There is no denying the market is bad. In fact, BAD may be an understatement. In slow economic times, your greatest ally in financing can be your Consumer Credit Report. I have spent years as a credit analyst and one thing is for sure: your personal credit score is the top indicator of perceived risk to a financial institution. If you have great credit, lenders will view you as low risk and you will be able to obtain financing at a low cost. However, if you are a perceived credit risk, be prepared to pay higher fees for less money on a loan or line of credit.

The best thing you can do to protect yourself and qualify for better rates is to monitor and maintain your credit profile. Research indicates that 70% of credit reports have false or inaccurate information. So, 7 out of 10 people have a chance to increase their credit score and pay less for financing just by reviewing the credit report and clearing up any false information, thereby increasing your credit score and saving you money. You can challenge false information by calling the credit bureaus or sending in a letter. Contact information for each of the bureaus is as follows:

TransUnion
PO Box 34012
Fullerton, CA 92834
(800) 916-8800

Experian
PO box 2002
Allen, Texas 75013
(888) 397-3742

Equifax
PO box 740241
Atlanta, GA 30374
(800) 685-1111

In a time like this, ever dollar counts. Take a look at your credit report and make sure false reporting is not tarnishing your credit record. If you would like to obtain a copy of your credit report and receive a free analysis, please call me at (877) 882-4368, ext 865. I would love to help you improve your credit profile.

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