Bad Credit Report Repair

Bad Credit Report Repair

Bad Credit Report Repair-- Solving the Problem

It is possible to fix your Bad Credit, with time, patience and determination. The first step in repairing Poor Credit is fixing any problems you may have with money.

1) Get a Credit Reports on yourself and check out what is on them. To get yours free go to www.annualcreditreport.com. You are allowed by U.S. law to get a free copy from each of the three major credit companies once every 12 months.

2) Once you have your credit reports, check them for accuracy. If there are any errors or things you disagree with, you are entiltled by the Fair Credit Reporting Act law to dispute anything in the report that is not accurate. Write to the credit reporting company and explain what the problems are. They will then investigate the matter and let you know what happens. If they find the information is not accurate, they will fix that on your credit report.

Unfortunately you can't remove anything negative that is accurate information about you. Only time can do that. But adding more good information does help.

3) If your credit needs repair, start work on it now. Start paying off old unpaid debts and loans, starting with the smallest ones.

4) Start paying more than the minimum payment on your current Credit Card payments.

5) Do not get into any new debt. This is essential. Make it a priority to get out of debt. Cut up (or lock up) the Credit Cards, if they are a problem for you. Make it a commitment to become debt free.

6) Live within your means. Make a budget and live by it.

7) Start saving money. If you have poor credit, it is much easier to buy a home or a car with a cash down payment, than without one.

There are many sources of help available. Consumer Credit Counseling Service is one of the best for help Repairing Credit and getting debt under control. Their website is located at http://www.creditrepairsoft.com. Consumer Credit Counseling Service provides budget counseling, educational programs, debt management assistance and housing counseling. There are also many local branches of this nonprofit organization, so check for one near your location.

There are many "for profit" organizations that will help you with debt consolidation loans, but beware! They often are very expensive. You can get free reliable help that you can trust from a non-profit organization like Consumer Credit Counseling Service instead of paying hundreds of dollars to one of them. Or, you can educate yourself and do it for free.

Some other good places to go online for more credit and financial advice are listed on my website at www.creditrepairsoft.com

About the Author

Mark Henry is the author related to Credit Repair Software, Bad Credit Repair Credit Repair Software Kit only at creditrepairsoft.com. Buy Credit Repair Software to repair your Credit Rating, to raise your Credit Score and to maintain an Excellent Credit Score.

HELP I need to clean up a very bad credit report.?

My Credit is a disaster. I had a mulitude of things that have caused it. My problems started with severe medical problems and a business failure then foreclosures on several homes (18) I had to go through Bankrupty in 2004. My credit is so bad I tried to rent an apartment and my report did not even show any score. I also have IRS leins both state and federal.
My medical problems are behind me but how can I regain my credit. What is the process in disputing information that is not accurate. Everyone says you can Clean Up Credit but no one explains how unless you pay them. I would be more than willing to pay if I thought I trust them but I don't. Most of the credit repair places are just scams.
I have a small business and would like to expand but it is impossible with my credit. Everything is cash only.
My health is good and my business is doing fine.
How can I get my score back into the high 700"s like it was before. Where do I start? How many years will it take?

Well, it won't be easy, and it won't be quick, but you CAN do this on your own.

First things first - you state that you don't have a FICO score - but you do. If you get the 3 Credit Scoring companies reports (which you are entitled to for free once a year at freecreditreport.com), you can see what you have on file with each of them.

For each disputed transaction, you must provide documentation (and sometimes multiple times), including agreement from the lienholder that the debt is discharged, incorrect, or whatever the problem is. Ensure that it is correct, a written off debt is different than a cash settlement.

For the IRS, I recommend just using a tax attorney (not a service) and see what can be negotiated. Do not believe the ads which state it can be eliminated - at a minimum you'll pay principal, but usually penalties and interest can be negotiated down.

The bankruptcy will probably weigh on Your Credit Score for a long time - Once your Credit Score Is cleaned up, you might be able to qualify for a store or gas station credit card (they are more lenient on their requirements, although your credit limit may be in hundreds rather than thousands of dollars) - use that credit card every month, even if only a single purchase, and pay it off to a zero balance monthly. That will start Improving Your Credit Score.

Do remember that your Credit Score Changes every day - mine ranges from 805 - 828 on a daily basis, depending on where I am in bill cycle and which of the 3 credit scoring companies I'm looking at. When I got divorced, just the act of closing joint credit cards pushed me down to the 740 range for a couple of years, so don't discount that any action, no matter how small, can negatively or positively impact your credit score.

Depending on how good your business is, you might try to work through prosper.com or other private lending instititions to improve your cash position today.

Bad Credit Report Repair

 

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Bad Credit Report Repair

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