Basics of Credit Repair
People who know they have "bad" credit and are a big "credit risk" are usually aware that something has to change with the way they manage their money and debts.
It is actually possible for you to travel the "repair road" with yourself as the driver. However, when setting out on this trip, you will need a triptik to break down the milestones on the way.
There are some basic steps that need to be taken to solve the credit problems that are occurring. Initially, know your credit score. A score over 700 is known to be "good." A 3 digit number under 700 can be problematic. Find out this information via your credit score.
You can gather this information by securing your credit reports. Don't be afraid to look at them. They will provide essential information. Arrange to get these reports from the Credit Bureaus. There are 3 credit bureaus: Experian, Equifax, and TransUnion. You are entitled to a free report from each once a year. There is a charge for the credit score. See www.annualcreditreport.com for details.
It is possible that each of these reports may actually be different. Therefore, it is very important to obtain all three report for comparison.
After the comparison, examine each report for errors. Determine the nature of the error or errors and DISPUTE THE ERRORS. This will take some time but you are the one who has to fix it.
Contact the credit bureaus in writing with a copy of the report, the errors and reason why you need to have it rectified. Remember to keep copies of everything you send. There's an old saying: "If it's not documented, it didn't happen."
Please approach this part of the process carefully as you would any DIY project. Deal with problems along the way, stay calm and this part of the project will get finished.
It is actually possible for you to travel the "repair road" with yourself as the driver. However, when setting out on this trip, you will need a triptik to break down the milestones on the way.
There are some basic steps that need to be taken to solve the credit problems that are occurring. Initially, know your credit score. A score over 700 is known to be "good." A 3 digit number under 700 can be problematic. Find out this information via your credit score.
You can gather this information by securing your credit reports. Don't be afraid to look at them. They will provide essential information. Arrange to get these reports from the Credit Bureaus. There are 3 credit bureaus: Experian, Equifax, and TransUnion. You are entitled to a free report from each once a year. There is a charge for the credit score. See www.annualcreditreport.com for details.
It is possible that each of these reports may actually be different. Therefore, it is very important to obtain all three report for comparison.
After the comparison, examine each report for errors. Determine the nature of the error or errors and DISPUTE THE ERRORS. This will take some time but you are the one who has to fix it.
Contact the credit bureaus in writing with a copy of the report, the errors and reason why you need to have it rectified. Remember to keep copies of everything you send. There's an old saying: "If it's not documented, it didn't happen."
Please approach this part of the process carefully as you would any DIY project. Deal with problems along the way, stay calm and this part of the project will get finished.
About the Author:
With never before seen challenges in the credit markets it's more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
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