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Repair Your Credit History

Your credit history is what you will be judged by for your entire adult life. It is your credit history that will determine whether or not you get a loan for a new home, whether or not you will get financing for a new car, and whether or not you can rent an apartment. Your credit history will also determine whether or not you will be approved for future lines of credit, whether they are from a credit card or a doctor's office. Your credit history determines whether or not you will have to pay a deposit when you get a new cell phone and it is even what will determine whether or not the utility companies will let you install services. Sometimes your credit history will be the deciding factor in whether or not you are hired for a job. You've been told this since the day you signed up for your first credit card and in spite of this; you now need to know how to repair your credit history.

Perhaps you have discovered errors on your credit report or you've gotten a bill for a credit card you don't remember signing up for. Or, maybe, you had a financially irresponsible youth. Debt accumulates for many reasons and there is no reason to be ashamed of it-or the fact that you need to repair your credit history. Most people do. Credit reporting agencies are not accurate, and most people have found mistakes in their credit reports.

The first step if you want to repair your credit history is to get a copy of your current credit report and notify the credit reporting agencies of any mistakes you find. You will want to check your credit report every three months until you completely repair your credit history and even then, you will still want to check it at least once or twice a year.

Next you will want to validate your debt. Ask all of the companies claiming that you owe them money to send you proof of your debt with them. This request must be done in writing and the companies have thirty days to reply. If the companies fail to reply or to supply you with sufficient proof of your debt, they are required by law to delete you from their system and the credit reporting agencies are required to delete the account from your history.

Once you know, for sure, how much you owe; you must begin to pay it off. Pay off the smaller bills and make payments on the rest. Make sure to make all of your monthly payments on time or even early. Most companies are more than happy to work with you when they know that you are serious about paying off your debt.

In fact, the best way to repair your credit history is to slowly replace the dubiousness with steadfastness and responsibility. You can do this by not missing a single payment from now on.

Credit in Minutes Tip #1

Stay on top of your credit report. Most credit reports contain errors. Make sure you check your credit report every year (you get one free credit report every twelve months) and if there are errors make sure to challenge them with the reporting credit agency. Credit agencies are required to investigate each and every challenge that gets reported.

Credit in Minutes Tip #2

Just because you qualify for all of those credit cards does not mean you should get them. A person with too many credit cards looks sketchy in the eyes of a potential creditor. Think of it this way: if a person is financially stable does he or she need ten different credit cards? Wouldn’t just one or two suffice?

Credit in Minutes Tip #3

The best way to raise your credit score is to make all of your payments on time. It sounds too simple to be true, but that’s all there really is to it. Staying out of debt and/or making all of your debt payments on time will keep your score up where it should be.

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