Self-Help For Credit Repair?

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Self-Help For Credit Repair?
Undertaking Credit Maintenance and repair On Your Own (What To Do And What Not To Do).

If you have recently been turned down for a loan, or for a new credit card, you may be in need of credit maintenance and repair. Being denied credit is typically the result of a bad credit report, which can happen in two scenarios. You have either managed your credit improperly, which has reflected in your credit report; or your credit file has some erroneous items, thus negatively impacting your report. In either situation, it is crucial that you undertake credit maintenance and repair as soon as possible.

TO DO:.

Here is a method to help with your credit maintenance and repair. You can do this on your own and can thus repair your credit totally free.

Request a copy of your credit report from any one of the 3 credit bureaus. If this is your first request of the year, you will be given the report totally free.

Once you have your report, examine it closely. You have to study all the entries and mark all those which are incorrect and which are damaging your credit worthiness.

After you have determined the wrong entries, you have to contact the credit reporting agencies and tell them to delete the erroneous entries from your report.

Even if there are some right entries in your credit report, but these are negative in nature, you could still get them removed. This would go a long way in ensuring credit maintenance and repair. There is a certain time limit for which negative entries can stay on your report (normally between 7 and 10 years). If such time limit has passed, you must write to the credit bureaus to delete the negative items from your report.

Ensure that all your correspondence with the credit companies and agencies is through registered mail. This way, you have proof of your requests and also when exactly you initiated the process of your credit maintenance and repair. Keeping a record will also help you in case any deleted entry is re-included in your report anytime in the future.

Within 30 days, some action must have been taken regarding the wrong items on your report. If the credit bureaus determine that the entries were in fact wrong, they will remove it from your report, thus bringing about the credit maintenance and repair that you were after.

In case the matter is not fixed to your satisfaction, you must continue challenging the items on your report till such time that credit maintenance and repair has indeed occurred. Please be sure to go at our website debt software or you can take a detour and take a look at this internet site be debt free

NOT TO DO:.

People whose credit score is low or who have a bad credit report typically try desperate means to repair credit and thus end up hurting their credit even more. Most of the information available on credit score maintenance and repair and credit report maintenance and repair tells you what to do to restore good credit. However, we will tell you about some of the things that you must NOT do in order to repair bad credit.

1. File Segregation: Many credit maintenance and repair companies draw people with the false promises of bad credit maintenance and repair by telling them that they can create a new credit file for them by issuing them a new identity. This is known as file segregation. However, you need to understand that such a process is not legal and can even put you behind bars if you try to segregate your credit file to repair bad credit. Thus, no matter what any credit maintenance and repair company tells you - things like you will not be able to get any loans or even a credit card for the next few years, or that you will not be able to get a job etc; under no scenarios must you agree to the process of file segregation to repair bad credit.

2. Deleting accurate information from credit report: Some credit maintenance and repair agencies make claims to people that they can repair credit by getting accurate information of a negative nature deleted from their credit reports, thus improving their credit rating. However, this simply can not be done. Only inaccurate information can be removed from a credit report and not accurate data, unless such data is older than 7 to 10 years. Thus, you must not trust anyone who tells you that they can repair bad credit by removing negative items from your credit report.

3. Advance Payments: No credit maintenance and repair agency is legally allowed to ask for advance payments. They can only charge for services that have already been given and not beforehand. Thus, you must NOT be taken in by any company who wants high advance payments.