Regardless of your record or history, there are a number of quick & easy steps you can take towards credit repair. It's never too late, and costs nothing, yet the results can be huge!
You can begin by ordering a copy of your credit reports, going through them, and understanding them. There are three different credit reporting bureaus, and each one may have slightly different information.
The law entitles consumers to a free copy of the credit report, one from each of the three agencies: TransUnion, Equifax, and Experian. You are able to get one from each bureau every year.
The FTC, or Federal Trade Commission has a website set up specifically for this: annualcreditreport.com. This is the "official" site for these free reports - be wary of any other offers for "free" credit reports, as they won't actually be free.
As soon as you receive your reports, you can begin the process of credit repair. You will start by going through these files line by line.
These reports will either include a "dispute" form, or give you a web address to get them. This is the key where you will begin to fix your credit.
For every entry that is incorrect, inaccurate, or outdated, you will be filing a dispute. Provide the correct information, or why it is incorrect, such as a debt that has been paid but not removed.
By federal law, the credit reporting bureaus have up to 30 days to verify each dispute. If they don't do so, or don't do it within the 30 days, they must remove those entries from your credit report.
With just this simple step, some of these negative entries will be removed from your credit report. They will no longer contribute to a low credit score, and your score will immediately go up - sometimes by hundreds of points!
You can begin by ordering a copy of your credit reports, going through them, and understanding them. There are three different credit reporting bureaus, and each one may have slightly different information.
The law entitles consumers to a free copy of the credit report, one from each of the three agencies: TransUnion, Equifax, and Experian. You are able to get one from each bureau every year.
The FTC, or Federal Trade Commission has a website set up specifically for this: annualcreditreport.com. This is the "official" site for these free reports - be wary of any other offers for "free" credit reports, as they won't actually be free.
As soon as you receive your reports, you can begin the process of credit repair. You will start by going through these files line by line.
These reports will either include a "dispute" form, or give you a web address to get them. This is the key where you will begin to fix your credit.
For every entry that is incorrect, inaccurate, or outdated, you will be filing a dispute. Provide the correct information, or why it is incorrect, such as a debt that has been paid but not removed.
By federal law, the credit reporting bureaus have up to 30 days to verify each dispute. If they don't do so, or don't do it within the 30 days, they must remove those entries from your credit report.
With just this simple step, some of these negative entries will be removed from your credit report. They will no longer contribute to a low credit score, and your score will immediately go up - sometimes by hundreds of points!
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