 HOME PAGE
Katie's Credit Glossary
| PREPARING KIDS FOR CREDIT, STUDENT ISSUES
|
Kids, Money, and Credit
College and Credit Cards, Student Credit Cards
How to Pay for College: Financial Aid information
The Truth About Debt Consolidation Programs
Credit & Divorce
Child Support & Deadbeat Dads
Choosing the Right Credit Card for You
Personal Bankruptcy Explained
If You Have Been Treated Unfairly By a Creditor
Debt Consolidation Scams
Debt Elimination Scams
Debt Settlement Scams
Christian Credit Scams
Predatory Lenders
Identity Theft
Tips for 1st Time Home Buyers
What to do if You've been Denied
Credit & Home Buying
Negotiating a Home
| NEGOTIATING AND REPAIRING CREDIT
|
Negotiating Debt With Your Creditors
Your Rights Regarding Debt Collection
Free Credit Repair: How to Clean Up Your Own Credit
Easy Steps to Building or Re-establishing Good Credit
Disputing Mistakes on Credit Card Statements
| CREDIT REPORT INFORMATION, CREDIT SCORE INFORMATION
|
How to Get Your Credit Reports
How Long Do Entries Stay on My Credit Report?
How to Read Credit Reports
Credit Score, FICO Score Explained
Innovis: The Fourth Credit Bureau
Federal Law Concerning Credit
Katie's Links
EMAIL KATIE
DISCLAIMER
|
 |
FREE CREDIT REPAIR: HOW TO CLEAN UP YOUR OWN CREDIT
In my opinion the term "Credit Repair" is really a misnomer. All of the information in this article is provided to help clear up those "questionable" items on your credit reports. I do not
suggest that you challenge correct and accurate entries on your credit report, even if they are derogatory. That would be unethical.
Cleaning up problems on a credit report is more tedious than it is difficult. Follow these steps:
- Get your credit report - We show you how here on this site.
- Analyze your report - Again, we show you how here on this site.
- Itemize - Make a list of all items that you consider to be questionable (as in not your account), outdated or negative. Write down an explanation of why you are disputing the information.
- Write a dispute letter to the credit bureaus.
- Send the letter to the credit bureaus. Make sure you send it registered or certified mail, always fax a copy of your letter as well and keep copies of all of it.
- Keep records of when you sent your letters, and the results. Keep receipts from mailing.
- Wait for the bureaus to investigate your claims.
- Analyze the results.
- If the item that you are disputing was not removed or changed to your satisfaction repeat steps 1, 2 and 3 above until the dispute has settled satisfactorily.
There is no charge for a reinvestigation. If you don't get the results you want, dispute the listing again and again and again. This is what I mean about tedious. This will work. There is no need for you to employ a outside company to help you do this. To be honest with you I would never do that. Credit Repair can be very expensive, the repair companies usually charge very high start
up fees and monthly fees on top of that. Doing it yourself is free--just keep at it!
The key to doing this is to be organized and record every move that you make. If you send a correspondence to a company keep the certified mail receipt and mark in a notebook what you did, who you sent it to and what date that you sent it. You need to keep in mind that credit bureaus make their money by providing credit reports to lenders not by fixing inaccurate information in their database.
Sample Dispute Letter:
Date
Your Name
Your Address
Your City, State, Zip Code
Complaint Department
Name of Credit Reporting Agency
Address
City, State, Zip Code
Dear Sir or Madam:
I am writing to dispute the following
information in my file. The items I
dispute are also encircled on the
attached copy of the report I received.
(Identify item(s) disputed by name of
source, such as creditors or tax court,
and identify type of item, such as
credit account, judgment, etc.)
This item is (inaccurate or incomplete)
because (describe what is inaccurate or
incomplete and why). I am requesting
that the item be deleted (or request
another specific change) to correct the
information.
Enclosed are copies of (use this
sentence if applicable and describe any
enclosed documentation, such as
payment records, court documents)
supporting my position. Please
reinvestigate this (these) matter(s)
and (delete or correct) the disputed
item(s) as soon as possible.
Sincerely,
Your name
Enclosures:
(List what you are enclosing)
|
|
For more info:
|
|
|
