How to repair your credit has always been a very controversial issue. A good many people are advocates of self help, but the huge repertoire of credit repair services who can boast satisfied customers would seem to suggest that getting outside help may be worthwhile.
Never mind all the gossip and rumors you’ve heard about credit repair companies. Let’s look only at reality. Self credit repair is entirely possible and in keeping with in the law. Any one can do it given a bit of study.
But it should also be pointed out that a great deal of effort and time is involved. Although one can do it, lots of people still choose to hire a credit repair agency solely because they do not have the time and inclination to learn all that it takes to do it on their own.
If you would prefer to learn how to repair your credit, these five simple steps will show you how. Once you learn the “how”, you’ll have a better idea of whether you wish to go it alone or hire help.
OK let’s get started.
Step 1
Get your credit reports. This is essential because in most cases you will find that on learning how to repair your credit, and will put you on the road the problem lies in mistakes on your credit report. Call 877-322-8228 or visit AnnualCreditReport dot com.
Step 2
Locate the mistakes in your credit report . Here’s what you’re looking for – accounts that are not yours, credit cards that are maxed out, and incorrect information of any kind.
Step 3
Write letters disputing the erroneous information, one for each credit Bureau that lists that information. Do not dispute too many errors at once, or your letter will be ignored. You can attach documentation if you have any (copies only). The better documented is the proof, the faster it will be removed.
Step 4
Add good things to your report that will help your credit score. Get them reported and entered. Make certain all timely payments are showing on your report. It’s a good idea to procure a secured credit card as this could improve your balance to credit limit ratio.
Take concrete steps to pay off your debts, especially credit cards. Make it a priority to pay these first, because it will save you the most due to the high rates.
Step 5
But another good option is to just seek the help of a trusted credit repair professional and take advantage of their expertise in how to repair your credit. This will free you from learning how to repair credit; all you need to know regarding how to repair your credit, is how to find a reputable company.
A few tips are in order; avoid closing paid off credit card accounts; If you decide to get third party help
beware; contact the company and ask for recommendations. You would be well advised to check with the Ethical Credit Repair Alliance, the “watchdog of credit repair companies.”