Do not be fooled into believing that you need the services of a credit repair company for credit repair. Do it yourself. Truth be told; everything a credit repair company promises to do for you, you can do even more yourself. In fact, you are better off doing it yourself because only then can you pay attention to minute details. Most credit repair companies have hundreds or even thousands of clients. So there is no way they can do it the way you would for the amount they charge. Let me show you how to repair your credit yourself. So roll up your sleeves and let's begin.
Order Your Credit Reports
Begin by ordering your credit report from the top three credit bureaus - Equifax, Experian and TransUnion. Do not expect the three reports to contain the same data. This is because creditors need not report to all three. No payment is required to get a copy of your credit report. Order your credit report for free once in a year through annualcreditreport.com
Search for Errors
The credit reporting system is not perfect, so expect to find errors. If you find no errors, then you have not done an exhaustive study of your credit report.
Look out for outdated and incomplete information, inaccurate account histories, outstanding balances on loans you have completed paying, and late payments and charge-offs that are not yours. If any such errors are spotted, immediately contact the credit reporting agencies and dispute the errors. Doing this will significantly boost your credit score.
When disputing an item, do not forget to document everything. Make sure to keep a record of all letters and forms you send to the credit reporting agencies. Take note of the dates you send out every document. It is the responsibility of the credit bureaus to investigate relevant disputes within 30 days. An item is removed by the credit reporting agency if it is not verified by the creditor.
Prioritize Your Bills; Pay Them Off
When you are down financially, making the wise decision as to what bill to pay off first is very important. Otherwise, you pay off less important bills while important bills like utilities will suffer.
Make a list of preference. Food and medical expenses and other family necessities should come first. This should be closely followed by paying off secured debts like mortgage payment. Then pay utilities, car loan and child support. Unsecured debts like credit card debts should have a low priority. Even though unpaid unsecured debts could still hurt your score, you have not pledged any collateral for them. Paying off secured debts first not only prevent a loss of property, it also helps boost your credit score while putting you in the right frame of mind to pay off unsecured debts later.
Rebuild Credit By Adding Positive Information
You want your on-time payment to reflect in your credit report. So when securing a loan, ask lenders if they report monthly payment history to a credit reporting agency. It is not all lenders that do this. So ask them to report your on-time payment since this can boost your credit score.
You should make it a point to pay on time, every time. This way, you build your credit score faster.
In summary, do not waste your hard-earned money getting the services of a credit repair company. Serious about credit repair? Do it yourself.
But what if I told you that you can fix your credit yourself in as little as 37 days? Read my 37 Days To Clean Credit ebook review to find out how.
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