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Credit Repair Kits

Credit Repair Kits

You Can Repair Your Bad Credit

Sometimes when debt runs a muck with our lives and we want to repair our debt, a do-it-yourself kit can work. For many debtors, talking about their debt problems can be a real red flag and so they sit in their debt and just ignore it rather than have to go out in public and discuss it to get the help they need. For this type of consumer, the credit repair debts are ideal.

The credit repair kits are set up to help those who are self-motivated, best. Without the initiative needed to fill out all of the forms and do all the important leg work, the debtor will remain where he is -- in debt and without much hope.

Credit repair kits can direct you from your ongoing debt problems by pointing the way to the following steps:

1) Request your credit report from EACH of the three credit bureaus: Experian, Equifax, and Transunion. Purchase your reports on-line directly through the credit bureau's web site rather than going through a reseller (who makes a profit). The websites are: www.experian.com www.equifax.com www.transunion.com.

2) Once you have your report, check for accuracy/errors. Make sure that all of the accounts listed are YOURS. Make sure that all closed/paid accounts have been reported.

3) Dispute erroneous information through EACH of the 3 bureaus. They do NOT share information. You must dispute erroneous information with EACH one separately. Disputed information that is not verified MUST be removed, by law, within 30 days.

4) Finally, the way to rebuild and repair credit is to obtain credit! There are bad credit lenders who will grant small loans, secured credit cards, and unsecured credit cards with low credit limits. Your proper use of your new credit privilege provided by these lenders is reported to the credit bureaus and your credit scores will improve as a result! You will find a good list of bad credit lenders here: http://www.creditchampion.com.

5) Do NOT be taken in by credit repair scams! The only way to repair your credit is by following the steps given above. Your credit repair kit will direct you in the very same way. Best of all, this is free, (excluding the cost of your credit report purchased from each of the three bureaus.)

6) Now that you are rebuilding your good credit rating, reduce your balances on existing credit cards to 75% or less of your available credit, even to 30% which is preferable. This is the one point to consider above all! A high debt to credit ratio will leave a negative impact on your credit rating.