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How to Repair your own Credit

How to Repair your Own Credit

You Can Repair Your Own Credit

Anyone can clean up their own credit! Many people have taken the initiative and have cleared up a few blemishes on their credit reports. It is true that everything a credit repair clinic can do for you, you can do for yourself at little or even no cost. This is good news to many because those in serious debt can afford the fees the least.

You can fix "errors" on your credit report and clean up any "questionable" items. You cannot legally remove accurate negative information from a credit report, however. The law, though, will allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. This is a free service to all consumers. Also, when the credit bureaus cannot verify information on your credit report they are obligated by law to remove it. For example, when a credit bureau cannot verify with a collection agency what is reported as a collection on your report, the credit bureau must delete the entry.

For a "how to" quick lesson in basic credit repair strategy consider the following:

The basic strategy to repairing your credit is as follows:

• Get and review your own credit report.
• Read it through carefully.
• List all of the items that you consider to be questionable or negative. Clearly identify each item in your report that you dispute and write out why you dispute the information.
• Write a well-documented dispute letter to the credit bureaus.
• Send your letter to the credit bureaus via registered or certified mail.
• Keep good notes on each detail of your dispute for your own records. Keep copies of each of your letters. Record the exact dates of when you sent the letters and the results.
• Wait on the bureaus response to your investigation of the claims.
• Carefully consider each of the results.

If you are still not happy with the results, you can continue with steps 1, 2 and 3 as above until you feel that the dispute is settled satisfactorily. Remember that there is still no charge for any reinvestigations. When you don't get the results you want, you can dispute the listing again.

Resolve to have good patience with the Credit Bureaus to avoid frustration. They may not be too quick on the draw you could find. At times it could seem that the Credit Bureaus are not even cooperating with you, so persist. They are obligated by law to work with you on your own credit report. Keep in mind, too, that they make their money by providing credit reports to lenders, not by working with consumers to fix bad information in their databases.