Credit Report Repair
A good credit report is key to getting housing, bank and credit accounts, even some jobs. So how do you go about turning bad credit into good credit?
There are basic steps to follow.
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Make sure that you get a fresh new copy of all three of your credit reports from the major reporting agencies. Check first to see what is being reported
and what is showing up on only one or two of the reports. Make a list of any discrepancies (a card showing "open" that is closed, accounts showing that
you do not have, etc). This is the first thing to do for any credit report repair. You'll be taking the list of errors and writing to the credit reporting
agencies alerting them to the errors. They will have to either prove that you do owe the debt or that it is correct within a short time period or else they
will have to remove it from the record entirely.
Next, the thing to do is to list any correct but harmful items that are showing in the credit reports. There are times that a quick phone call or letter
can get those "past due payments" and other items that ding credit taken off your report with a simple promise to do better. There are times when even
horrid items such as charge offs can be deleted if you contact them and work out a settlement. Just make sure that any agreement is done in writing;
never take their word for it. Many items can be repaired on a credit report with just these two items done.
Lastly, there are some things that are going to be true and not be able to be helped. Things like bankruptcies, repossessions, and foreclosures are going
to be real pains when you are trying to repair your credit but will not be able to be removed for seven to ten years. In cases like this, try to make sure
all other items are cleaned off your report, pay all your bills on time and a little more than the minimum payments, and watch any signs of identity theft.
Request new reports in three to six months to see if your credit report repair was successful and offending items removed.
Credit report repair isn't a quick and easy thing. It will take time and effort, but it is well worth it for what it will do for your future interest
payments and ability to live your life well.
