A Simple Step for Doing Your Own Credit Repair

In today’s economy, everyone needs to maintain their good credit score. A good credit rating means you are financially responsible. If you have had an overdue student loan, late payments on your credit card a foreclosure or even late on your cellphone bill, you probably have a low credit score, which can cost you a job, a house or New credit.

This article covers some tips to help you do the credit repair yourself, but if you get overwhelmed by the amount of work you can always get help from a credit repair specialist. There are also many books for the Do It Yourself Credit repair person, but if you get over whelmed you can contact a credit repair specialist to help you.

Before you begin do-it-yourself credit repair, you’ll want to get copies of your full credit reports from all three bureaus (Experian, TransUnion, and Equifax). You can get your reports truly free, once a year, at www.annualcreditreport.com.  It’s always better to know what you base point is.

There are several Simple Steps for Doing Your Own Credit Repair

Know where you stand. Before you begin your do-it-yourself credit repair. Errors are common on credit reports almost 80% of people have negative items that are not supposed to be there. Once you have the copy of your full credit report in hand, check your identity information (Social Security number, spelling of your name and address), and credit history.

Look over the list of credit cards, outstanding debts, and major purchases. If you see any errors or questionable items, make a copy of the report and highlight the error. Next, collect any information that you have to back you up, such as bank account statements, and make copies of these as well.

Tell the credit reporting agency, in writing, what information you think is inaccurate. Include copies (NOT originals) of any documents that support your position. In addition to including your name and address, you should identify each item in your report that you dispute; write the facts and the reasons you dispute the information, and ask that it be removed or corrected. Enclose a copy of your report, and circle the items in question. Send your letter by certified mail, “return receipt requested,” so you can document that the credit reporting company got it. Keep copies of your dispute letter and enclosures.  You need to keep records and when the credit agencies send your report back check it over again and if the negative item is not removed you may need to do it again.

Here are the contact numbers and web sites for the three credit bureaus:credit-bureau-logos-450x315

Experian: 1-888-397-3742 – www.experian.com

TransUnion: 1-800-916-8800 – www.transunion.com

Equifax: 800-685-1111 – www.equifax.com

No one said it would be easy to regain a good credit status, especially with the economy this down in the dumps. You can do your own credit repair cleanly, legitimately, but it would take some time, and some continuous, focused effort.  Remember you can always get a Credit Repair Specialist to help you.

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