September 4, 2012

Repair your Credit Score: Step by Step Guide

Basic Credit Repair Strategy

The basic strategy to repairing your credit is as follows:
  1. Get and review your credit report.
  2. Analyze your report.
  3. Make a list of all items you consider to be questionable or negative. Clearly identify each item in your report you are disputing and explain why you are disputing this information.
  4. Write a dispute letter to the credit bureaus.  Mail the letter to the credit bureaus. Make sure you send it registered or certified mail.  Document your efforts. Record when you sent your letters, and the results.
  5. Wait for the bureaus to investigate your claims.
  6. Analyze the results.
  7. Should I dispute personal information?  YES.  Follow steps on documents.
  8. What if a removed a negative item and comes back on my credit report?  Call the agency immediately.

Feeling overwhelmed by this process and think you don't have the time? You do!  That's all there is to it. Seems easy enough but you must have patience, because the credit bureaus are not always very cooperative. They make their money by providing credit reports to lenders not by fixing bad information in their databases.

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