Wednesday, January 24, 2007

Do's and Don'ts of Credit Repair

By Joseph Ducat

When you are working towards credit repair, you must keep in mind that there is a right way and a wrong way of going about it. It helps to know the do's and don'ts of credit repair if you want to accomplish more in less time. Here are some tips I can offer you.

Always get copies of all three of your credit reports from the consumer reporting agencies Equifax, Experian, and TransUnion. These reports do not contain the same information. If you are serious about fixing your credit, you need to work on the credit reports compiled by all three major credit agencies.

Consult your credit report in 3 to 6 months before trying to get a mortgage. If you need to repair your credit, you need to know this and have it fixed as soon as possible. You can get many mortgage lenders to help you with your credit repair, and with their special resources, they are likely to be able to get it done in less than 72 hours. You will have to pay for this service, but that’s a one-time payment that can net you an increase in your credit score that is enough to merit a lower interest rate and save you thousands of dollars in the long run.

Sign up for a credit monitoring service. There are many of them available online. They can provide you with your FICO score as well as updating you on changes in your reports. But be judicious in selecting a service package. Some packages only provide you with reports every quarter, while better ones allow you to check your report every day.

Never put down false information in your correspondence with credit reporting agencies or anyone else. There may be serious legal repercussions if you are caught lying--and your credit report will remain unfixed.

Be very tactful in wording your dispute letters. You do not want to run even the slightest risk of making a misstatement, perhaps inadvertently. Even if you are certain a listed account does not belong to you, do not write that the account is “not mine.” Instead, ask the credit reporting agency to verify the account for you, and delete it if verification shows it to be an incorrect entry.

Take steps to protect yourself from identity theft. It can result in credit fraud that can greatly damage your credit score. Guard your Social Security number tightly, and all other personal information as well. Get a shredder if you do not have one and shred any documents containing personal information before putting them in the trash. Protect your computer files as well. Get reputable firewall, anti-virus, and anti-spyware software and increase the security settings of your web browser.

Learn about the Four Laws That Can Help You In Credit Repair. Get further information and useful tips from http://creditrepairinsider.info

5 comments:

Anonymous said...

To get a house, get a car, have a credit card, and basically legally exist in the United States, you need to have credit. And if you want to have the best opportunities for success, you’re going to need GOOD credit. Yes, you did see those words ‘Good Credit’; it’s not an oxymoron – it’s quite possible. Here is an article about How to fix your poor credit

mybadcredit said...

I know you have seen Credit Repair books online selling for anything from $9.99 to $190.00.
I found a great ebook on credit repair that I used to take my credit score from a 616 to 742.
It is still for free so I encourage you to sign up for their free credit repair guide at this resource
Credit Repair. Hope you'll also find it useful. Have a super day!

Seamus O'BrĂ²g said...

If You Pay For Credit Repair, You Haven’t Learned Anything Yet!

Tony said...

I agree with you 100% Seamus o'brog. free credit repair is definetly the way to go. If you ever have credit problems again in the future you can always reapply what you have learned. Knowledge is definetly power.

ALEISH said...

There are many credit repair companies out there, disguising as help who are only after your money. So, be warned! Here are the Warning Signs of Credit Repair Rip-offs.

Hope this resource will be helpful to you readers and your blog too.