Instant Online Credit Report - Get Your Report Online and Improve Your Score

If you are considering making a major purchase in the future or have applied for financing and was turned down, a copy of your credit report should be obtained. This can determine what is on your credit report. There are several sites online where you can obtain your credit report for a small fee or sometimes free. The following are types of accounts you may see on your report.

Charge-Offs

Accounts you want to work on first are charge-offs. When a company charges-off your account, they have given up and consider it a loss. You will need to contact the creditor and ask for a re-instatement of your account. Let them know why you defaulted on your account and you are ready to begin payments on the balance. Most companies will understand this and will allow you to take care of this. This will be reported to the credit bureaus that you are taking care of this account. If they don’t allow you to re-instate your account, they may ask you to pay a settlement on the account. It is very important, however, to get this statement in writing.

Late Payments

The next accounts to take care of are late payment entries. These can be easy to clear up. Contact the account creditors and let them know why you were late on your payments and the issue has been taken care of so you can make your future payments on time. Ask them if they will remove these items from your credit report if you make your payments on time for a set period of time, such as ninety days. Most creditors should help you to remove these.

Judgments

After you have settled the charge-offs and late payment entries on your credit report, you need to take care of any judgments against you. This is where a judge has ruled in favor of the creditor and it is in the court system that you shall pay the money back to the creditor. In order to remove them, you need to pay them in full. Once the accounts are paid in full, the account will be reported as closed.

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If you notice any errors on your report, you can also fill out a dispute form with the credit bureaus websites. Once you’ve cleared off the entries on your credit report, you are on your way to better credit. However, you should obtain a credit report at least once a year to check for any discrepancies. To get your credit report, simply go online.

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