Wednesday, January 6, 2010

How to Repair Bad Credit

GET YOUR CREDIT REPORT - You are allowed one free credit report each year. Contact one of the online agencies that can help you get the free report. It is totally free. You should not have to pay anything or join a service to obtain your free report. If you have already obtained one, you will have to wait another 12 months from the date that you requested it before you can get another free credit report. You also can get your free credit report from each of the three top credit reporting agencies, so essentially you can get three reports, one from Transunion, one from Equifax and one from Experian.

DISPUTE DISCREPANCIES - If there are errors or derogatory information on your credit report that you do not agree with, you can dispute it. Dispute each error separately and dispute it with each agency that is reporting the error such as Transunion, Equifax and Experian.

FOLLOW THROUGH - Many times after you dispute an error the credit reporting agencies will ask you to send back up or proof. Make sure that you provide them will all of the information that they are requesting. Keep original documents for yourself and send them copies of what they are requesting.

Knowing how to repair bad credit can turn your credit around and save money.

WAIT - It may take some time to get errors on your credit report cleared up. Also even truthful information that is derogatory will eventually time out and fall off of your credit. For some things such as bankruptcy, it may take ten years before it is removed, for other things, such as foreclosure, you can buy a home again after three years although it will still be on your credit.
All of your bad credit will eventually go away. Take action today to repair your bad credit and keep your credit good. Take care of it just as you would a small child. Your credit needs to be babied. Get started today to rebuild your credit.

If you want more information on how to repair bad credit please look here.

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