A Guide to Do It Yourself Credit Repair

Credit is an important thing to have these days. Good credit can provide you with a variety of opportunities, such as obtaining loans, mortgages and financing when you need it. Bad credit, on the other hand, can have a negative effect on many aspects of your life. You may have seen advertisements for companies that claim to fix your credit. However, do it yourself credit repair is possible and sometimes even better than working with an organization.

The first part of credit repair is to obtain your credit reports and scores from the three major credit reporting agencies -- Equifax, Experian and Trans Union. Once you do that, look carefully at every item on each report. You are looking for mistakes, errors and discrepancies. If you find any, you'll want to write a letter to each creditor requesting debt validation. If they cannot provide it to you in 30 days, they must remove the listing from your report and provide you with documentation of this.

Once you've gone through the process of validating debts and having errors removed from your credit report, take a look at the outstanding debts that remain on your report. Contact each collection agency listed and work out an affordable payment arrangement. Ask them if they will write to the credit bureaus and have the negative item removed once you've paid the account off in full. Many of them will be more than happy to do so.

After you've validated, disputed, and set up arrangements for the debts you do owe, it's time to pay them off as specified. Then, you can begin attempting to obtain new credit. A secured credit card issued by your bank or credit union is a good way to go. With a secured credit card, you deposit an amount of money equal to your credit line to act as collateral. Then, simply use your credit card as you would an unsecured card and make your monthly payments on time. Eventually, you will establish a history of timely payments and find that obtaining credit gets easier.

Do it yourself credit repair is a process that will take some effort and time. However, it's one of the most important things you will ever do and will make a difference in your financial future. For more information, follow the links on this page or click on the graphic in the navigation menu to the right.



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In short, it literally pays to have good credit. But if your credit history isn't looking its best, you can do more than just wait years for bad marks to expire. You can, and should, do what you can to repair it. And as with many things subject to .

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