Tips on managing credit reports
For the average consumer, settling the score with creditors is no easy feat.
Consumers are doing better at managing credit card payments -- the number of people behind on their bills reportedly is on the decline -- but there is always room for improvement.
As part of a regular feature, the Times asked for reader tips on how to improve a credit score.
'You would be surprised what talking to a live person will do,' said James Moneyhun of Manteca. 'I've negotiated for terms such as lower interest rates, loan balances and new payment terms, all in a matter of minutes just from having a friendly conversation with an operator.'
'Most will sympathize with your situation because, most likely, they have been in the same situation,' he said.
Moneyhun said his credit score five years ago was between 450 and 500. He obtained credit reports from Experian, Trans Union and Equifax -- 'go to all of them because all three will show you different information,' he said -- and researched each.
'I started with the agencies I knew I could pay off right now. The ones I knew I could pay off and still live comfortably,' Moneyhun said. 'Then, I called all the creditors who were just too high to pay off and asked them if I (were to) pay the balance up front.'
Full article on ContraCostaTimes.com
Consumers are doing better at managing credit card payments -- the number of people behind on their bills reportedly is on the decline -- but there is always room for improvement.
As part of a regular feature, the Times asked for reader tips on how to improve a credit score.
'You would be surprised what talking to a live person will do,' said James Moneyhun of Manteca. 'I've negotiated for terms such as lower interest rates, loan balances and new payment terms, all in a matter of minutes just from having a friendly conversation with an operator.'
'Most will sympathize with your situation because, most likely, they have been in the same situation,' he said.
Moneyhun said his credit score five years ago was between 450 and 500. He obtained credit reports from Experian, Trans Union and Equifax -- 'go to all of them because all three will show you different information,' he said -- and researched each.
'I started with the agencies I knew I could pay off right now. The ones I knew I could pay off and still live comfortably,' Moneyhun said. 'Then, I called all the creditors who were just too high to pay off and asked them if I (were to) pay the balance up front.'
Full article on ContraCostaTimes.com
posted by Dave at 9:56 AM
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