Credit Repair With Excellent Results


The majority of people probably experience credit problems at some time. Credit issues are becoming even more prevalent lately with the current economic crunch.

However, there are steps you can take to repair your credit and you do have the right to repair your credit.

Back in the 1970?s a Federal law was enacted that allowed consumers to take steps to repair their credit. It is estimated that as many as 79% of all credit reports contain errors and inaccurate or erroneous listings.

You can defend yourself against and take steps to get the bad credit removed.

Credit Repair With Excellent ResultsIt may not be as confusing and mysterious as it would seem to repair your credit but it can take some time. However, it is worth the effort because of the benefits you will gain from having an increased credit score and a better credit report.

You can hire a professional to help you repair your credit and that may be a good idea but you can also do the work on your own. Either way it is important to do it so that you can improve your financial future.

The first step you must take is to get a current credit report. You have the right to get one free report from each of the three major credit reporting agencies, which in the United States are TransUnion, Experian and Equifax.

There is no further obligation in getting the free report and if you contact one of the ads about the free credit reports you will find that they are offering a credit monitoring service, which is not necessary unless you feel that it would be beneficial.

When you have the reports, you will need to spend some quality time studying the information. Make sure to look for duplicate accounts, accounts that belong to someone else and accounts that are old and past the statute of limitations. There are limitations as to how long a creditor can report a bad debt and also how long they can attempt to collect the debt. Typically it does not exceed 7 years.

Once you have found the inaccurate and erroneous credit then you will need to write some letters of dispute. Be specific and succinct but explain why the listings need to be removed. Keep a copy of all of your correspondence. You must also realize that it may very well take a few letters to get results so be persistent. However, after receiving your dispute the creditors have a specific amount of time in which they must either verify the accuracy of the reporting or delete it from your report.

You should also pay down any outstanding debt that you have. Much of your credit score is determined by your debt to available credit ratio and if you can keep it below 20% you will be able to have the higher scores.

It may also be wise to apply for some new credit accounts. Be responsible and make all of your payments on time. With some effort and time you will have your credit repaired and your financial picture will look much better.


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