If you're struggling with bad credit, fixing your credit and improving your credit score will make your life easier. There is no single credit repair solution that meets every consumer's needs. However, you can evaluate your situation and take steps to help yourself get out from under the effects of bad credit.
Credit Report Evaluation
You can start repairing your credit by reviewing your credit reports. Go to annualcreditreport.com, the only site authorized by the Federal Trade Commission to provide this information, to request your yearly free copies of your credit report. Review your credit report carefully for any mistakes.
Report Correction
If you do spot an error, you can have it removed. There are three consumer credit reporting agencies: Experian, TransUnion and Equifax. Once you spot an error, you can contact the company, explain the error and ask for it to be removed from your report. You can do this through the mail or online. If you send evidence through the mail, be sure to send copies of your supporting documents, not originals.
Rebuilding Credit
Repairing errors on your credit report only gets you so far, and you can't remove correct information. If you have negative information on your report that's reducing your credit scores, the only way to raise the scores is to improve your credit behavior. Creditors want to ensure you can repay your loans, so you have to show them you're a responsible borrower by, for example, paying all your bills on time and not maxing out your credit cards.
Getting Help
Self-help credit repair is an option for some, but for those who are unable to maintain a dedicated financial plan and stick to it, seeking outside help is an option. Be careful, however, as many companies that offer debt repair services offer consumers little or no benefit, and are little more than scams to get you to pay more money. Investigate any debt repair or financial planner carefully before entering into any agreement.
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