Credit Repair Tips

Free Credit Repair Tips, Clean Your Credit

Here are some great credit repair tips for you:

If you have failed to pay a debt, it can remain on your credit report for up to seven years, and might even remain up to seven years after you have paid the debt. If your credit report is "clean," the paid debts usually remain on your record for ten years.

Because the debt can stay on your credit report for a long period of time, it is important to dispute the debt immediately if it is invalid.

If the information on the credit report is incorrect or you want to dispute any information in the report, you should immediately contact the credit bureau named on the credit report. The credit bureau will conduct an investigation, normally within thirty days.

Here are the credit repair tips;

It is illegal for Credit Repair Agencies to advise a consumer to alter identification or to hide accurate information in a credit report.

Credit repair agencies cannot accept any payment before performing work for a consumer and must also give each client a statement of their rights.

You have the right to cancel any contract you agree to with a credit repair agency within three days of signing it.

Before attempting to improve your creditworthiness, determine your overall credit score.

Apply for a secured cards if your income is less than $1000.00 a month.

Check your credit report to be sure that there are no negative marks on it. Check it carefully for errors, out of date information, and items that are misleading.

Know the 20 percent rule. Borrow no more than 20 percent of your income.

Draft a protest to the credit bureau disputing each bad mark on your record. List each ding that you want to challenge , and include photocopies of any documents that support your claims.

The agency has 30 days to contact you after receiving your letter in most states. Each item on a record must be proven if it is to remain. If the bureau cannot prove the item, it must be removed from the file regardless of whether it is true.

Record your action. Log the date and document sent out.

Wait for a response.

If the credit bureau does not respond within a reasonable time, send a follow up letter.

Ask for an updated credit report.

Compare the new report with the prior report.

Repeat the process.

There are agencies that can assist you with managing your debt. Consumer Credit Counseling Service is a nonprofit corporation that is funded by creditors. It can help you set up a payment plan to manage all of your debt.

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John Q. says...

First Credit Repair Tip

the first thing you need to know about credit repair is that you can dispute any item On your credit report.

The credit bureau have to prove any claims.

If the credit bureau cannot prove acclaim and I have to remove that item from your credit file.

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