"I must fix my credit quickly"! If you have ever been told "NO" when you applied for a much needed loan then you probably have said these same words to yourself. Even though you want to do credit repair and fix your credit report you probably have no idea how to get it done!
How You Can Easily Do Credit Repair Yourself
What you need to do first when trying to fix your own credit is to get a copy of your credit report and figure out the reasons why your FICO scores are so low. To do this you need to look for negative and false information that is listed on your report.
What Should I Look For On My Report
When you are looking at your credit report start out by scanning for mistakes that are listed, basically information that is wrong! This is not just accounts that are not yours but look at payment history, account limits and balances and also your previous employers and home addresses.
Negative accounts are accounts and activity that is going to be damaging your credit score. This often includes 30,60 and 90 day late payments. It also frequently includes accounts in collection, bankruptcies, judgments and also accounts that have been charged off.
What You Need To Do After You Discover This Information
Start out by making a list of the accounts that you find that are false or negative in natures, list the oldest accounts first and end with the newest accounts. The next step is to write a letter of dispute and send it into each reporting credit bureau.
Keep in mind that not all three bureaus will report the same thing so do not send the dispute letter to a non reporting bureaus. The bureaus who are reporting for each account will be listed on your credit report.
Why Will a Credit Dispute Letter Help Me Fix My Credit
Once the credit reporting bureaus take delivery of your credit dispute letter they will ask the original creditor to provide proof of the activity they are reporting. Under Federal Law they are required to do this and issuing creditor has 30 days to respond. If either party fails to investigate your claims then the items must be removed. Get enough of these knocked off your credit report and your credit scores will rise dramatically!
One Last Tip To Help Increase Your Credit
If you are unsure on how to go about doing Self Credit Repair then pick up a good book or guide on the subject. Many are available online for a small fee and will help you get yourself squared away much faster.
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