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Easy Quick Steps for Credit Repair

Nowadays, where credit transactions are every day, bad credit can make your life miserable. Without good credit, you can’t get a good apartment, you can’t qualify for a low interest mortgage, you can’t get an apartment, and you may not get a good job. This article will try to help you keep up whatever credit score you have and even make it better.

“Quick” is a word that is relative to your perspective. For some people, thirty days is quick, but for others, it might mean just a few days. In this case, quick credit repair is normally a few months to a year.

If you credit score is low, you may have suffered from health problems, loss of a job, theft, or other problems that lost you money and/or affected your credit. If you want to change your credit situation, you need to analyze your finances, examine if you have tried to resolve your problems, and ask yourself if you have the determination you need to correct your problems.

If you have the determination you need to correct your problems, there is still hope. Here are some ways to repair your credit and remove negative items on your credit report, to get you better credit:

1. First and most important: pay your bills on time or early from now on. 35% of your credit score is measured by whether you pay your bills late, on time, or even before they’re due. Late payments can lose up to 100 points on your credit scores. Late or early payments can either help or hinder your efforts to repair your credit scores. Bottom line: You need to pay all your bills on time or early.

2. Find out what is in your credit report. You can get free reports at AnnualCreditReport.com, but some allege that these free reports are tied to a technicality that increases time for reinvestigation when there is a dispute.

3. You hope to increase your credit scores, which will accelerate your credit repair process. You can increase your credit scores by making payments early, and cutting down your existing balances and debts.

4. Check your credit reports for inaccurate information. Mistakes can lower your credit scores. When you find inaccuracies, report them to the bureaus in writing ASAP. If the mistake was made by the credit reporting agency, it is his duty to correct such mistakes. If the error was by the creditor itself, then your dispute should trigger an investigation, and should eliminate the problem. Sometimes, you have to dispute an error multiple times, before it gets corrected.

5. You should also dispute entries made by credit bureaus multiple times if necessary, because they often fail to counter your dispute, because old debts aren’t worth verifying. If you try this type of dispute, don’t just replicate dispute letters you find in the internet. It’s much better for you to write your own letter. This show your claim is legitimate, not just parroted.

6. Finally, don;t dispute your open accounts, because these help build your good credit history. Just pay them on time and leave them alone.

Credit Repair On Your Own

You can manage to do your own credit repair. All that Do It Yourself Credit Repair requires is the proper knowledge of how to repair credit. Getting that information to know how to do it is the key. There is lots of information on the internet on how to do it, and of course books in the library. The more you learn about credit repair and financial management, the easier it will be for you to repair your credit and stabilize your credit life.

First, you need to get all your credit reports and study them. You can get a Free Credit Report from all 3 agencies from www.AnnualCreditReport.com or you can pay to get a 3-in-1 Report with all 3 agencies’ report side by side for easier comparison. After studying the credit reports, write to the 3 Credit Bureaus to correct whatever entries that you think are questionable or incorrect, and give evidence wherever possible.

Right at the start, you can correct and clarify entries on your reports, such as dates, credit limits, and the actual amount owed. When you find any inconsistencies, write a letter to the credit bureaus to show that the entries in your report are wrong. The bureau will usually inform the creditor and ask the creditor to either correct the information or confirm its correctness.

When you analyze your credit report, especially look at the last 12 months. Most of your credit score is calculated from the last 12 months in your credit history. The better you have been at making on-time payments, the better your credit score. Try not to default on any account – always make your payment on time or early. If you miss a payment, make a doable payment plan, but even one missed payment will lower your credit score some. If you have any accounts that were given to a collection agency, you can either dispute the debt, or try to work to pay it off. You might want to get touch with the original creditor instead of just dealing with the collection company to make sure that your payment records are straight.

After you get the credit reports and have worked to correct any errors, you can then proceed to other ways to repair your credit. Your credit score is key to getting a new loan, getting a good interest rate on a mortgage, finding an apartment, getting a good job, and many other aspects of your life. Even some simple purchases can be affected by your credit status.

Your credit rating affects your life in many ways. Your credit score can determine whether you can get a low interest rates and a longer term to pay it off. Even basic utilities, landlords, and employers now look at your credit rating.

To repair your credit score, make sure that you pay your bills on time or even early. Loans and credit card payments are the most important. Creditors examine closely how well you pay off other creditors, so make sure that you don’t miss even one payment, and pay early if possible. Even one missed payment can lower your credit rating.

If you are diligent, you can repair your own credit, even without a credit counselor.