Have you been confused or scared by the idea of checking your credit report and making changes? It doesn't have to be hard to fix your credit. Jim Kemish is a well-known expert on credit repair, and this step-by-step guide to credit repair success is written by him.
Introduction
Over the years, I've talked to a lot of people about their credit. People often ask me to explain what should be done to fix mistakes on credit reports. Here is a step-by-step plan that will work if it is carefully followed. The information in your credit report has a big effect on how well your money goes for you. Your efforts to improve your credit score will pay off in a big way. Best of luck!
Get copies of the reports on your credit.
I really think you should get three separate copies of your credit report instead of one that combines all three. The tasks that come next will be a lot easier because of this. You will be sending messages to the three different bureaus, so it is very important that you stay organised. You can get a free copy of your credit report once a year from annualcreditreport.com. If you've done this in the last year and need to buy your reports, please make sure to buy each one separately.
Set up a plan for your work
Now that you have your three reports, it's time to get things in order. Make three separate files and clearly write the names of the credit bureaus on each one. For each bureau, you will need to follow the instructions below. You should keep copies of all of your correspondence with the bureaus in the right files so that you can keep track of the results and take any necessary follow-up steps. It's time to start working!
Look for bad things to say.
Check each report to see if it has anything bad in it. Write down anything you see that makes you wonder. Don't assume the worst about yourself. If you don't remember a late payment or don't recognise an account on your credit report, you shouldn't assume that it is correct. Credit reports are known to be wrong. You have to take care of yourself. You will fight against everything that doesn't make sense.
Look at information that is not biassed.
Most people skip over this step. Even so, the neutral information on your credit report can hurt your credit scores just as much as the more obvious negative information. Neutral information includes the first date each account was reported, the high credit limits for each account, the current balances, duplicate accounts, and inquiries that haven't been answered before. These things are important. For example, you might lose 20 points on your credit score if you don't tell the truth about how much credit you have.
Start your fights now.
It's time to start writing letters to the agencies to dispute everything that seems wrong. If you take the time to do things right, you will be able to fix your credit. These tips could change everything. First, type your letters of protest. Second, keep it simple. Just say what you need to say and no more. And finally, don't argue about more than three things at once. If you follow these steps, you will be very happy with the results.
Dispute Again
There's a good chance that the first answer you get from the credit bureaus will say that they checked the item in question and the creditor confirmed that it was correct. Don't be afraid. The system is set up to give this answer. After all, the creditor is the one who put the mistake on your report. So it's time to argue once more. This second dispute must make it clear that you are not happy and want more information about the problem. If you aren't happy with the results of your second dispute, don't be afraid to dispute a third time. This is the last and most effective step in fixing your credit. This time, you have to insist that they show you proof. If the item that was reported was wrong, it will now be taken away.
Other Helpful Pointers
If you don't have a lot of credit, you should open one or more new accounts. If you can't get a regular credit card because of your credit, you should apply for a secured credit card. These need a small deposit from your savings account as collateral. As an additional cardholder, you can also be added to the credit card of a friend or family member who already has one. Of course, they have to be willing to help you in this way, but once it's done, the item on your report will help your credit score.
Summary
This process takes some patience, but if you follow these steps, you will be able to do it. Don't let fear stop you. It is your right to fix your credit.
All content is owned by James W. Kemish and all rights are reserved.
