If you are a single mom who is trying everything that she can in order to get herself and to a great financial situation, then please read this entire post because we have put this article together to help you rebuild your credit so that you will be eligible to apply and possibly secure financing for things like homes, auto loans, mortgages, or just a personal loan that will help you take care of some personal finances that you need to take care of immediately.
It really sucks being in a position where you need money to pay your rent or mortgage, or pay your car loan, or sometimes even put food on the table for you and your kids, however there is no money and the chances of you getting financing in order to get this money is very slim because your credit has been turned upside down. It’s not to say that you destroyed your own credit, although some people are to blame for doing that, because this economy has been very tough and a lot of people so don’t feel bad that you have bad credit. We are going to show you exactly how you can’t repair good credit and bring your credit score up to a point that will allow you to be can apply for credit and future and be able to qualify for it.
Helping Single Moms Fix Bad Credit Tip #1
One of the first things that you must do if you are going to begin learning how to fix your credit is you must take a look at your credit file to see who is reporting negative things and you also want to see your credit score. Some people automatically believe that they have a credit score naturally and will never be able to qualify for a loan and thus they have never tried, however upon taking a look at their credit score and credit file, the realized that they had fashioned to have a very good credit score and then they can usually qualifies for just about any type of loan, however this doesn’t happen very often because the simple fact is that many people do in fact have bad credit especially single moms because it is tough and a financial burden for only one adult in the house to be bringing in an income to care for the entire household.
So, what you should do is you should request check your credit score for freeso that you can examine your credit file and also see what your credit score is. In order to have access to this information it will only cost you around $15 after the five day free trial, and during the five days, you can actually cancel as soon as you get the information you need. Or you can go to annual credit report and get your credit file mailed to you which can take up to four weeks and they do not give you your credit score because that is a separate charge and they will charge you for that. Therefore the best option is to get it online. Once you have the information, make yourself a file within Excel that list your debts from lowest to highest and immediately begin paying off the lowest debts first. Keep in mind that this will take some time and can not be accomplished overnight therefore you need to have patience and do not let all of the debts overwhelm you but if you are determined to persevere you will have these debts paid off before you know it. Another tip to keep in mind here is that the amount of inaccuracies within credit files is alarming. It’s possible that the reason your credit is so bad is because there are things on your credit file that have extended past the statue of limitations and are still lingering on your credit report which should be taken off. The way you take these items off of your credit file, is you fill out a credit report dispute form and send it to the credit reporting agencies Transunion, Equifax, and Experian.
These two tips alone can increase your credit score by 40 to 80 points within only a few months. We highly recommend that you take advantage of these tips and began improving your financial life now.
As always if you have any comments, questions, concerns, or beneficial credit tips that you feel our readers would benefit from, please leave us a detailed comment and don’t forget to share this Post with your friends on Facebook if you found it beneficial!