Credit Repair is Easier - And Quicker - Than You Think!
Regardless of your record or history, there are a number of quick & easy steps you can take towards credit repair. It's never too late, and costs nothing, yet the results can be huge!
To start, you'll need to get a copy of your credit reports and actually go through them. There are three separate credit reporting bureaus and each one will have a slightly different report.
The law now provides consumers the right to one free credit report from each of the bureaus, Experian, TransUnion, and Equfax. You are entitled to one from each company every year.
The FTC, or Federal Trade Commission has a website set up specifically for this: annualcreditreport.com. This is the "official" site for these free reports - be wary of any other offers for "free" credit reports, as they won't actually be free.
You can begin your credit repair efforts once you have your reports in hand. You will want to go through them carefully, line by line.
These reports will either include a "dispute" form, or give you a web address to get them. This is the key where you will begin to fix your credit.
For every entry that is incorrect, inaccurate, or outdated, you will be filing a dispute. Provide the correct information, or why it is incorrect, such as a debt that has been paid but not removed.
Each credit reporting agency has up to 30 days to either verify the information, or they must remove it by law. Even if the information is accurate, if they don't verify it in time, it gets removed.
By taking this simple step, you will find some of those negative entries will come off your credit report, and as such no longer contribute to a low credit score. In some cases, this can boost your score by hundreds of points!
To start, you'll need to get a copy of your credit reports and actually go through them. There are three separate credit reporting bureaus and each one will have a slightly different report.
The law now provides consumers the right to one free credit report from each of the bureaus, Experian, TransUnion, and Equfax. You are entitled to one from each company every year.
The FTC, or Federal Trade Commission has a website set up specifically for this: annualcreditreport.com. This is the "official" site for these free reports - be wary of any other offers for "free" credit reports, as they won't actually be free.
You can begin your credit repair efforts once you have your reports in hand. You will want to go through them carefully, line by line.
These reports will either include a "dispute" form, or give you a web address to get them. This is the key where you will begin to fix your credit.
For every entry that is incorrect, inaccurate, or outdated, you will be filing a dispute. Provide the correct information, or why it is incorrect, such as a debt that has been paid but not removed.
Each credit reporting agency has up to 30 days to either verify the information, or they must remove it by law. Even if the information is accurate, if they don't verify it in time, it gets removed.
By taking this simple step, you will find some of those negative entries will come off your credit report, and as such no longer contribute to a low credit score. In some cases, this can boost your score by hundreds of points!
posted by Credit Counseling at
12:28 PM
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