Repairing Your Credit

Step1: get copies of your report

You may connect to each credit reporting agency individually, or get your 3-in-1 report. It is important to review all three. Some creditors may only report to 1 or all 3 major credit agencies.


 

 

step2: Check Your Report for Accuracies

Review each report for inaccuracies and negative items that do not correctly reflect your credit position. Look for collection accounts:

- Equifax lists them at the end of the report

- Trans Union mixes them throughout the report.

- Experian gives a brief explanation of all accounts.


If you don't recognize any the accounts, don't assume they are yours. Note: retain the services of a professional legal team to handle all credit repair issues: see information

 

 

Step3: Dispute All Inaccuracies

Dispute all inaccuracies and negative items in your report. You can file a dispute online with the individual credit agency.

Note that you must file individual disputes with each credit agency if the inaccuracy is found on all three agency reports:

You may also send a written notice to each credit bureau using the sample format below:

Name of Credit Reporting Agency
Street Address
City, State and Zip Code

From: Your Name and Social Security number
Street Address City, State and Zip Code
Telephone Number

Date: Re: Correction of Errors in Credit Report

Dear (Name of Credit Reporting Agency):

Please be advised that the following error(s) appear(s) in my credit report issued by your agency on the date of (mm/dd/yyyy):

  • List Credit Name Identify the Dispute List Comments (be specific) (if you have any documentation to support your claim, forward copies along with your letter)

Please correct my credit report to remove this incorrect information. (describe nature of error; be specific) _______________________________________
_______________________________________
_______________________________________
_______________________________________

Please correct my credit report as soon as possible to remove this incorrect information. You may contact me at the number above if you have any questions regarding this matter.

Sincerely, (your signature)

 

 

Step4: Clean Up Your Credit Report

After you remove all inaccuracies, your next task is to remove negative items that affect your score; most notably delinquent and non-payment accounts.

Contact each individual creditor (or collection company) to negotiate a manageable repayment plan. Explain your financial situation.

Some companies will drop the interest, forgive part of the loan, or offer extended terms that allow you to make reasonable repayments. Your last resort is to pay the entire outstanding balance in full. Request a written agreement that that the creditor will remove the bad rating on your credit report if you meet the terms of their repayment plan.

Make sure you live up to your agreement. The last thing you want is to fall behind on your repayments.

Note: retain the services of a professional legal team to handle all credit repair issues: see information

 

 

Step5: Get Professional Help

If you meet the repayment agreement, the creditor will delete the negative account and change it to a positive rating. Make sure you review your report for that change. You should have in your possession the creditor's agreement to correct the credit report. Contact the creditor is there is an error.


Keeping Your Credit Report Clean

Make it a habit to check your report regularly to protect yourself from credit abuse and fraud. You may consider credit monitoring and protection services to watch and protect your credit report: