You may have heard or seen an ad for credit repair, but have no idea what it is or if you need it.
And one thing you will never hear in a credit repair ad is that you are perfectly capable of doing any credit repair you need to have done.
If you are successful at your credit repair attempt, or get assistance from a service which completes your credit repair, you will be rewarded with a higher credit score.
How To Do Your Own Credit Repair The sort of credit repair you can do yourself includes fixing any errors in your personal information which you can find in your credit report.
You can request your credit report once a year at no charge, and go over it for any mistakes in personal details like your present and past names, your addresses, your marital status, social security number, gender, or birthday.
You should also review it for your employment details and your record of opening and closing your credit accounts.
You need to be sure that any items, like bankruptcies, which should automatically be erased from your credit history after a specified time, have been.
Then determine if any of your missed or late payments are accurately reported, and if you uncover any errors on the reports from any of the three major credit reporting agencies, you will have to send them a separate letter detailing each mistake, explaining your position, and providing the correct information with documentation.
The credit agency will review your claim and investigate within 30 days of receiving your letters, and although doing your own credit repair can be a time consuming process, it will be free.
If you neglect to fix your credit report, you may pay the consequences when a prospective lender of employer runs a credit check on you.
What You Can't Do With Credit Repair There is no credit repair which will erase the facts of a poor payment history or bankruptcy form your credit history, although the bankruptcy will be erased after 10 years.
While you can pay a company to do your credit repair, you should avoid any credit repair service which claims it will remove your record of missed or late payments, or bankruptcies.
They will stay on your record unless you know they are errors and dispute them.
What you can do in the way of credit repair is to clean up any errors in your personal data and inaccuracies in your payment history, but you can never wipe the slate clean and begin to build a brand new credit record.
There is one more meaning to the term credit repair:if you are over extended, you can engage in credit repair by paying off your debts one at a time, until they are all gone.
Each time you erase a debt without adding a new one, you will raise your credit score, because you are showing that you have both the means and the discipline to pay off your bills.
There is really no point, unless you simply don't have the time, to hire a credit repair company [http://www.
preventidentitythefthelp.
com/Identity_Theft_Statistics/] to correct the mistakes on your credit history, because you are still going to have to gather the documentation they need to send to the credit reporting agencies.
And one thing you will never hear in a credit repair ad is that you are perfectly capable of doing any credit repair you need to have done.
If you are successful at your credit repair attempt, or get assistance from a service which completes your credit repair, you will be rewarded with a higher credit score.
How To Do Your Own Credit Repair The sort of credit repair you can do yourself includes fixing any errors in your personal information which you can find in your credit report.
You can request your credit report once a year at no charge, and go over it for any mistakes in personal details like your present and past names, your addresses, your marital status, social security number, gender, or birthday.
You should also review it for your employment details and your record of opening and closing your credit accounts.
You need to be sure that any items, like bankruptcies, which should automatically be erased from your credit history after a specified time, have been.
Then determine if any of your missed or late payments are accurately reported, and if you uncover any errors on the reports from any of the three major credit reporting agencies, you will have to send them a separate letter detailing each mistake, explaining your position, and providing the correct information with documentation.
The credit agency will review your claim and investigate within 30 days of receiving your letters, and although doing your own credit repair can be a time consuming process, it will be free.
If you neglect to fix your credit report, you may pay the consequences when a prospective lender of employer runs a credit check on you.
What You Can't Do With Credit Repair There is no credit repair which will erase the facts of a poor payment history or bankruptcy form your credit history, although the bankruptcy will be erased after 10 years.
While you can pay a company to do your credit repair, you should avoid any credit repair service which claims it will remove your record of missed or late payments, or bankruptcies.
They will stay on your record unless you know they are errors and dispute them.
What you can do in the way of credit repair is to clean up any errors in your personal data and inaccuracies in your payment history, but you can never wipe the slate clean and begin to build a brand new credit record.
There is one more meaning to the term credit repair:if you are over extended, you can engage in credit repair by paying off your debts one at a time, until they are all gone.
Each time you erase a debt without adding a new one, you will raise your credit score, because you are showing that you have both the means and the discipline to pay off your bills.
There is really no point, unless you simply don't have the time, to hire a credit repair company [http://www.
preventidentitythefthelp.
com/Identity_Theft_Statistics/] to correct the mistakes on your credit history, because you are still going to have to gather the documentation they need to send to the credit reporting agencies.
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