subject: Fast Credit Repair - How You Can Rebuild Your Credit Quickly And Easily [print this page] Do you have negative items on your credit report? Would you like to discover a way to get rid of bad credit, build positive credit information, and establish a good rating? If so, keep reading. Fast credit repair can be done if you know how.
If you have derogatory information on your report, it is imperative that you take steps to repair your report as soon as possible. Bad credit can make life very difficult for you. A bad credit rating will make it difficult to get any type of loan, or do things that require a good credit history.
Negative items can stay on your report for seven years, so if you are not willing to wait that along, then don't ignore your credit record. It is crucial that you repair your report as quickly as possible.
The first thing you should do is to order a copy of your report, to find out what what your prospective lenders see when they review your credit report.
When you receive your report, go through it. Look over it carefully for negative accounts and inaccuracies, particularly older accounts. Once you have reviewed your report, begin disputing the damaging entries on your report right away. Correct and update inaccurate information you find on your report.
If there is any information in that report that is not true, or if you disagree with any information on it, don't hesitate to dispute it. You have the right to dispute information on your report that is inaccurate or incomplete. By law the credit bureau must investigate.
Enclose copies of supporting documentation, and explain why you believe the information is incorrect. Keep copies of everything you send and send the letters certified mail with return receipt requested.
The credit bureau must investigate your dispute and get back to you within "a reasonable amount of time." You should receive a written report on the results of the investigation.
In the event that the dispute does not end in your favor, you have the right to ask the credit bureau to add your version of the dispute in your file, and in all credit reports from that date forward.
After you have removed negative entries, it's time to rebuild your record. Secured credit cards can be an effective way to re-establish your credit history. To get a secured credit card, you will be required to deposit money in a savings account as collateral for the card. No withdrawals can be made from the savings account securing the secured card while the secured credit account is open.
Before you apply for a secured credit card, make sure the card issuer reports to all three of the major credit bureaus. If your card issuer does not report to the credit bureaus, there is no need getting the secured card. The reason why you want the secured credit card is to help you build a credit history.
By using your card to make purchases and making sure you make all payments on time, you will be building positive credit. In other words, you'll be proving to creditors that you are responsible and can be trusted with credit.
