Repair Your Own Credit

Repair Your Own Credit
Believe it or not, it is possible to repair your own
credit. Do not pay attention to those commercials you see
on television that tell you the only way to clear your
credit report or raise your score is to use a professional
company. Those companies are only out to make a profit off
of you. Now, you might think that repairing your own credit
is a complicated process, but it isn't. It just takes some
time and attention.

The first step you need to take to repair your own credit
is to get a copy of your current credit report from each of
the three major credit reporting agencies, Equifax,
Experian and TransUnion. You are, by law, allowed to get
one free copy of your credit report from each of the three
major reporting agencies per year. You can get your report
in one of two ways, either by contacting each reporting
agency individually (they each have websites) or by going
to freecreditreport.com, which is endorsed by the federal
government. At freecreditreport.com, you can get your
reports from all three agencies at the same time. Most of
these companies will allow you to access your reports for
anywhere from a week to a month without incurring any
further charges. Make sure you keep your information for
this on file somewhere, because you might end up needing it.

Print out your credit reports. Now, sit down and go over
them. Go over them very carefully. Make sure that all of
the information contained in the report is accurate. Make
sure the account numbers are correct, that your billing
information is right and that each account listed in the
report matches your records. Mark down any mistakes you
find, no matter how trivial they might seem.

The next step to repair your own credit is to challenge
each and every one of the mistakes you have found in your
credit reports. The easiest way to do this is through the
websites for each of the major credit reporting agencies.
The best way is to send your disputes in writing. Most of
the websites will have a form you can print out and use.
When you send it in, make sure that you send it via
certified mail with delivery confirmation. Keep the
postcards with the recipients' signatures. By law, the
credit reporting agencies must respond to you within thirty
days to let you know where your disputes stand and they
will send you written confirmation of any corrections that
have been made. They are also required to tell you why
corrections do not get made, in the event that an account
is not corrected. Repeat this step until your credit report
is one hundred percent accurate.

Sometimes the agencies get their information confused and
sometimes there are glitches in the computer. The time it
takes to repair your own credit will vary, but if you are
diligent, you will get your credit score up to where it
should be.

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