How to Fix a FICO Score

Video Transcript

"This is financial adviser, Patrick Munro, talking about how to fix a FICO score. Well if the FICO score needs fixing, that means it's broken, which means you may have bad credit. If you have bad credit, it's important to get a credit report and see where you stand. And what needs to be fixed. To do this you would contact a credit reporting agency. There are three of them. Experian, Trans Union, and Equifax. When you call there, they will rather not call, but write, you must write them, and they're addresses are on the websites, or you can get the websites from your credit card company or mortgage company readily. Once you call these agencies, in a matter of time you will receive the credit report and look through line by line, you know, recognize your creditors there and the amounts that you do owe. And your credit reporting history it's all laid out in the report. It's quite a comprehensive report. And if you see something in there that is not to your liking and appears negative in the report, you can write the credit report agency and make it right with the supporting documentation. They will then adjust the reporting and your credit FICO score will go back up. This is Patrick Munro talking about how to fix a FICO score."