It is always a good idea to review a copy of your credit report annually. By doing this, you can correct any errors on your credit profile in advance of a purchase, establish credit if necessary, or start repairing your credit if you have had problems in the past. Lenders look very carefully at your credit as an indicator of your willingness to repay your loan. Having poor credit, little or no established credit, or having unresolved disputes with creditors, can affect your purchasing power and your ability to get a loan. To avoid unpleasant surprises down the road, you can request a copy of your credit report for a small fee by writing to any one of the following credit bureaus:
1. Experian, P.O. Box 949, Allen, TX 75013
(888) 397-3742 www.experian.com
2. Trans Union Corporation, P.O. Box 390, Springfield, PA 19064-0390
(800) 916-8800 www.tuc.com
3. Equifax, P.O. Box 740241, Atlanta, GA 30374
(800) 685-1111 www.equifax.com
As part of our standard pre-qualification, our Princeton Capital Loan Officer will order a copy of your credit report for you. All we need is your full name, current address, your previous address for the last five years, your phone number, date of birth, Social Security number, and your spouse s name. Princeton Capital will run the report and review it with you, saving you time and money.
When you receive your credit report, check for the following items:
Incorrect Entries: If there is a mistake on your credit report (i.e. accounts that are not yours or on-time payments that are showing as late), you can have them corrected by writing to each credit bureau and requesting that the information be deleted. They will contact the creditor who must respond within 30 days. If the creditor does not respond, the item will be removed and a new credit report will be issued to you. If there is still a dispute, you can add a 100-word statement to your file explaining your side of the story. Outdated Negative Credit: If there are unfavorable credit items older than 7 years showing on your report, follow the procedure outlined above. Bankruptcies can be removed after 10 years.
Current Negative Credit: If you have current credit problems, the time to resolve them is before
you buy. Re-establishing good credit after a bankruptcy or other credit problems is very important. Ask for our flyer, Rebuilding Your Credit for more information.
Having an established credit history is also important, as lenders want to see a track record of debts owed that have been repaid. If you haven t already done so, apply for credit cards and use them, or establish credit history by documenting your monthly rent payments and your monthly payments to utility companies.
1. Experian, P.O. Box 949, Allen, TX 75013
(888) 397-3742 www.experian.com
2. Trans Union Corporation, P.O. Box 390, Springfield, PA 19064-0390
(800) 916-8800 www.tuc.com
3. Equifax, P.O. Box 740241, Atlanta, GA 30374
(800) 685-1111 www.equifax.com
As part of our standard pre-qualification, our Princeton Capital Loan Officer will order a copy of your credit report for you. All we need is your full name, current address, your previous address for the last five years, your phone number, date of birth, Social Security number, and your spouse s name. Princeton Capital will run the report and review it with you, saving you time and money.
When you receive your credit report, check for the following items:
Incorrect Entries: If there is a mistake on your credit report (i.e. accounts that are not yours or on-time payments that are showing as late), you can have them corrected by writing to each credit bureau and requesting that the information be deleted. They will contact the creditor who must respond within 30 days. If the creditor does not respond, the item will be removed and a new credit report will be issued to you. If there is still a dispute, you can add a 100-word statement to your file explaining your side of the story. Outdated Negative Credit: If there are unfavorable credit items older than 7 years showing on your report, follow the procedure outlined above. Bankruptcies can be removed after 10 years.
Current Negative Credit: If you have current credit problems, the time to resolve them is before
you buy. Re-establishing good credit after a bankruptcy or other credit problems is very important. Ask for our flyer, Rebuilding Your Credit for more information.
Having an established credit history is also important, as lenders want to see a track record of debts owed that have been repaid. If you haven t already done so, apply for credit cards and use them, or establish credit history by documenting your monthly rent payments and your monthly payments to utility companies.
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