How to Repair Your Credit Report and Score

There are a number of ways you can repair your credit report and score. Using these strategies will not only save you money but will also help you take control of your financial future.

Getting Current on Past Due Accounts

Your payment history is one of the most important factors affecting your credit score. Missed payments can drag your score down significantly, but it is possible to improve this aspect of your credit history with time and effort.

Paying your bills on time can also improve your credit utilization ratio, which is the amount of credit you use compared to the total available for borrowing. You can lower your utilization by making multiple small payments during a billing cycle, paying off credit cards as soon as they become delinquent, or by making a lump-sum payment on all of your outstanding balances.

Dispute Negative Items

Disputing negative items on your credit report is an essential part of the credit repair process. These items can be disputed by sending a letter to the credit reporting bureau with proof of the item in question. The credit bureau will then investigate the dispute and report the results in writing to you. If the credit bureau decides that the item is inaccurate, it will be deleted from your report.

It is important to dispute errors on your credit reports as soon as you identify them. Generally, these negative items can be removed within 30 days of being reported. However, it is often necessary to follow up with the credit bureau in order to ensure that they actually remove the item from your credit report.

Choosing the Right Credit Repair Company

A good credit repair company can make all the difference in the world when it comes to repairing your credit. They have the training and experience to find and correct erroneous items on your credit report. They know how to approach the credit bureaus in a way that is likely to cause them to respond quickly and effectively.

They can also work with creditors and debt collectors to get accounts that have been reported as being in your name removed from your credit report. Having a collection account that you have been unable to pay is a serious mistake, and can have serious consequences on your credit history.

Choosing a credit repair agency that is affordable and offers a high success rate can be a great way to boost your credit rating. It is important to shop around for the best credit repair services, as well as to compare their fees and guarantees.

The key to finding a reputable credit repair company is to read consumer reviews and check whether the company has any lawsuits against them. This will allow you to avoid companies that are not trustworthy or who are just looking to take your money.

You should also be sure to order all three of your credit reports before starting the process. This will give you a more comprehensive view of your credit history and provide you with the opportunity to dispute information on all three bureaus simultaneously. You should also make an extra copy of each report so that you can keep a record of any disputed entries and track the progress of your disputes.