How to Repair My Own Credit

Posted Jul 26 2010 by Marc Chase
It’s a common question we get here: “Can I repair my own credit?”  The short answer to the question is “yes.”  If you need credit repair for your credit card debt problems, you’re going to need a bit of free time and a lot of patience.

Where Do I Start Repairing my Credit?
Your credit reports shape your credit scores.  All three of the major credit reporting agencies – Equifax, TransUnion and Experian – allow consumers to pull their reports every 12 months.  These reports are free, so there’s no excuse.

How Do I Read Credit Reports?
If you’re new to credit repair then the reports may be a little difficult to read.  They’re full of numbers, codes and abbreviations to ensure that they’re both consistent and kept as short as possible.  If necessary, find a credit repair services company that’ll give you a free consultation.  Not only will they explain your specific problems, but they’ll also give you an idea of what your plan of attack should be.

I Found Some Mistakes on my credit report, Now What?
You need to challenge anything on your reports that’s not 100% accurate.  Find a sample dispute letter, list exactly what’s being reported incorrectly and mail it to the credit bureaus.  This is a fairly slow process as it’s still being done through the mail.  Expect a turnaround of about 45 days and make sure that you’re keeping detailed notes of all correspondences.