Tips To Help You Repair Your Credit

Many people are unaware that there are credit repair tips you can use to help repair the damage that’s been done to your credit score.  This information is not widely advertised.  After all, an uninformed consumer is prey to all the threats and harassments of a debt collector.  Keep in mind that the consumer does have rights and the debt collectors have strict rules they must follow.

First you need to make sure that whatever negative things are on your credit report are accurate.  For this reason, it’s important to check your credit reports at least once a year.  There are three main credit bureaus, TransUnion, Experian and Equifax.  Be sure to check the credit report from each bureau.  Everyone is entitled to receive a free credit report annually from each of the three bureaus.

If you detect an error on your credit report, contact the credit bureau immediately in writing and request the error be corrected.  This simple tip can help you raise your score and get rid of inaccurate information that has been costing you money in higher interest rates.

Keep a detailed file on your contact with the credit bureau.  Keep a copy of the letter you send as well as the date the letter was sent.  Sending the letter to the credit bureau by certified mail is a good idea. It will be up to you to keep on top of everything in case the credit bureau does not respond in a timely manner.

When you are requesting that a mistake be changed or corrected you need not be timid.  You are not asking for a favor.  You are asking them to correct an error.  Always be polite and professional, but you need not be wimpy.

The process is not going to happen quickly.  By law, the credit bureau has up to 45 days to respond to you. (It may take much longer).  It is a process and you need to let the process work out no matter how long it takes or how aggravating it becomes.  Just be sure to stay on top of things.

This process is going to take time. If you want to work on your credit because you are contemplating the purchase of a new car or a new home and want to be approved, do not wait until the last minute.  Start right away on repairing your credit.

Make sure you make all your payments on time while you are waiting for the process to work.  This includes all your household bills such as utilities, not just your loan payments.  Utility and cable companies report to the credit bureaus too and late payments to these companies can affect your credit.

If you are willing to devote the time and consistency it will take you can rebuild your credit.  This may be the biggest credit repair secret of all. There is no magic wand to wave that will immediately repair your credit.  Remember, the sooner you get started repairing your credit the sooner you’ll qualify for a loan for that new car or new home.  Once you have it repaired, continue to handle your credit in a responsible manner and continue to monitor our credit reports.