You Ought to Understand Do It Yourself Credit Repair

You Ought to Understand Do It Yourself Credit Repair

You may be thinking about do it yourself credit repair, but are unaware of where to start. We will show you the basics of do it yourself credit repair in the following article.

Simply stated, repairing your credit involves looking for inaccuracies on your three credit reports and disputing them with each credit reporting agency, and adding positive accounts to your credit to help increase your score. First, we accomplish this by attaining your credit reports from the three major reporting agencies TransUnion, Equifax and Experian. You can request one free credit report each year. Then, examine the reports for errors and send off a letter to the reporting agency identifying each error and demanding that they correct the error.

The credit reporting agencies can report information according to rules that are outline in the Fair Credit Reporting Act. Enacted by the FTC the Fair Credit Reporting Act is a powerful piece of legislation to protect consumers from unfair credit reporting practices. The rights of consumers, in regards to their credit reports, and how credit reporting should be handled by the credit bureaus and furnishers (aka creditors), is addressed in the Fair Credit Reporting Act.

Credit Repair companies want you to hire them to repair your credit, but there are probably better ways to go about it. Every step of credit repair can be done by the consumer, without any experience in credit repair or any special training. All you need to get started is a good resource on credit repair. I have yet to locate any type of free credit repair resource that is worth using. Almost all free do it yourself credit repair information is inaccurate, incomplete or designed to sell you another product, such as credit repair services, which are often not effective, and when at their worst, an utter waste of money.

Your best option is to invest a little bit of money and purchase a comprehensive do it yourself credit repair system. The best credit repair systems offer regular updates and some type of direct support to answer your questions. This means that buying a book from the bookstore around the corner will give you information that is not current and no support as you go through the process.

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