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Credit Repair for Beginners

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by: No more debt !
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Date: Sun, 25 Jan 2015 Time: 11:07 PM
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When it comes to credit repair you have a couple of options. Firstly, you can go it alone, or you can reach out for some help from a third party. Who are these third parties? Credit repair companies are businesses that are trained to help you dispute inaccuracies on your credit report and can help provide advice on how to fix your credit more effectively.

Here are just a few things you can do to get a head start on the process:

Contact the credit bureau

Get ahold of the three major credit reporting companies and request detailed reports of your credit score (Equifax, TransUnion, Experian). If you are willing to wait for hardcopies in the mail, you can often get these free. If you are in a rush for the information, you can reach these companies online and purchase an online copy of your report, which you can then print out. After reviewing the reports yourself, you'll want to forward a copy to you're the credit repair company you are working with. In order for them to be of the greatest assistance, they will need all the information. Once this is done, they can better guide you on how to repair your credit.

Disputes

Inform the repair company of any inaccuracies on your reports. Explain the situation and then sit back and let them do their job. Once they are through, outdated or incorrect information will be removed from your reports, which should cause a rather immediate spike in your credit score. How to repair your credit begins with accurate reporting, so this will be a good motivator for you to keep working out raising the score.

Lenders

If you have any lenders that don't seem to be reporting regularly to the credit bureau (which you should be able to see in a detailed report), you can contact them. Although policies may vary between lenders, you can still request that they report monthly to the credit bureau. Your credit score will rise as each on-time payment is reported. If a lender only reports periodically throughout the year and is not willing to change that, you may notice your score only changes at certain time of the year. Don't let this deter you. Learning how to repair your credit is a good first step and each score improvement you see will be well-earned.

Organization

Any third party credit repair company will tell you that learning how to repair your credit is largely about learning how to manage your finances. You need to be diligent about making bill payments on time, and you need to keep on top of high interest accounts, like credit cards. A good rule of thumb is if you don't have the money in your bank account, don't put it on your credit card. If you are already carrying a fair-sized balance on your credit card, don't add to it. Cut up the card and keep paying it down.

If you are looking into how to repair credit then you are already on the right track. Commit yourself and you will see a big improvement before you know it.

About the Author

Step 1 Credit is one of America's leading credit repair companies helping customers with bad credit on figuring out how to repair credit ( https://step1credit.com/relatedTopics.aspx?RelatedTopicID=5 ) and get approval for auto loans, mortgages and credit cards. For more information on credit repair, visit Bankrate.com.


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