Rebuilding your Credit Report

Rebuilding your Credit Report
You cannot erase the past credit report issues for usually
7-10 years. With a little work you can rebuild your credit
report before all negative information is set to expire.
Here is five easy steps to rebuild your credit report.

Step 1: Examine the Damage
The first step in fixing past mistakes is to get a current
coy of your free credit score report. Don't be scared, got
ahead and take the plunge order all three credit reports
with all 3 credit scores. Ordering your credit report is
actually easy and secure on-line. Contrary to popular
belief ordering your own credit report does not affect your
credit score.
Once you have pulled your report print it out and highlight
all information that is incorrect. Make sure you understand
everything on it.

Step 2: Check the expiration dates
The current law states that negative information will stay
on your credit report for 7-10 years from collection date.
The expiration date will vary depending on the type of
collection. When you pay off a collection that does not
mean it will be removed from your report.
Examine your report and determine when each collection is
set to expire. Once these collections are set to expire you
will see major improvement to your score.

Step 3: Dispute errors
If you find inaccurate information such as, fraudulent
information, collections that expired still reporting, you
have the right to dispute. You will have to dispute each of
the 3 credit bureaus separately, Equifax, Experian and
TransUnion.Once you the bureaus have received your dispute
they have 30 days to determine whether they will update
information requested.

Don't dispute good credit on your report, accurate
information cannot be removed from your credit report and
is a waste of time. Disputing accurate information could
harm your credit.

Step 4: Add positive credit
Now that you have disputed information that is not correct
and have hopefully got it removed or update you can begin
to add positive credit to your report. The quickest way to
do this is to get a Orchard bank secured credit card. This
credit card is designed to rebuild credit even for people
that just got out of a bankruptcy. Make sure you use this
card responsibly. Also avoid going applying for to lots of
credit, you really need a couple of secured credit cards to
start establishing good credit.

Step 5: Monitor your progress
It is very simple to monitor your progress of increasing
your creditworthiness these days with credit report
monitoring services. You can sign up for credit reporting
monitoring services that will allow you to monitor your
credit score, get key changes e-mailed to you, along with
access to your credit report. Your credit score will
improve over time as you add positive information to your
report.

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About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.