Credit Repairs

Credit Repairs

The Covert Credit Repair Report

Credit Repair begins with finding out exactly where you stand in the eyes of your creditors. What are the credit bureaus reporting about your financial stability? Are their reports accurate or do you need to investigate some suspicious activities on your report and take steps to repair your credit?

There are three primary credit reporting agencies Experian, TransUnion and Equifax. All of them are infamous for making serious mistakes when reporting consumer’s credit histories. Bad credit repair services, programs or even attorneys are often times needed to help you resolve false negative remarks in your credit report.

Hiring a credit repair company is not always necessary however, you can find many free credit repair resources and articles to help you repair your bad credit. There is also credit repair software, programs and kits that are available to do it yourself credit repair consumers.

So it is absolutely vital that you thoroughly check each and every report for errors and take steps to correct them as soon as possible.

Start your credit repair investigation by getting a copy of your 3 credit report or a copy of your credit report from each of the three agencies. To order your free credit report, you can call the official toll-free number, (877) 322-8228. Or, you can go online to annualcreditreport.com where you can order your reports directly. You are allowed one free copy of your credit report per year from each agency unless you’ve been denied credit or employment due to negative report.

If you find an error on one of your credit reports, you must take steps to correct it as soon as possible. Otherwise, the negative report may damage your credit score and cost you dearly the next time you apply for credit. repair you must take swift action to correct it don’t worry you are protected by law under the Fair Credit Reporting Act

Correcting credit report errors takes time because there is a certain process you must go through to inform the company and reporting agency of the mistake. Under the Fair Credit Reporting Act, both the organization that provides the information and the consumer reporting agency must correct inaccurate information on your report. To take full advantage of your rights under this law, check out the ftc.gov website.

The first step to credit report repair is to contact the consumer reporting company, in writing, what information you think is inaccurate. Include copies of documents that prove your position. Include a copy of your credit report with the items in question circled, and be sure to include your complete name and address. Your letter must clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected.

Here is a sample credit report dispute letter to use as a guide: www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.htm For best credit repair results, make sure to send your letter by certified mail, “return receipt requested,” so you can document what the consumer reporting company received. Keep copies of your dispute letter and all enclosures.

After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review and report the results back to the consumer reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.

When the credit repair investigation is complete, the consumer reporting company must give you the results in writing and a free copy of your credit report if the dispute results in a change.

Now be sure to take a look at all three reports again and make sure they all have correctly repaired your credit report. Double check your credit score and see if it has risen since the corrections have been made. If not, you can use one of these Covert Credit Score Squeezing Tips to help raise your credit score.

Lenders are looking for responsible, creditworthy consumers with a fico credit score of at least 700 to qualify for the best rates. If your credit score is below that, here are some easy steps you can take to increase your credit score.

The best way to raise your credit score is to pay your bills on time, the longer your credit report shows that you can pay your bills in a timely manner, the higher your score. Your credit report reveals every single payment that is 30 days or more past due, so if you are in the habit of paying late, it is having a negative impact on your credit score.

Keep your credit cards and other revolving credit balances low. The secret around the financial world is to keep your credit card balances at or below 50 % of your maximum credit line. Having outstanding debt balances too high negatively impacts your credit score.

One of the most effective ways to raise your credit score fast is to pay down your debt. Don’t try to move it around and divide your debt between two or more cards to make it look smaller, this could damage your credit score even further, just do what you can to pay it off, at least to 30% of your maximum credit line per card.

For more covert credit score strategies, check out the links to the right.