Do It Yourself Credit Repair Guide
You do not have to hire a service in order to repair your bad credit. In fact, bad credit repair can easily be done by the consumer on their own terms as long as they have the right guidance. This credit repair guide was designed to do just that.
Order the Credit Reports – The first step in every credit repair guide is to order your credit reports. After all, you cannot repair your credit if you do not know what there is to repair. You will want to make sure that you order all three of your credit reports from the three credit reporting agencies. That should include TransUnion, Equifax and Experian. It is important to order all three because information on one report may not show up on another.
Read over Your Credit Reports – Another essential step in this credit repair guide is to actually read over your credit reports. See who you owe what to and for how much. Furthermore, look for debts that are old or past the statute of limitations on collections. You will also want to look for inaccuracies or misprints. If you notice simple things like your address is incorrect, you will want to fix that immediately. You will also want to look for information regarding late payments or other misprints in regards to accounts you currently have open.
Dispute Inaccuracies – If you notice any inaccuracies on your credit report, now is the time to fix them. In order to dispute them, you will need to have documented proof to favor your side of the argument. Credit reporting agencies will not simply take your word for it.
Resolve Any Debts – If you have any old debts on your account, then you need to resolve them as part of this credit repair guide. By leaving debts open you are simply keeping your negative payment history. Call your creditors and work out payments that you can actually afford. These creditors want your money to pay off the debt; therefore they are usually willing to work something out.
Just remember that an unpaid collection looks a lot worse than a paid one. You can usually negotiate a pay-off settlement or payments in order to remove these negative collections from your credit report. Demand that once it is paid they either remove it from your credit report or show it as “paid in full”. Before you send in a payment, get the payment agreement in writing as well.
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