Credit Repair Information - How To Repair Your Own Credit

If you have negative marks on your credit report you are not alone

. A lot of people these days have negative entries on their report. Sometimes the damaging information is due to error. Regardless of how derogatory information appeared in your report, you can change and correct your credit report for the better. All you need is the correct credit repair information on how to repair your credit.

Your credit rating can have a huge impact on your life. It will determine how lenders see you, and whether you'll be granted credit or not. Fortunately your credit rating is not permanent. If you repair your credit it will make it easy for you to get low interest car loans, home loans or credit cards. However, if you have bad credit rating you may find it difficult to obtain a loan or be ubjected to high interest rates and other unnecessary conditions. That's why it's crucial that you get rid of your bad record if you have negative entries on your report. There are simple steps you can take to clean up your credit.

First, you need to find out what's in your report. Find out what your credit report says about you. You can get a copy of your report for a small fee. However, if you have been denied credit within the past 60 days, you are entitled to a free copy from the credit bureau that supplied the negative information. Also, you are entitled to one free report per year from each of the three major credit bureaus.

When you get your report, go through it carefully. Evaluate everything that is written on your report. Look for any mistakes or discrepancies on your report. You have the right to dispute any inaccurate or incomplete information that is contained in your report. So review your report carefully.

If there is something you do not agree with let the credit bureau know about it. They must investigate it and get back to you. Submit your dispute in writing, and try to provide them any documents needed to support your argument. Be sure to keep copies of all documents submitted. You should keep record of every interaction between you and the credit bureau. Send your letters via certified mail, return receipt requested. That way, you have proof that you sent it.

If the investigation reveals an error, then the credit bureau must correct it. If the investigation does not resolve your dispute, you can file a one hundred word consumer statement to refute the claim. The credit bureau must include it in your file.

Once you have cleaned up your report, it's time to start adding positive information to your file. You can rebuild your credit by using a secured credit card. In order to obtain a secured credit card, you'll be required to deposit money into a savings account to serve as collateral.

Another effective way to add positive information to your file is to take out a small secured loan from a bank and pay it back promptly. Prompt payments on loans create a positive record.

Once you have repaired your credit, it's important that you maintain a good rating. Try to avoid late payments, missing payments, maxing out credit limits and all the things that create bad record.

There are many credit repair resources on the net. You can get a good guide that will walk you through the process - an easy to read guide that gives you all the information, tips, secrets and details regarding fixing bad credit, getting rid of negative entries and adding positive information on your report.

by: Conleth Onu

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