Get Your Financial Affairs in Order

You may not be about to die, but you do need to get your affairs in order–especially if you anticipate wanting any kind of credit approval in the next two years.

Boston Globe staffers Andrew Caffrey and Binyamin Appelbaum write…

It makes more sense than ever to clean house - your financial house. This can take a lot of time and a little money, particularly if you have to dispute any information in your credit history.

They suggest a credit score of at least 680 for a loan, and 720 or more if you want favorable rates and terms. You're allowed a free report each year from the major credit reporting bureaus. Request it online at www.annualcreditreport.com. If you're in a hurry, you may need to apply for all three, because, believe me, they will not agree in every detail.

I've particularly noticed mixing up phone and fax numbers, and character interpretations. For example, in Los Angeles, I lived in an apartment numbered I-304. That's the letter "I" followed by three numeric digits. Invariably it gets translated as a 1. That doesn't affect my credit rating, but the lack of attention to detail annoys the heck out of me since my life is in their incompetent hands!

My recommendation is to order only one of the three reports, and keep a record of which one you ordered. The Internet security gauntlet is unforgiving. If you mess up on your order, you won't be allowed to try again for a year. If it goes through, in four months order the next one, and so on. If it doesn't go through, you still have a shot at getting the next one.

I can't vouch for the service, though it's widely advertised, because I can't get through the security hurdles to get my own report. The alternative is to pay for a report.

My confidential e-letter, however, is much easier to receive. All you do is put your name and email address below, hit Submit, then Click the confirmation link in the email you'll receive immediately. As soon as we get your confirmation, you get the first issue of my irresistibly informative and edgy report.