How To Repair Credit And Do It Yourself

Know Your Credit Repair Rights

The Fair Credit Reporting Act (FCRA) allows you to request an investigation of any information in your credit file that you dispute is incomplete or inaccurate.  No fee is necessary for this.  While learning how to repair credit isn’t difficult, some consumers don’t like the do it yourself approach and prefer to leave the time consuming task to a professional.  Some repair facts you should know:

1)  You entitled to get a free report if a company takes “adverse action” against you such as denying your application for credit, insurance, or employment.  You have 60 days to request your free report from the date you receive notice of the action.  The contact information for the consumer reporting company will be on the notice given to you.  You can also get one free report a year if you’re unemployed and plan on finding a job within 60 days.

2)  All three nationwide consumer reporting agencies – Equifax, Experian, and TransUnion- are required to give you a free copy of your credit report every 12 months,that is if you ask for it.  Instead of contacting each of the the three reporting agencies separately and requesting your free report, you can get all three credit reports from one convenient source.  You can find this information for free when you sign up for my no cost credit repair course.

Basic Steps On How To Repair Credit

You can contact the consumer reporting company in writing and inform them of any information you think is inaccurate or incomplete.  Be sure to submit copies of any documentation that prove your case.  Also include your name, address, the disputed item, the facts and reasons you dispute the item, and your request to have the item deleted from your file.  Submitting a copy of your report with the disputed items circled is also helpful.  Send all correspondence by certified mail, “return receipt requested” for record keeping purposes.

A Sample Do It Yourself Credit Repair Dispute Letter can be found in my credit repair course “33 Days To Near AAA Credit”. Sign up now to get your copy.

By law, the consumer reporting companies have 30 days to investigate the items you dispute – unless they consider your dispute frivolous.  The reporting company will forward the dispute to the creditor who must verify the information as correct.  If a creditor affirms the item is incorrect, or doesn’t respond, the reporting agency must remove the item from your report.

After the investigation is finished, the consumer reporting agency must provide you with a free copy of the corrected report.  Any disputed items that are deleted are not allowed to be put back into your report unless it is verified as correct by the creditor.  You can also request the reporting agency send notices of the correction to anyone who received a copy of your report in the last six months.  At your request, the reporting agency can send a corrected copy of your report to anyone who received a copy during the previous two years for employment purposes.

If your efforts to correct the mistake fail, you can request the reporting agency include a statement of your dispute in your file.

For more in depth credit repair secrets and strategies, sign up for my FREE “33 Days To AAA Credit” course.  You’ll learn how to repair your credit quickly within 33 days plus you’ll receive valuable solutions to your everyday debt problems.

Best of Luck!

Bobby Tan