When your credit is damaged you begin to look for advice from people on how to repair it. The Internet is full of companies that say they can help you repair your damaged credit, but the truth is that you can do much of the credit repair yourself. If speaking to someone about credit repair makes you feel better, then there are organizations you can speak to and questions you can ask to get help.
Contacting the Credit Agencies
A credit repair service will take all your credit information, and then contact the credit reporting agencies to try and get various negative elements of your credit report removed. You can take these actions on your own and save the fees associated with a credit repair service. Contact each of the three major credit reporting agencies--Experian, Equifax and TransUnion--and request a copy of your credit report. If you have been denied credit in the past 30 days then they will supply you with a credit report for free, if you have not been denied credit then you will need to purchase a report. When you get the report look it over for accuracy. If you see any information that you do not recognize, or that looks incorrect, follow the dispute instructions on the credit report to send a dispute letter to the credit reporting agencies. If the agencies are able to confirm that there is an error, then they will fix it. There is a sample dispute letter on the Federal Trade Commission website listed below.
Monitor Your Reports
Once you have initiated the cleanup of your credit reports, you will want to continue monitoring your credit report to make sure the changes were made and that nothing new has come up. You can get a subscription through the credit reporting agencies that will allow you to get a new report when you need it, or you can just purchase a new report every three months. If you see something that looks out of place, send in a dispute letter.
Getting Help
If you would like to consult with someone about credit repair try to find a reputable local attorney that deals with credit repair and consult with them. Remember that credit repair is a long process that involves re-establishing your credit, and keeping erroneous information off your credit report. You are looking for advice on how to repair your credit, and not a loan to help consolidate credit. Avoid credit repair companies that try to get you involved in a program that requires a loan, or any kind of installment payment on your part.
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