Understand your credit, understand your rights.
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UNDERSTANDING YOUR CREDIT

Your credit score is made up of much more than just the collections of your past.

35% Payment History.  Collections fall into this category, but so do your positive on-time payments for your open and active accounts.

30% Amounts Owed. More specifically the amounts you are carrying on your revolving lines of credit such as credit cards.  Keep those balances low!

15% Length of Credit History. This is the amount of time your accounts have been open.  An 18 year old who just got his first car loan will not have a similar credit history to a senior who is 4 months away from paying off their mortgage. 

10%  New Credit.  When you first get a line of credit this portion of your score is negatively impacted.  See our blog post on why

this happens.

10% Types of Credit.   Also known as your credit-mix, this is best to make sure you have an even assortment of credit lines in a

one-to-one ratio.

UNDERSTANDING YOUR RIGHTS

According to the FTC (Federal Trade Commission), nearly 80% of Americans have errors and inaccuracies on their

credit report. 

The Fair Credit Reporting Act states that everything on your credit report must be free from errors, must be accurate and that you have the right to dispute these inaccuracies. 

When you notice inaccuracies, you have the right to open a dispute and verification process with the credit bureaus and the creditors who report this information and demand that they correct the inaccuracies.  

At Loan Ready Credit, we are here to help.  Simply click the link or give us a call for your confidential, free credit analysis.

After the analysis, we can determine if you might value from credit restoration.

 

The Fair Credit Reporting Act.
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OBTAINING A COPY OF YOUR CREDIT REPORT

Obtaining a copy of your credit report is an important first step to determining if credit restoration is right for you.  If you haven't yet pulled a copy of your credit report - there are a number of companies that you can pull your credit report for free.  You can get a free report with all three bureaus, and if you like optional credit monitoring for an additional charge.

 

Visit www.annualcreditreport.com for your free credit report.  If you are looking for a report with scores check out these companies.
 

​Ryan Pearsons
"I didn't think I could qualify for a home so quickly, thank you!"