Simple Credit Repair Anyone Can Do - Even You!
Whatever your background or record, you can take some simple and quick steps to begin your own credit repair. It costs nothing and you can begin right away - but the results can be tremendous!
The first step is to get copies of your credit report, read them, and understand them. There are three credit reporting agencies, and there can be differences in your file between them.
The law entitles consumers to a free copy of the credit report, one from each of the three agencies: TransUnion, Equifax, and Experian. You are able to get one from each bureau 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.
As soon as you receive your reports, you can begin the process of credit repair. You will start by going through these files line by line.
Along with the report, you will get a "dispute" form - or an address where you can get it. This is where your initial credit repair efforts will focus.
Make a note of every outdated, inaccurate, or incorrect entry - you will be disputing these. Fill out a dispute form and provide corrected information, or why it is inaccurate, such as debts that have already been paid but are still listed.
By federal law, the credit reporting bureaus have up to 30 days to verify each dispute. If they don't do so, or don't do it within the 30 days, they must remove those entries from your credit report.
With just this simple step, some of these negative entries will be removed from your credit report. They will no longer contribute to a low credit score, and your score will immediately go up - sometimes by hundreds of points!
The first step is to get copies of your credit report, read them, and understand them. There are three credit reporting agencies, and there can be differences in your file between them.
The law entitles consumers to a free copy of the credit report, one from each of the three agencies: TransUnion, Equifax, and Experian. You are able to get one from each bureau 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.
As soon as you receive your reports, you can begin the process of credit repair. You will start by going through these files line by line.
Along with the report, you will get a "dispute" form - or an address where you can get it. This is where your initial credit repair efforts will focus.
Make a note of every outdated, inaccurate, or incorrect entry - you will be disputing these. Fill out a dispute form and provide corrected information, or why it is inaccurate, such as debts that have already been paid but are still listed.
By federal law, the credit reporting bureaus have up to 30 days to verify each dispute. If they don't do so, or don't do it within the 30 days, they must remove those entries from your credit report.
With just this simple step, some of these negative entries will be removed from your credit report. They will no longer contribute to a low credit score, and your score will immediately go up - sometimes by hundreds of points!
posted by Debt Consolidation Loan at
5:55 PM
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