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A annual Credit Report is a report based on a length of 12 month, that is one year Annual Credit report is the only resource authorized by law to give free annual credit. It is more important to note that you get your credit report by reporting the agencies that you work with. Credit report also contains the list of previous and present account of you in your name within your agencies. The annual credit account can also vary within the agencies and also in comparison of present and previous year, under this condition you get the information behide the score of each agency.

To get Annual Credit Report you can get annual credit report by reporting your credit to these companies: (Equifax, Exprerian and TransUnion) these companies can help you to maintain history of your credit activity. The companies get their information from Banks, retailers, mortgage and others lenders that gives you a credit. Thereafter the give your information to the companies which are responsible for the same task. They also give the same information to the public records whereby, they are listed in your credit report as per each agencies. There is still a time frame which determines how long can different types of negative information remain within your credit report.

The negative Report on Annual Credit Report can only remain within your credit report for only seven years examples is late payment.
Judgement paid tax liens and bankruptcies are allowed to stay within your credit report for ten years of time In case you have not sport any errors in your credit report you can be allowed to file free dispute within each of the credit reporting companies( Bureaus), you can file dispute with Equifax either by phone, email or online.

This company is required to investigate any of your disputer for about one and half a month then informs you about the out outcome. If you have filed your dispute online you will receive the email message after they are through with the investigation. The function of the annual credit report is to summaries all the disputes and be able to compare the disputes of the previous and present time Annual credit report is also detailed to look at your credit habits, the type of debts you have outstanding for a given period of time and its bases of credit scores as per each agencies. These scores are not the same scores used by the third parties.

Credit Repair for Bad Credit

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Once you find yourself faced with a bad credit, the immediate problem you face is that there is no quick fix solution to get you out of the mess. You will require patience as you implement the following measures to help you get out of the bad credit. The first Step is to CRITICALLY STUDY YOUR CREDIT REPORTS which you can obtain easily from credit reporting agencies. Once you have acquired your credit reports, study the reports to take note of any errors which if found will be corrected by the agency at no cost. Check if your reports contain negative marks which would be from events that took place a long time ago. It is also important to request a copy of your scores considered by any creditor who might have denied you credit. Next step is to

FIND OUT WHAT WENT WRONG. To effectively fix your credit, you need to know where you failed in the first place. it could be a series of actions or a single event like. It is easier to determine this as credit reports will point an indicator to what went wrong. It is Important to also come up with a list of the credit cards you own, the balances they have among other data. If you find that you spend more than you make, then the problem is right there. It will require you to cut back on your expenditure or come up with ways of making more money. You also need to

INCREASE YOUR SCORE. It is important to pay what you owe on time and take other steps that will help you push your score upwards. This is because a certain percentage (35%) of your FICO score comes from the promptness of clearing your bills on time and thus it is the largest factor that determines your score. To push your score upwards, also try using your credit wisely. You should strike a balance between the amount you use monthly on your credit line and the total credit line you have The higher your balance runs versus your credit limit, your score will dive downwards. Alternatively you can create an emergency fund in the savings account to prevent you from overutilizinq your credit balance. Next you should

PROTECT THE AVAILABLE CREDIT. It is not advisable to close accounts when your credit is low yet you still possess cards. Many do this with an intention to raise their credit scores. However, an older account is more profitable and hence you should keep your credit relationships. Avoid revolving balances but if you have them, it is not advisable to use cards to pay off the debt. You should not take cash advances as some issuers may think you are in a financial crisis. Loans should also be paid on time, and avoid making credit card payments that are more than a month late.

As your last option, you can

ACQUIRE NEW CREDIT. This will apply especially if you have lost all your cards due to debts. However try to use the ones in your possession responsibly as this can show that you are capable of making a financial turnaround and will go towards boosting your score. However applying for new credit is also challenging and you are advised to move slowly and be carefully not to make the decisions that landed you in the current mess in the first place