Mandy Jacobson asked: A lot of people usually simply ask, “How can I repair my credit?” You must be one of them. Well, there are a lot of ways to do so, such as hiring a credit repair agency to do the fixing for you, or repairing your own credit by yourself.
Perhaps the right question to ask is, “How can I repair my credit by myself?” You may find yourself in a situation where you need to desperately repair your credit. Even in extreme circumstances, or even in cases where your problems seem to be quite big, don’t be easily pushed into hiring a credit repair agency. Aside from the fact that it’s hard to find a credit repair agency that you can completely trust, hiring one will probably cost you a considerable amount of money. Besides, why do you have to shell out a lot when you can repair your credit by yourself.
How exactly can you repair your credit? Here are the simple steps in repairing your credit by yourself. The first step in repairing your credit is to get your credit reports and review them. It is better to obtain credit reports from more than one credit bureau, and get reports from the bureaus that are well-known and reputable in your country. The difference is that these credit bureaus are most likely the ones from which companies will get your records.
When you are reviewing your records, list all the items that you think will not look well on your records. Aside from simply listing down these items, as you run through them, come up with reasons why you are disputing them. When you dispute these items with the credit bureau, you will need to give a reason why you are doing so. It is also important to rank each item according to their effects on your credit rating. The first item should be the most detrimental to your record. Mostly, bankruptcies, foreclosures, and repossessions, if you have these on your records, should be on top of your “questionable” list.
Once you have identified which items you want to dispute, and why, you can write a dispute letter to the credit bureaus. It is better if you send the letters through registered mail. Before sending, make sure you have your own copy of the letter on file. Collect copies of all documents regarding as you repair your credit, including dates when you performed specific actions. This may come in handy in the future. After sending the dispute letter, wait for feedback. There is no telling how long it will take, but you can be sure that a response will come. Credit bureaus are obligated under the law to conduct an investigation following a request or a dispute.
Once you receive the results, analyze them properly. Go back to your records and check whether you’re all disputes received responses. If not, you can send another dispute and ask for another investigation. You can do so until you are satisfied with your credit rating. Just remember to clearly state that you are going for deletion, not just minor adjustments, of the questionable items.
So, in answer to your question, “How can I repair my credit?”, you can do so by paying someone else to do it, or doing it by yourself. And if your next question is “How can I repair my credit by myself?” well, you just found out how.
Gail
