Tips on How to Repair Your Credit

If you find inaccuracies on your credit report, the responsibility lies with you to begin the correction process. You must write letters explaining what the problems are and how you want them fixed.

There are more credit mistakes on credit reports than you can possibly imagine. The first step is obviously to get a copy of your report.

Then you must go over it with a fine toothed comb to ensure accuracy. Once you find a problem you need to address it with the specific creditor.

Remember that each credit reporting agency maintains its own database of information. So one agency may report something inaccurately while another may have it correct.

In many cases this means to remove an item that has made its way onto each bureaus agency report, an individual must write three sets of letters and follow the process through with all three different agencies in order to be sure an item comes off from the reports. Once notified of a problem an agency will contact the creditor or reporter of the item in question and seek a response regarding the accuracy of the item.

A general rule is also that you must report one item per correspondence. This cuts down on any confusion that may come from reporting multiple errors.

Once you find you have completed the task of notifying the agencies, follow up once again or check the report again. Just because a letter has been written and a creditor has not responded within a given time frame does not mean that the agency will remove the report without further follow up and an additional correspondence.

On the other hand keep in mind changes may take a month or more to appear on a report. While the process for proper credit reporting is in place, assuring accuracy of your own credit report rests with you.

Sometimes one of the best ways to improve your credit score is to do nothing. That is one of the few things in life that work this way!

The simple passing of time can be a big reliever to your credit score once negative items have ended on your report. The only disadvantage to this is that you must be patient and let time pass to fix your report.

Even those with the best of credit cannot buy more time or speed the passing of time. Generally the date used to trigger the passing of time in this context starts with the date of the last activity of the account.

Honestly, one of the best ways to keep your credit score, and report, in tip top shape is to stay out of trouble! Repeating your poor credit habits will just cause you more headaches in the future.

Creditors can be somewhat understanding of a bad credit incident, if corrected. This can be particularly true when the bad credit originated with problems outside of the debtors control such as emergency medical bills.

Repeated bad credit behavior is indicative of a problem you have with deeper roots. If you want your credit to improve, be good with your new credit and your old credit.

This means taking care to know what is going on with your report and to make sure your payments are on time. On time means never being 30 days late.

At fifteen days you may pay a late fee, but late items must hit 30 days overdue before they will be reported. Using credit does not mean abusing it, you need not run the card up to its limit.

To accelerate the rebuilding process try to have at least three active credit lines open, and be perfect with them. Car loans or mortgages count if you still make payments, as well as old credit cards if they can still be used.

Make sure when taking a new credit for rebuilding purposes that the creditor reports to the major credit agencies. Not all creditors submit information to the credit bureaus, and almost no debit card or check card issuers do, even ones with a MasterCard or Visa logo. Author Resource:- Jack R. Landry is a former creditor and has worked in the credit bureau business for 16 years helping individuals repair bad credit. He has been a guest lecturer for over 11 years.

Contact Info:
Jack R. Landry
JackRLandry@gmail.com http://www.SwiftCreditRepair.com