How much do you know about fixing credit?
Today, financial information is available throughout countless newspapers, magazines and websites, as well as television and radio programs worldwide. With vast amounts of data and opinion for consumers to sort through, even the most well-informed individual can have difficulty sorting out financial facts from hype, misconceptions and fiction.
Having the most current and accurate information is an essential part of making the right decisions regarding your finances. Take a moment to complete our quiz on fixing your credit. It's quick, easy, and may provide information to help get your credit back on track.
Sorting fact from fiction: A quick quiz on fixing your credit
- Which of the following can have a negative effect on your credit?
- late payments on your credit card
- balance transfers on multiple credit cards
- not applying for your credit report
- all of the above
- I can get a copy of my credit report by doing which of the following:
- True or False: No matter what your situation, have options when it comes to fixing your credit.
1. Answer: D. All of these are examples of actions that can negatively impact your credit. A history of late payments and balance transfers is considered a high-risk can contribute to a poor credit score. Activities such as these are maintained in your credit history and are reflected in your credit report. Applying for a copy of your credit report is an important step in gaining a better understanding of your credit history. Getting your credit report can also help you identify inaccurate negative information that is being reported by credit reporting agencies and contributing to your poor credit.
2. Answers: A, C, and D. According to the Fair Credit Reporting Act (FCRA), you are entitled to receive, by request, a free copy of your credit report every 12 months. Among the easiest ways to get your report is to apply through the Annual Credit Report website or by calling 1-877-322-8228. These services were established by the country's largest consumer credit reporting agencies, Equifax, Experian, and TransUnion, which also have instructions on how to apply for your credit report available on their websites.
3. Answer: True. Every consumer looking to fix his or her credit has a situation with its own set of unique challenges. Professional services, like those offered by Lexington Law, can provide valuable assistance in the credit repair process.
Providing services for 25+ years, Lexington Law has represented over 1 million clients in their credit repair efforts. Last year alone, Lexington Law assisted clients with the removal of over 9 questionable negative items from their credit reports.