JTB LOVE MINISTRY                                        FINANCIAL HELP

HOW TO FIX BAD CREDIT ON YOUR OWN!

WE ALL MAKE MISTAKES and making poor financial choices and decisions is probably TOP on that list!  The Holy Bible Tells us at Haggai 1:5-6:

"Now therefore, thus says the Lord of hosts: “Consider your ways!  

You have sown much, and bring in little; You eat, but do not have enough; You drink, but you are not filled with drink; You clothe yourselves, but no one is warm; And he who earns wages, Earns wages to put into a bag with holes.”

If you want to fix your poor credit history, we can help?  And, you do NOT have to pay expensive credit repair companies to do it.  You just have to want to and you should.  We live in a nation that thrives on credit.  And, poor credit only ends up costing you more in interest rates, and denials of automobiles, home ownership and even employment.  

The GOOD NEWS is: it's only a temporary situation.  You can repair your credit on your own and Here's How?

1.  Pull your CREDIT Reports from the 3 Bureaus, Experian, Equifax and Transunion.  You can go to www.annualcreditreport.com and pull them for FREE, once a year.  You can also go to www.CreditKarma.com which is a legitimate service and there is no credit card and you do NOT have to remember to cancel any free trial offers.  With Credit Karma you can get your FREE TransUnion and Equifax credit report which is what most creditors reference and get updates as often as once a week, but you still want to get your Transunion, Experian and Equifax reports from annualcreditreport.com also to ensure that the information on all THREE reports is accurate as some credit bureaus may have credit information in it that the others may not have.   

When you pull your credit reports, be sure to check the spelling of your name, date of birth, social security, addresses and credit history they listed for accuracy.  Also, many people have the same name and especially when their is a Sr. and Jr.  Some credit bureaus can mix that up, not often, but it does happen.  

2.  Once you find errors, you MUST dispute them.  Send a letter to the Credit Bureau and list the dispute and the reason.  Click here for a sample letter you can use.  Be sure to follow the directions in the letter carefully and send the required identity verification documents.  You can send the letters regular mail, but sending certified mail is the BEST option as you will have a receipt and a date stamp of when sent.  The Credit Bureaus have 30 days from receipt to respond.   Some Credit Bureaus are now allowing you to send a dispute online, but I believe the "Certified Mail" route is the best option.  Here is the contact information for the THREE Credit Bureaus if you wish to use the online system.

3.  What to do While you Wait to Hear Back from the Credit Bureaus?

  • Pay ALL your bills on time.

  • Do NOT apply for new credit

4.  Stop frivolous purchasing as you can use this money to pay down credit cards

  • I suggest paying off your smaller credit cards first because it gives you a sense of accomplishment when you see that credit card go to a zero balance.  And, once you do, do NOT cancel the credit card as that might hurt your credit score more.  

  • Consider putting as much as you can spare on that debt to get it paid off faster, while paying the minimum monthly payment AND the interest on other credit cards.  That way you will also see a deduction in your balance on those also. 

  • As you pay off your credit cards, go to the next lowest credit card, and take the money that you were paying monthly on the paid off debt and apply it to that credit card.... 

5.  Pay Yourself - Be sure to put away monies in a Savings Account and consider yourself a Debt also that needs to be paid.  

In Summary, depending on your individual situation it could take only a few months (4-6) on the average to get yourself into a better buying situation for an auto loan or home.  To purchase a home the minimum FICO score requirement for an FHA loan  is around 640, but strive to get to 680 - 700.  When you begin to clean up the errors on your credit report, pay your bills on time and pay down your debt, you will see how quickly your credit score can jump in points.  

If you would like to seek our assistance and guidance in helping you boost your credit score, please contact us at

480-980-2658.  We look forward to assisting you.  

image of fico score.jpg