DIY Credit Repair

Credit scores sometimes feel like the GPAs of high school. It’s just a number but also has a lot of power of what you can be approved for (like GPAs determine what colleges you can get into). If you’ve struggled with credit, it may be tempting to call the 800 number you hear on the radio promising you an overnight solution to repair your credit. As tempting as it is, do not do it! Most of these are just scams that will get you to spend money you don’t need to.

You can work on repairing your credit yourself and you should. 

Step #1 – Monitor your credit

The first step is seeing where you are at. You can get copies of your full credit reports from all the credit bureaus (Experian, TransUnion, and Equifax) by going to or calling 877-322-8228. You are able to get your reports for free once a year via Annual Credit Report. 

You can also sign up for a reputable credit monitoring service. These services help you by sending alerts anytime there is suspicious activity on your credit and also giving you the ability to check in often. You can find a list of some options here.

Step #2 – Dispute any errors

Once you have your reports, you should review them for accuracy. Confirm that your name, address, social security number, and all other personal information is correct. Then review all the accounts reported including balances. If you see any errors, you can tell the credit bureaus in writing what information you think is incorrect. Make sure to include copies of supporting documents (bank statements, credit card statements, etc). You can find a sample letter for disputing errors on your credit report from the Federal Trade Commission here.

According to the Federal Trade Commission, credit reporting companies must investigate the items you question within 30 days unless they consider your dispute frivolous. Once the investigation is complete, the credit reporting company must also give you the results in writing and give you another free copy of the report. 

Step #3 – Control the things you can control

While sometimes there can be errors on your credit report that negatively affect you, a lot of the time your scores can be in your control. If you have a poor credit score because of things like missing payments, maxing out accounts, or applying for too much credit in a short period of time, work on improving these behaviors: 

  • Always try to pay your bills on time even if it’s just the minimum payments. 
  • Work on paying off your debt, especially high interest credit card debt.
  • Avoid applying for new credit. If you are trying to get a handle on your credit, one of the best things you can do is break the cycle of continuing to apply for new credit. 

For more information, or if you have any questions, please reach out to your trusted wealth advisor at Warren Street Wealth Advisors.

Veronica Torres

Director of Operations, Warren Street Wealth Advisors

Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor

The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.

Talking About Money Before & After You Marry

Talking About Money Before & After You MarryNo money secrets should stand between the two of you as you wed.

Provided by: Warren Street Wealth Advisors




No married couple should suffer from financial infidelity. If you hide debt, income or assets from your spouse, it can lead to a fight and possibly even an impasse in your relationship.


Communication & transparency are essential when it comes to money. That truth should be recognized by every couple tying the knot, or even just cohabitating. Yes, financial matters can prove hard to discuss – but if you can’t talk about them together, that’s already a serious problem.


That problem may affect more couples than we realize. In 2013, 7% of engaged individuals who answered a National Credit Counseling Foundation poll said that if they discussed money issues with their fiancé, it would prompt a fight; 11% felt such a talk would uncover financial secrets, and 5% said it would “cause us to call off the wedding.”1


On the bright side, 32% felt a conversation about financial matters would be “a productive and easy conversation to have.” The most frequent response (45%) was that a money discussion would be “awkward,” but also necessary for the health of the marriage.1


You have to tell your future spouse about your debts. Do it before you get married, not after. That debt will become your spouse’s financial concern as well as yours. The two of you should plan together to pay down your individual debts in the coming months or years. Again, this represents a shared commitment. Don’t put your name on your deeply indebted spouse’s credit card. Attaching your name to that account will have minimal impact on your FICO score, but you don’t want to pay a (literal) price for your spouse’s runaway financial impulses.2


If you have six credit cards between the two of you, see if you can slim it down to three or four – the ones with the lowest fees and best rewards programs. Or see if you can just use those three or four and let the other accounts lie dormant. That might be a better move than just canceling the excess credit cards – that could hurt you, especially in the case of older accounts. About 15% of your FICO score is based on the duration of your credit history, so if that was good history, you don’t quite want to say goodbye to it.2


Think about a new joint credit card account for the two of you. If you feel your spouse needs debt counseling before you can make that move, don’t be shy about requesting it. Even if your spouse has been living on plastic, think twice about leaving him or her without a credit card. You want (and need) to show some credit history.


You will have to compromise. The most valuable verb in marriage is also really valuable when it comes to your shared financial life. Maybe you’re a good saver, a future “millionaire next door” – and yet your spouse is a comparative spendthrift. If you can’t compromise on a “money policy,” then maybe you can find a middle ground by saving for a special experience. Or, maybe each of you can set aside a bit of money per month to spend or save purely at your discretion.


You may want to pay the bills proportionately. If one of you earns 70% of the household income, then maybe that spouse should pay for 70% of the household bills and expenses. To many newlyweds, that seems entirely fair.


Build retirement savings & an emergency fund together. Financially, there are few better ways to signify your long-term commitment to one another.


Wait on a big purchase. Consider waiting 24 hours (if you can) before going through with it. Or, alternately, set a dollar limit on such purchases – give each other limited financial autonomy I making major purchases that ends at X hundred or X thousand dollars. If the money exceeds that limit, then you both have to discuss it before it can occur.


Make a budget. In fact, strive to make a zero-based version, a budget in which income minus expenses comes precisely to zero each month. This is a way of accounting for each and every dollar spent (actual or projected) and a way to pinpoint potential monthly savings or redirection of income toward expenses.


Watch those taxes. Should you file your taxes jointly? Not necessarily. That is wise for many couples, but if your incomes vary greatly it may be better to file separately. Consult a tax preparer for an answer. Also, look at your W-4 at work. It may be time to adjust your withholding status. If your spouse isn’t employed, you get to add another withholding allowance. Assuming he or she is employed, you can turn to to learn how many allowances you are due in total. Then, you can divide that total by two. You and your employer need to follow the instructions on the W-4 so you don’t withhold more or less than you should.


Talking about money isn’t always pleasant, but candor, communication and full disclosure can lead to clarity in your financial lives.


Warren Street Wealth Advisors

190 S. Glassell Street, Suite 209

Orange, CA 92866


Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC.
Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered
Investment Advisor. Warren Street and Cambridge are not affiliated.


This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.



1 – [5/31/13]

2 – [9/23/14]