICOscore is what is used by most lenders. All other scores attempt tosimulate what your FICO score might be.
12. Who is the Fair Isaac Corporation?
 The Fair Isaac Corporation is the developer of the FICO score. Becauseeach of the big credit reporting agencies is slightly different in the way theypresent your credit report, a different credit scoring program was writtenfor each. Each credit reporting agency then will have it's own FICO scorerepresenting your credit. Since a lender may pull your credit score fromonly one reporting agency or a combination of scores, it's advisable for you to find out what your score is at each credit reporting agency.
What are the 3 big credit reporting agencies?
The 3 national credit bureaus are Experian, Equifax and TransUnion.
Myth: Closing old accounts will improve my credit score.
 This depends. Old accounts typically have credit history associated withthem, so removing them removes the history. Any negative itemsassociated with that account will not be removed. Most likely this will havean adverse affect on your score. One possibility where it might help is if you have too many credit cards. Choose wisely which accounts to delete.
Page 3Clever Credit Repair - 40 Credit Repair SecretsPage 3©2007 Clever Credit Repair - www.clevercreditrepair.com - All Rights Reserved

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