Credit Repair Tips

We all could use credit repair tips, especially if our credit report just arrived in the mail and there’s a thing or two in there that may embarrass us should the time come to apply for that boat loan.

You realize now how important it is to have been more up to date with those credit card payments or not have skipped a mortgage payment deliberately, thinking the bank won’t notice.

Well, all the credit watchdogs notice.  It’s their job.  Not only do they notice but they also put it in writing.  Guess who suffers the consequences.

Oh yes, you sure could use a credit repair tip today!

Where do you start the rebuilding process?  Here’s the first credit repair tip:  request a copy of your credit report.  The law stipulates that all individuals are entitled to one free credit report each year.  When you get it, credit repair tip # 2 is to go through it diligently with an eagle’s eye.  Your guiding principle must be to look for errors – blatant or subtle – and have them rectified.

Credit repair tip # 3:  write the agency that issued the report and point out, in detail, the mistakes (better make sure those mistakes are legitimate and that you can prove that they are mistakes).  If you’ve made a lot of financial transactions in the last five years, your credit history repair will take weeks of painstaking effort.  But relentlessness has its rewards.

Credit repair tip # 4:  once you’ve written the agency about the mistake, the law requires them to remove any information that is under investigation, so ensure they remove it from your file until the investigation is completed.  If, after their investigation, they agree that it is a mistake, then they should have it removed permanently.  Your fifth credit repair tip here is to follow up, follow up, follow up.  This is vital.  You have to be vigilant.  It is YOUR credit report, not your neighbor’s.

Here’s a specific example:  if the record shows that you used your credit card in a particular restaurant and the card was refused, you have a right to contest that entry because the restaurant charge was debited from your statement and you paid it off.  Card credit repair terminals are used by millions of merchants.  Repairs to these terminals are frequent, so it could be that your card unfortunately was swiped just as the terminal went on the blink.

Want more credit repair tips?  You’ll find some smart ones on cyberspace!

Credit Repair Tips