Clear Your Credit Rating With This Comprehensive Guide (How to improve your credit rating)

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Product:	How to improve your credit rating
Date:	29/06/02 (657 review reads)
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Advantages: Get Loans Approved, Clear Credit History, Peace Of Mind

Disadvantages: Can Be Daunting

I believe that it is the love for money that results in people getting bad credit ratings. Although you may not realise that you love money, think about how much you enjoy its benefits, socialising, treating your girlfriend or even buying that bike you've always wanted. We all get a buzz from buying something new and showing it off to our friends, the trick is to know how to control this drug and the adrenaline rush that we ultimately get from it.


Bankruptcy is something that is taken too lightly in today's society, just yesterday I was asking my friends about the likely hood of bankruptcy, all dismissed the idea as something that could never and will never happen, however with a bad credit rating and reckless spending habits this can become a true reality.


Credit ratings are more than a small notice to the company documenting on whether or not you have good or bad credit, No! In fact these are actual detailed reports from credit reference agencies which not only document on your previous credit histories but also those that turned you down and why, the result is a viscous cycle of being turned down for credit. So How Does One Sheer Away From This Snow Balling Effect?


Apart from the simple advice of paying all your debts and loans on time there are other guides, which I hope, will aid you in your bid to clear you credit history.


There are two main credit reference companies, which hold all information concerning your credit history. The trick is to be able to acknowledge all the problems that you have through their service, which allows you, view your credit history in detail. The two agencies are Equifax and Experian. For more information you can either request a package by writing a short letter explaining your predicament or you may choose to visit their websites.


The first task is to organise your credit history once you have the required information. The trick is not just to be able
to say which credit debts are accurate and inaccurate but also to be able to cross-reference dates in your diary of payments. So if some information in your history is inaccurate then when you phone up the credit company you have solid proof and dates to back up your statements.


One you have the information and are sorting through it you must note that you have the right to add specific notes to the credit history where relevant. However it is not allowed to make irrelevant notes; there is a guideline to noting your history you must follow and is available from the information pack sent by Equifax. You may though for instance write a note giving a valid reason for not paying a debt etc. providing it is backed up by relevant info such as a doctor's note if for medical reasons. This won't diminish the fact that you haven't paid however it will stand you in good stead with the lender.


A Certificate Of Satisfaction is an excellent document which you can request concerning County Court Judgements because although after you have paid off the County Court Judgments, it still remains in your credit history for six years and is discouraging to many major agencies. A Certificate Of Satisfaction will provide proof to other organisations that you are reliable and your County Court Judgement is authentic. It will also show them that not only are serious but that you know what you are doing.


It is possible to separate your credit rating from the other members of your family. This in most cases will improve your credit rating especially if the other members have particularly poor credit ratings.


There are other factors, which stand you in good stead with the lender such as having a permanent address and being employed rather than self -employed. This is because it is likely that you are likely to be able to hide from debts and communication is easier. Another trick would be to sign up for the Electoral Register;
this proves your identification and address. All these factors mean that the lender feels much more secure while dealing with you especially if any problems arise.


In conclusion, credit is something, which can be both, and wonderful thing and a great evil. It all depends really on your discipline and organisation; if you can manage these qualities you will be able to harness the true power and enjoyment that the rest of the nation is enjoying with credit.

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