subject: Five Steps - How To Repair Your Credit [print this page] How to repair your credit has always been a very controversial issue. Although there are many who promote self-help as the best solution, the many credit companies who have served consumers well indicate that choosing outside help is a good option. Forget about everything you hear in the way of rumor. Let's look at the facts. Self-help is certainly a viable option. It's also true that you can do it successfully even if you are not very experienced in this matter.
But it cannot be done without effort and a great deal of investment in time. Although it can be done, there are those who would prefer to hire a professional because they feel more comfortable turning the matter over to someone who is experienced.
If you would prefer to learn how to repair your credit, read these five steps. When you have considered how to go about it, it will be easier for you to decide whether you would like to do it on your own or use the services of a credit repair agency.
OK let's get started.
Step 1
Get hold of your credit report. This is a necessity and will put you on the road to learning how to repair your credit, as most of the time the problem is due to errors on your credit report. Call 877-322-8228 or visit www.annualcreditreport.com
Step 2
Find the errors in your report and get to work on getting them deleted. Here's what you're looking for - maxed out credit cards, incorrect information, due accounts that are closed, and the like.
Step 3
Draw up dispute letters - one for each credit bureau. Although you may have many errors on your credit report (by no means an uncommon occurrence) be careful about disputing too many at the same time, or the bureaus may label your disputes "frivolous" and just ignore them. You might wish to attach copies of whatever documentation you have. Having more thorough documentation, it will get removed more quickly.
Step 4
Add positive information to your credit report that will improve both your score and your credit history. Have the on-time liquidation of loans and credit cards payments recorded. It's a good idea to procure a secured credit card as this could improve your balance to credit limit ratio.
It's a good idea if you can pay off some of your debts, including credit cards. These should be the first to pay off, because of the high rates.
Step 5
Another option is to forget about the steps 1 through 4 and turn it over to a trustworthy credit repair service that knows all there is to know about how to repair your credit. This means that you need not learn anything about this matter; the only thing you have to know about credit repair, is how you will locate a trustworthy credit repair service.
A few tips are in order; avoid closing paid off credit card accounts; you will need the credit limit that they give you to counter the debt, giving you a better "balance to credit limit ratio."
If you do seek professional help, beware of fraudulent companies; get in touch with the agency and request recommendations. You would be well advised to check with the Ethical Credit Repair Alliance, the "watchdog of credit repair companies."
by: Jim Eastman
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