Here are 5 tips to get you credit-ready:
- Check your report- easy enough! All three agencies, Equifax, Experian, and TransUnion offer a free report every 12 months. https://www.annualcreditreport.com/index.action
- Dispute mistakes- take the time to dispute mistakes and correct them. It’s free and there’s a sample letter for disputes on the FTC website.
- Payment reminders- paying bills on time makes a difference. If you’re as busy and forgetful as everyone else, set up reminders through your bank bill pay system or on your phone. Yes, there’s an app for that!
- Reduce debt- it’s a no-brainer but paying down what you owe is a necessity, it’s just not always easy. Keep your credit cards open, but decrease their use to emergencies only. Research credible agencies for consolidation help if needed.
- Credit know how- read up on credit best practices. You can learn to keep credit open with a low balance, and have a variety of credit if possible.
A great source for credit related questions and topics is the Federal Trade Commission, visit their website: https://www.consumer.ftc.gov/articles/0058-credit-repair-how-help-yourself
As they say, there is no quick-fix. Credit repair takes time, effort, and a plan. Call us and we can help direct you to local lenders who can get you started on the right track for home buying.