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Six years ago I didn't have a single mark, good or bad on my
credit history. Then I helped my sister get a computer by co-signing
a credit card for her. That never got paid back and the delinquent
account was tranfered to collection agencies sending my credit
score down the tubes. That account became my biggest drawback
to getting my credit back in good standing. I didn't want to pay
back money for something I never owned or used, never mind the
fact that the price has now more than doubled from interest and
late fees.
Why do I care about my credit score? The ability to get a better
rate on a mortgage, should I need one to finance a house, or the
ability to get an unsecured or signature loan to fullfill the
down payment requirements for an investment opportunity are two
areas that come to mind. At this point I still don't even have
a single credit card from which I could draw cash should the need
arise.
My first step was to find out exactly where I stood. This was
a simple matter of getting my credit report from all three agencies
to see where exactly you stand. If you haven't recieved a copy
of your report in over a year or have recently been turned down
for credit you can use this sample letter to request a free copy.
Other reasons include.... for some reason transunion(?) has a
bad response rate. I have never had any luck with them, wether
its in the form of repeated letters or phone calls.
Here are the current address' for the big three:
Step Two was to remove the negative marks on my credit report.
There were two besides the co-signed card with my sister that
I hadn't expected. I used this letter to explain my position and
to find out the accounts current standing. One of the accounts
had other fees associated with it that didn't show up on the credit
report. This company however recieved the first letter, agreed
to my terms and sent me a response. Then it was a simple matter
of paying what I owed for the listing to be removed from my credit
report.
STILL UNDER CONSTRUCTION
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