How's Your Personal Credit?

As a business owner you're entitled to create for yourself a business credit profile to eventually obtain a massive amount of money in your business name alone.

But what about your personal credit?   Many work from home business owners credit scores are just too low for them to receive any justice financially.  What I mean by "justice" is you're being charged high interest rates for loans on cars, credit cards, real estate, etc.  This is costing you thousands of dollars and can be easily rectified if you can just learn how to raise your credit score. 

So what do you have to do to raise your credit score? 

Well for starters you'll need to see what's on the three major credit bureaus (Experian, Transunion, Equifax) reports on you. You can get a free credit report from each credit reporting bureau once per year or if you were denied credit recently.  If you don't want to wait 2-3 weeks for your reports to come in the mail you could always pay the $40 fee to http://www.experian.com and get immediate access to all of your reports. 

Once you've acquired your credit reports, if you discover you have any negative items on them, then you'll need to be about the business of getting those items removed, even if you were at fault for them being there. 

What most people don't know about restoring their credit is that when you have negative items on your reports, you can dispute them with either a dispute letter via the mail or online at Experian and Transunion. Equifax won't allow you to dispute negative items online, you'll have to go via the snail mail route with them. There is an advantage to disputing those items online because it's less time consuming. And besides, who wants to wait for reports to come in the mail if they don't have to.

So when you file a dispute, the credit reporting bureau Experian, Transunion, Equifax has to contact the creditor who reported the negative item or delinquency on your report and ask them to verify the accuracy of the account. The creditor is required by law to provide proof of the account within a 30 day time period. If they don't, those item(s) will automatically be removed from the requesting credit bureau for failing to provide proof. 

If for some reason you later check your reports and see that the negative items were not removed, then you'll need to challenge it in writing.  If you'll consistently challenge the credit bureaus about items that don't come off, eventually the creditor will stop responding or fail to provide proof of the account. When that happens that creditor will not respond to the credit bureau's request within the 30-day required time-frame and the delinquency will then be removed.

Credit repair and credit restoration have become billion dollar industries because of the positive impact they have had in removing negative items from individuals credit reports and increasing their FICO credit scores. 

But the only way most people know how to get the kind of credit repair, that increases your score, is to turn to a high priced lawyer that charges $5,000 to do credit repair. 

Now you can take the power into your own hands and raise your own credit score.

If you'd like more information and even the letters in which to dispute negative items on your credit report you can log onto ===> http://www.monicamain.com/personal_credit_building

By the way, if your were wondering, I was able to raise my FICO score 150 points within a 4 month period, so it DOES work.

To Your Success,

Frank