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            To Repair Your Credit

Have you ever wondered how to repair your credit? It is possible and it is possible to repair your credit yourself. Here is the low down on how to repair your credit:

Step One: Get a current copy of your credit report from each of the three major credit reporting agencies. You can do this by contacting each agency directly or by going to freecreditreport.com. You are allowed to get one free copy of your credit report each year. You also have the option to sign up for paid credit monitoring subscriptions (both through freecreditreport.com and the individual agencies). Depending on your credit history and the state of your credit report, this option might be worth looking into (it usually isn't too expensive).

Step Two: Go over your credit report and report any mistakes or discrepancies to the agency that reported it. The credit agencies are allowed thirty days to investigate and validate any mistakes that get reported to them and to send you a copy of the "corrected report." When you get your corrected report, make sure all of the mistakes have been corrected.

Step Three: Keep reporting step two until all of the mistakes have been corrected. Sometimes it takes a few tries to get the report exactly right.or as right as the credit reporting agency will let it get.

Step Four: Look at all of your outstanding debts. Make sure that the account information matches what you have in your records. If it doesn't or if you aren't sure (because not everybody keeps records), write a letter to each company and ask them to validate your debt. Ask them to send you proof that you owe what they say you owe. There are sample letters on the internet that you can use for this. When you mail these letters make sure to mail them by certified mail and get a confirmed delivery receipt with a signature. Once you have confirmation that your letter has been delivered, the company has thirty days to respond with proof that your debt is valid. If they fail to do this, send a copy of your original validation request and a copy of the delivery confirmation signature to each of the three credit reporting agencies. The agencies are required, by law, to delete the account from your credit report.

Step Five: Look at how much money you owe and who you owe the money to. Contact each company you owe money to. Pay off what you can and work out payment plans for what is left. Close superfluous accounts (one or two credit cards are all you need anyway).

Step Six: Stick to these payment plans. You would be surprised at how easy it is to repair your credit score just by making all of your payments on time.

It is not very hard to repair your credit. It takes some time and it definitely requires diligence on your part, but it is possible to repair your credit.

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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