Repair Your Credit for Next to Nothing
A Credit Article Contributed by Brandie King
Don't Waste Your Money on Credit Repair Agencies
"Let us help you repair your credit."
You see the ads everywhere: on TV, in the newspaper, on the Internet, on roadside billboards. Most of these companies use unethical business practices. You sign up with them and they ask for money before actually providing any services. You pay, thinking they will actually be able to help you, then you never see them again. The credit repair company will simply disappear off of the map, right along with any money that you paid. You will never hear any of these companies tell you that you can repair your credit yourself for next to nothing.
Do-It-Yourself Credit Repair: Credit Denied
If you have applied for anything (house, job, credit card, etc.) and have been denied due to information contained on your credit report, you are entitled to a free copy. The only catch is that you must request it within 60 days of being denied. The company that denied you credit using the information on your credit report must provide you with the issuing bureau's name, address, and phone number. Send the issuing bureau a letter requesting a free copy of your credit report, along with a copy of the credit denial letter you received.
Do-It-Yourself Credit Repair: Disputing Inaccurate Items
The first step in this process is to contact each of the credit bureaus and request a copy of your credit report from each one. Once you receive the reports, sit down and take a long hard look at them. Circle each inaccurate entry. When you have finished going over each of the three reports you will need to write a letter to each of the three credit bureaus.
In the letter provide your name and address, outline each of the items that you believe is inaccurate, explain why you believe they are inaccurate, and state whether you want each item either deleted or corrected. Include a copy (NOT the original) of your credit report from the corresponding agency. Make sure to keep copies of everything that you send. In addition you should send the letters and credit reports using certified mail so that you will have proof the information was received.
Once your information has been received the credit bureaus must start an investigation within 30 days and also must forward your information to each of the providers whose entries you are disputing. Items that you have disputed that can't be verified must be deleted off of your credit report.
Once you have completed this process you will have taken a giant step in repairing your credit.
Repair Your Credit by Building Good Credit
After you have done everything you can to clean up your credit report you will want to start building up some good credit, which will repair your credit even further. There are a couple of ways that you can do this. You can contact your bank about getting a secured credit card. You can also try to get credit cards at department stores, gas companies, etc. Whether you choose one or both of these methods, make sure that you either keep the card paid in full or keep a low balance.
How to Contact the Credit Bureaus
Equifax, 1-800-685-1111, http://www.equifax.com
Experian, 1-888-EXPERIAN (397-3742), http://www.experian.com
Trans Union, 1-800-916-8800, http://www.transunion.com
If you follow all of the methods outlined in this article, you will be on the road to repairing your credit in no time.
