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Finding out how much you owe to whom |

Finding out how much you owe to whom

If you are currently going around looking for credit repair services because you are overwhelmed with debt, the first thing you should do is identify how much you owe and to whom. From manual to high-tech approaches, there are several ways you can do this.

The most low-tech and what many people see as the slowest method is to analyze each bill individually and calculate the balance due along with the lender’s name. You should also be sure to keep track of each piece of information as you go forward, using spreadsheets, personal finance software or an online service. While most programs will pull in balance details directly from lenders, you will need to do it manually if you are using a spreadsheet. Consider signing up for online access to each of your lenders so that you can keep a check and maintain records accordingly.

This can help you secure all of your bills. If you have moved around a lot, then the right thing to do is pull in your free copies of annual credit reports. This way you will be easily able to find out what your lenders are reporting to the credit agencies. As a leading credit repair company, we recommend that you secure all your reports from the three major reporting agencies (TransUnion, Experian and Equifax). Consider this essential as all the three reports consist of different details.

When applying for your credit reports, keep in mind that all of these reports might not be up to date, due to the typical lag in reporting. Nevertheless, once you have all the reports, remember to contact each lender to find out the current amount owed. Later, you can sign up for online access to each of these accounts to track balances and payments precisely.

Planning and organization are two of the most important aspects when it comes to keeping your financial obligations up to date. Therefore, taking some time to accurately calculate balance and amounts payable will surely save you a lot of time later. In addition to this, you will also be able to avoid many late fees.

As one of the leading credit repair services, at Quick Credit Repair, we feel it is our responsibility to help our clients keep track of their balances and payments so that they are able to secure a better credit rating. Click here to get in touch with us for more information on ways you can use to improve your credit score.

Mark Lovelace
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Finding out how much you owe to whom

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