Fighting Problems On Your Credit Report

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Jun 232016
 

images (2)Have you ever looked at your credit report and known something was wrong but weren’t able to do anything about it? Well the truth is that you actually can do something about it. A lot of people don’t realize it but their credit report is managed by people in the end and that means those people could make mistakes. They try to get all the information right and make sure that your report is accurate (remember the credit bureaus aren’t giving you anything or getting anything in return for keeping your credit score good or bad so they really don’t care either way). Sometimes, however, information doesn’t get reported properly or they get things mixed up. When that happens, you can challenge it.

You are allowed to contact the credit bureaus any time you look at your credit report and find something that isn’t right. It could be anything at all from your name, address, birthdate or employer to actual accounts reported on your page. What you want to do is make sure you’re looking over absolutely everything that’s reporting. You want to know everything about your accounts as well. So look at late payments, delinquent accounts, balances owed and anything else you can find to make sure it’s accurate according to what you know is on each of those accounts.

If you find something wrong you’re allowed to write directly to the credit bureau and let them know about it. You’ll need to include identifying information for yourself, which is usually your name and birthdate and maybe your social security number. Then you need to include as much identifying information about the account and what’s wrong with it as you can. That way they know what needs to be changed. It can take up to a month for them to make the changes but they should send you an updated credit report when they’re done or let you know why they aren’t making the changes if not.

If you get a letter saying they can’t verify what you’ve told them then it’s time to step things up. You can look up the information if you like and send it to them or you can simply tell them that they need to verify it better. Make sure that you don’t give up if something is wrong with your credit report. It’s illegal for them to leave anything there that they know is incorrect so you have the ability to just keep fighting it until you get those incorrect accounts removed from your report.

No matter what your credit score is going to affect the type of loans that you’re going to get. You don’t want to have a bad credit score keep you down when it shouldn’t. So make sure you get your report taking care of right away. Once you’re done make sure that you come back over here and check out this loan application for your next car. Even if you have bad credit you can get the loan you want.

The Important Parts of an Auto Loan

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May 202016
 

If you’re going to get an auto loan from New Car Canada – Car Loans For Bad Credit you have to know what it really means. For a lot of people loans can be complicated and that means they don’t get the best possible deal on their loan and they end up paying a whole lot more money than they should. So what should you know about your loan before you sign on the dotted line and take on that expense? Well there are a few things you should consider.

 

Total Loan Amount

The first thing you need to know is the total amount of the loan you’re taking out. You want to know the exact number that you’re going to have to pay back (plus interest of course). Make sure you hash out all the details on the number you need and don’t take out anything more than you absolutely have to. You’re going to be paying interest on that amount after all. If you’re looking to get a loan for a new car make sure you check out some more information below!

total loan amount

The Loan Term

Find out how long you’re going to have the loan for. Is it a two year loan? Five years? 10 years? You want to know exactly how many years and months you have to pay off the loan in full and that’s going to impact how much you’re going to be paying each month as well. A longer term means you pay less each month but you’ll pay more interest overall.

 

The Monthly Payments

How much you’re going to be paying each month is going to be a math equation of the total loan amount divided by the loan term and multiplied by the interest amount that you’re getting. You want to know what your required monthly payment is going to be each month so you know whether or not you can actually afford it.

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The Interest Rate

This is going to be an extremely important part because if you don’t know what your interest rate is going to be you could end up spending a lot more than you want to on your loan. The worse your credit is the higher your interest rate is going to be typically and this could be a problem if you don’t have a lot of money. On the other hand, if you get through the payments you’ll end up improving your credit score and that’s going to help you out later on.

 

The Extra Fees

Make sure you’re not paying a lot of extra fees just for someone to set up the loan. You don’t want to be paying more than you’re going to get in return and if you’re paying a fee for set up that’s exactly what you’re doing.

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Getting a loan isn’t the hard part, making sure you’re getting a good deal and you’re not spending more than you need to is going to be the difficult part. So make sure you work out all the details and you know everything that’s going on before you sign on that line.