Repair Your Credit Score In Three Easy Steps!

Repair Your Credit Score In Three Easy Steps!

Debt and a bad credit score can really stand in the way of many things you may want to do and purchase, but cannot because you have a bad credit score. Whether you want to buy a house or get a credit card, having clear credit is a major deciding factor which financial institutions take into consideration before giving you credit. Your credit score allows them to see how responsible you are when paying your debits, and whether you are making any effort to pay outstanding debts.

Many times we get in debt when we are younger, and are not as responsible with money. In fact most people that get into debt get into debt before the age of 25 years. Whether that be student debt or debt incurred because we have our first job and so spend recklessly. The truth of the matter is that some simple mistakes made when we are young can result in years of financial difficulty. This need not be the case however as what most people do not know is that a bad credit score can be repaired and it does not need to loom over your head like black cloud.

Being black listed is just a tactic used to scare you into paying your outstanding debt, but once you have paid there are steps which can be taken to repair your credit score and even improve your credit ratings. And just in case you are wondering...yes it is perfectly legal!

There are companies which can help you repair your credit, and these companies are completely legal, but what is even better is that you can repair your credit score yourself! Whether you repair your credit score yourself or hand it over to a professional there are a few simple steps which can be followed in order to start clearing your credit score.

The first step in repairing your credit score is to order your credit reports from the different credit bureaus. The credit bureaus may each have different information on you so be sure to get all your credit reports. Armed with all your credit information and scores you can get started on increasing your scores.

Step two: You have asked for your credit records so that you can go over them and look for errors which have been made. Many times there are errors on your credit reports as given by the creditors, which you may not be aware of. On a separate page you should make a list of these errors. The errors which you should look out for, are errors concerning payments and incorrect information such as your account number etc. Write any and all errors you can find. Even when you have paid your debts very often creditors will neglect to clear your credit record of the outstanding amount.

Once you have made a list of all the discrepancies you should write a dispute letter to your bureau. Once you have written your opening paragraph you should list the errors. A dispute letter will have a list of disputes which would look like this: Not my account. Paid on time. Wrong amount. Wrong account number . Cleared outstanding amount.

The bureau will then investigate your claims, and once that is done you will immediately see your credit scores increasing.

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