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Do it Yourself Credit Repair

Repairing your credit is something you can do yourself. A lot of people don’t realize that, though, and they end up getting conned by companies that say they can fix your credit and remove negative items. Don’t fall for that scam. If the negative item on your credit report is legitimate and verifiable, you can’t get it removed, and neither can some company. You’ll have to wait until it drops off on its own – usually in seven to ten years. While you’re waiting, there are things you can do to start improving your credit score.

Credit Repair and Debt Management Aren’t the Same

If you’re up to your eyeballs in debt and you can’t make any headway, it might be time to get out. Don’t go to a credit repair company for that. Find a debt management company, instead. These companies don’t claim to remove negative items from your credit report. They consult with your creditors to get your payments and interest rates reduced. You then pay the company a set amount each month, and the company pays your creditors. It’s hard on your credit score, but so are late payments, unpaid bills, collections, and judgments. Like bankruptcy, debt management can help you make a new start.

Fix Your Credit by Using It
When you want to improve your credit, whether you’ve gone through a debt management company or not, you have to show that you can pay your bills on time and be responsible. One of the best ways to do that is to start paying all of your bills on time or early. Don’t wait until the last minute to mail that credit card payment, car loan payment, or mortgage payment. Send it out in plenty of time. If the mail service is a little slow, it won’t be late, won’t hurt your credit, and won’t cost you anything in late fees. Use your credit sparingly, though. Don’t run up big bills so you can show how responsible you are. It doesn’t work that way. Buy something small that you can afford. Pay the bill on time when it comes in. Repeat.

Check Those Credit Reports!
One thing a lot of people overlook when they’re trying to repair their credit is what’s already been said about them. Check your credit report and see what’s on there. There may be some negative things – few people have perfect credit. Here’s the key, though: make sure all of the negative things on your credit legitimately belong to you. If there’s something on there that really isn’t yours, whether it’s negative or not, you should have it removed. Contact the credit bureau, tell them about the item in question, and ask them to investigate it.

Within 30 days, they’ll let you know the result of their investigation. If they can’t prove the item belongs to you, they’ll have to remove it. If they refuse to remove it, they believe it belongs to you, and you disagree, write a letter to the bureau and ask that it be included in your file. That way, future lenders will see that you’ve disputed something and they can judge for themselves

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