Self Help Credit Repair

Better Credit Starts Here

How to Repair your Credit

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Are you wondering how to repair your credit? Tackling the task is not as daunting as it sounds. This is definitely something can do yourself and it is something that is may be in your best interest to do without the help of any company offering to assist you.

Under the Fair and Accurate Credit Transaction Act 2003, you are entitled to a free copy of your credit report from Equifax, Experian, and Trans Union once per year. This can be done online, by phone or by mail. Since all information is not always the same, it is very important to obtain a report from each of these three entities.

The most time consuming part of credit repair is carefully and meticulously checking each one, line-by-line, for errors and payment-date data, ensuring that all recorded information agrees with your personal payment records. It is very important to note any entries which may have been passed to a debt collections company.

When you find errors, it is very important to carefully follow ‘report dispute’ instructions. It is also advisable to include a copy of the report with ‘errors’ clearly marked or highlighted along with a cover-letter.

Once you have a clear picture of your credit situation, begin paying some of the past due amounts while maintaining current payment status on all other bills. Pay off one or more entries, or make payment arrangements, making sure to get any arrangements in writing before making a payment.

Begin establishing positive credit history by opening at least one new account. Major credit card companies may not accept your request; therefore, it is prudent to apply to only one company. If turned down, apply for a department-store card or a secured credit card which requires a deposit of 10-30% of the account limit.

If you cant follow these instructions, and anyone can, you will be well on your way to restoring your credit.

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