Credit reports are there for a reason, they are tools to help you see how much debt you have incurred and how much you can obtain in the future.

Here are some ways to clean up your credit report and start living debt free.

1. Obtain copies of your credit reports. There are three major credit report agencies: Equifax, TransUnion and Experian. Each report may contain different information.

2. Review all of your credit information as close as possible looking for any errors or misinformation. It is important to check your personal information, such as your name and address; sometimes another person’s information can pop up.

3. Keep older accounts open. The amount of time you have an account open and up to date, the better it looks to creditors.

4. If you find errors, it is important to call the credit report agency or contact them by email to inform them. These sites will also provide you with the proper forms to fill out to make a discrepancy report.

5. Assess your debt. A credit report will give you a clear understanding of just how far you are in debt. Use the report to contact creditors to work on getting your debt erased faster.

6. Keep new accounts to a minimum. It looks bad to potential creditors if you’re constantly seeking out new credit.

By cleaning up your credit report you’ll raise your credit score which could save you thousands of dollars in lower interest. This is the only way to make your money work for you.

Credit PowerPoint by SageFox PowerPoint