How About Do It Yourself Credit Repair?

Is it possible for someone to patch up their credit on their own without using a debt consolidation service? Yes, it sure is! If you think your credit score should be higher than it is, there are several simple things you can do yourself that can bring it up.

First of all, order a copy of your free credit report. The law states that you can get a free copy of your credit report from each of the three major credit reporting agencies, which are Experian, Equifax, and TransUnion. Each one of these reporting agencies can have slightly different information on you, so be sure that you have in hand a copy from all three before proceeding.

Once you have received your credit report, look it over carefully to see if you can locate any errors. Most people can find at least one, and some people will find several. You might find incorrect information or credit cards that you cancelled that are still open. You may even see evidence that someone else has been using your identity to rack up charges. Make a careful note of each wrong item that you can see on your credit report, for you are going to be contacting all three of the credit reporting agencies in writing to tell them that you are disputing information, and want your report reviewed.

The law states that the credit reporting agencies have 30 days to check out your report to see if the claims that you are making are true, and to respond with an answer. They will have to get in touch with the creditor or the lender where you had the account, and ask them to provide information that will prove that you owe them money.

If the creditor or lender cannot prove that you owe them, the credit reporting agency has to remove those items from your credit report. This will cause your credit score to increase. If the answer is that you do owe the money, and you believe you have been the victim of identity theft, you can contact the credit reporting agencies to have your file tagged as an identity theft victim, and  report this information to the creditors in question as well. The agencies and creditors  may ask you to provide them with a police report, which can be used to place a fraud alert on your file and prevent any company from trying to collect those debts.

Recent additions:

• What’s A FICO Credit Score?
• Credit Repair After Foreclosure
• Credit Card Debt Consolidation
• Consumer Credit Counseling
• A Beginner’s Guide to Credit Scores
• Contacting The Credit Bureaus