Second Step to Repairing Your Credit

“Analyze Your Credit for Negative items”

Once you have your credit report there are three types of negative items you are looking for.

• Public Records
• Derogatory Accounts
• Unsatisfactory Accounts

1). Public Records which are the worst, include:

• Bankruptcy
• Tax Liens
• Judgments
• Child Support

2). Derogatory Accounts are generally collection accounts.

3). Unsatisfactory Accounts are accounts with late payment 30 days, 60 days, 90 days or more etc.

You also want to look for errors. Some of the errors to look for are:

 PERSONAL INFORMATION SECTION 

· Misspellings of your name

 · Incorrect alias 

· Addresses you’ve never lived at before 

· Addresses you lived at longer than two years ago 

· Incorrect date of birth 

· Wrong social security number 

· Jobs you never worked at before

 INQUIRY SECTION 

· Places you never applied for credit or a loan 

· Auto lending inquiries that shopped your credit around 

· Focus on inquiries that occurred over the last 12 months

PUBLIC RECORD SECTION 

· If you filed bankruptcy before, verify the date filed is correct. 

· If you filed bankruptcy before, make sure the status is correct; filed, dismissed, or discharged. 

· If you have any tax liens, confirm the date filed and balances are correct. 

· If you have any judgments, check the date filed and balances are correct.

ACCOUNT SECTION 

· Verify all your credit card limits are reporting correctly. 

· Look for any late payments that reported in the last 24 months. 

· If you have any collection accounts, verify that you agree with the balance reported, the date it reported, and understand who the original creditor was. 

· On charged-off accounts that have you may have settled, see if there any balances still being reported. 

· If you filed bankruptcy, see if there any accounts on your credit report that were included in the bankruptcy but still show a balance 

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