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Fixing Your Own Credit - An Overview of What It Takes To Fix Your Own Credit

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By : Darin Sewell    99 or more times read

You can Fix Your Own Credit

fixing your own credit is an effective way of increasing a low credit score and getting back on track financially. many people realize this fact but many of them are scared off actually doing the self credit repair because they're unsure how to do it. If this sounds like you then keep reading because this article will give you a brief overview of whats involved with fixing your own credit and also provide links to some great places to get more information!

Where Do I Start

First thing you need to do is examine your credit report and come up with the reasons your current FICO score is low. These reasons need to be compiled into a list that begins with the oldest accounts and ends with the most recent.

Common Credit Problems To Look For

  • Late Payments

  • Accounts In Collections

  • Excessive Debt Load

  • Derogatory Public Records (judgments, back child support, etc)

  • Major Financial Crisis (bankruptcies,foreclosure, etc)

What Is the Next Step

The next step is that you are going to have to draft up a credit dispute letter for the first two accounts on your list and send it into the reporting bureaus. Once they receive this letter they will investigate your claims with the original creditor and give them 30 days to verify the information. If no lender verification can be provided they will remove the negative mark from your credit report.

What Is a Credit Dispute Letter

A credit dispute letter is a letter that you send to the bureaus calling into dispute something on the account. It includes your name, social security number, account number you are disputing and reasons why you are disputing the account.

Dispute Specifics Like

  • Late Payment Dates

  • Account Limits

  • Account balances

Do not just state the account is not yours, that's too easy to verify.

What Should I Do next

Once you get your letters back, you will need to make notes of what accounts were removed and what ones were not. And keep going through the process until you have disputed all negative accounts.

You should also add a good account to your credit report with a secured credit card. But make sure you keep in mind you must also pay your current bills on time and be financially responsible during this time or all your efforts will be wasted.
One Final Tip To Help Boost 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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