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Sunday, 20 June 2010 |
By Jennifer Quilter
 When you've had past financial problems using a car loan to rebuild your credit can be a great part of an overall financial plan.
If your ultimate goal is credit improvement than before anything else you'll want to get a copy of your credit report and look it over. Are there any past mistakes, either yours or someone elses, on your report? If companies have reported things incorrectly make sure to contact them in writing to get them changed. Things you'll want to look for include overdue accounts that you've paid off, or the limit on your cards. If they've marked the limit on your cards as lower than it is you'll want to have that fixed because one of the factors used in calculating your score is the amount of credit available to you versus the amount you've used.
If there are any things from your past, like overdue payments, that need to be paid off now is the time to take care of that.
You're not only fixing these past problems to improve your credit |
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Last Updated ( Sunday, 20 June 2010 )
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