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Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track
Most of us don't understand or know what makes up our credit score. Your credit score is the most important piece of information in your financial life. Landlords, lenders, insurance companies, electric companies and potential employers all have your credit score under the microscope.With that being said, you should probably check your credit scores on a regular basis. Check it for errors, potential identity theft and improve your scores over time. The secret to a better credit score is to pay your bills on time and keep your available lines of credit as low as possible.Do not fall for any of these common credit score myths:Myth 1. Checking my own credit will lower my score. You can check your own credit report as many times as you want. These are considered soft pulls and do not have any impact on your score.Myth 2. Shopping lenders will lower my score. No doubt each lender you make application with will have to check your credit to accurately make a decision. The credit bureaus realize and understand that most people are going to get multiple quotes when buying big ticket items like homes and automobiles. As a result all of these type inquiries made within a 14 day period are counted as one inquiry.Myth 3. There's only one credit score. There are three credit bureaus. Experian, Equifax, and Transunion. Each bureau generates a score therefore you will have three credit scores. Each score will vary so its good to know all three scores.Myth 4. Age, income, sex and race will affect your score. None of this information has any impact on your credit scores. Your age and employer may be listed on your credit report, however it has no impact on the score itself.Myth 5. A simple dispute letter will remove bad credit. Sorry, but this one cracks me up. If it's a legitimate account, being reported accurately it will not be removed regardless of how many letters you submit disputing it. If you do see errors on your credit report you should by all means dispute it. The credit bureaus have 30 days to reply and are quick to remove inaccurate data.Myth 6. Marriage will merge both reports. Credit information never gets mixed. Accounts are either opened individually or jointly. Don't think marrying someone with good credit is going to raise your credit score.We recommend checking your credit quarterly. Refer to myth number one, a soft pull will not lower your score. It is to your benefit to keep an eye on your credit, protect it and constantly improve it. Article Tags: Credit Score, Credit Scores, Credit Report, Credit Bureaus
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