Explaining Derogatory Credit - By: Rene C. Alexander

Explaining derogatory credit is not easy. I know in my situation, trying to get a job to care for my two year old daughter, I had to do it. It was a constant challenge to have to explain that I was laid off. Burned through the little reserves I had in a month or two and now the late payments were starting to pile up.

That's never easy to explain. Paying late was never my intention but when you either feed your kid or pay a bill. You're priorities stand out clearly. I'm not justifying my actions. Since then I have learned a lot about credit and have settled all my debts. Thankfully I found an employer that saw beyond the credit, to my abilities and I'm back on track.

When I explained my derogatory credit I always went back to my ability to do the job I was applying for. I always touched on my “I can get through this!” type of attitude. I've always felt that an employer would see this as an asset to their company and disregard the credit. To have someone with a fighting spirit, I felt was the priority.

Since they had a copy of my credit, I had one as well. I made sure to give a detailed explanation with accurate dates that would connect to my credit report. I didn't want to lie and get caught, that would create a whole different can of worms. My priority was to acknowledge the damage and get back to the fact that I was ready for the job. The credit was something minor that had happened but in no way did it affect my ability to accomplish the job.

Explaining the derogatory credit became easier with time and it got to the point where I didn't wait for an employer to ask about my credit or discover it on their own. I felt this could lead them to make the assumption that I'm ignoring it and just move on to someone else. I submitted applications and resumes in person with the letter explaining the derogatory credit.

After I got back on track I realized the damage was going to stay there for about seven years. I really didn't want to wait that long to buy a home and do other things that would require credit. I looked into a law firm to do the work for me but it was much to long a process and expensive. You know the longer it takes the more it costs. Being a hands on type of person, I took the plunge and worked on it myself. I've been able to raise my score about 120 points in a year. Now I'm feeling confident about buying that home and not have to explain much about my credit.

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Explaining Derogatory Credit
One persons experience with DIY Credit Repair. Copyright © 2010 Rene C. Alexander This article was originally written by Rene C. Alexander and posted on credit.research-shop.net. Any reproduction without consent is a violation of copyright laws.

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