Credit Repair Help How To Fix Damaging Entries In Your File

Credit Repair Help

How To Fix Damaging Entries In Your File

About Credit Bureaus

Credit bureaus aren't in the business of providing credit repair help or credit report repair. Their business is collecting information on consumers, then providing that information to lenders.

On this website I'll provide a good deal of credit repair help so you can deal effectively with these agencies.

There are over 2,000 credit reporting and collection agencies operating in the United States.

They have a lot of power, and it can be rather intimidating going up against them, but you're going to have the knowledge to deal with them. The three major credit bureaus are:

• TransUnion (410) 712-0034 P.O. Box 390 Springfield, PA 19064



• Experian (formerly TRW) (800) 682-7654 P.O. Box 2104 Allen, TX 75013-2104




• Equifax P.O. Box 740241 Atlanta, GA 30374-0241 (800) 685-1111

All of the tactics concerning credit repair help that I've mentioned below are completely legal and above-board, and the regulations governing credit bureaus will be used to your advantage.

Steps To Credit Repair

• Request a copy of your credit report from a credit bureau. If there is an error, write to the bureau and ask it to fix the mistake. It might also help to contact the creditor who reported the error. Some creditors will contact the bureau on your behalf.



• If the bad marks on your credit report result from outstanding debts, repay them as quickly as possible. Pay off those with the highest interest rates first.



• If your debts are overwhelming,get credit repair help by contacting a credit counseling organization to work out a debt consolidation plan. A counselor will help you consolidate your debts and will contact your debtors on your behalf to reduce or eliminate finance charges. This can reduce your monthly payments by up to 40 percent.





• Be suspicious of any company that advertises aggressively or sends unsolicited mail or e-mail. Read about scams on this page: Credit Repair Scams




• Cut up your credit cards, but don't close your accounts. Sell valuables or liquidate assets that will help you repay your debts. Buy the bare essentials (food and gas) and use the rest of your earnings to pay off your debts.



• Get credit repair help by working with a credit counselor to repay all of your debts.



• Meanwhile, live a life that will help you re-establish good credit. Pay rent and utilities or mortgages promptly, keep the same residence and job, maintain savings and checking accounts, set a budget and stick to it.



• This suggestion won't be very appealing, but why don't you consider going without a car for awhile? (I can almost see the look on your face.) For most people a car is a luxury, not a necessity. I know a lot of people will disagree with that.

As you know, keeping a car on the road is quite expensive, but if your financial situation is very bad, you may want to consider the above, or keep an older car for a long period of time.
Speaking for myself, I could buy a new car, but I don't like to put my money into something that depreciates. My car is 18 yrs. old and runs just fine.


• Once you have repaid your debts, apply for a new credit card to build a good credit history. It might be easier initially to get a department store or gasoline credit card or one from an employee credit union. Note that a department store card will have high interest rates, and may not look good on your report.



• Promptly pay off the balance of the credit card monthly to build good credit. Use the card responsibly.



• If you don't qualify for a regular credit card, apply for a secured one. With a secured credit card, you fund an account up front and then "charge" expenses on it. This card will show up as a credit card on your credit report and, if used responsibly, can help you build a good credit history.

More Credit Repair Help

If mistakes have been made, or damaging inquiries in your file, you may never know about it. If you apply for credit and are denied, you will be told by the lender that it was because of a credit bureau report.

If your application for credit was denied you can get a free report from the credit reporting agency, but it's best not to wait before you're turned down.

Even if you think there is no problem, it's a good idea to get a report anyway.

Apparently, people are very trusting, they believe that everything will be accurate on their report, whereas in reality, a lot of mistakes are made. Incorrect information includes computer errors, wrong addresses, wrong social security numbers, incorrect income etc.

Many people have poor credit reports through no fault of their own, others have poor ratings because of divorce, sickness, and from employment difficulties.So most people are not deadbeats, they are simply experiencing some of life's troubles, and may want credit repair help. To read more about credit reports check out Credit Report Repair part 1

Lenders in a particular area may deal with one credit reporting agency, but some will deal with more than one - here's how this can work in your favor:

You could have damaging information on one report, but not on another. Therefore, approach the lender that deals with that agency. (You will have to ask the lender what agency they deal with.)

Approach a lender in another area who may not deal with the agency that gave you a bad report.