If your credit is not so good and you need to have it repaired, you have many options that you can use. You can get help from credit repair companies, but their service is at a cost. It is important to note that some of these companies deliver good results, but many do not. You can also seek help from a credit attorney or take the do-it-yourself route.
Credit is the financial power you have that lets you borrow money or access goods or services now with the promise that you will pay later.
The work to improve or repair your credit helps ensure you will qualify for loans at favorable terms when you need them.
If you are persistent and organized, you can do just as well as any best credit repair company or credit attorney available for hire.
The steps below take you through the most important options to do credit repair yourself, including ways to remove errors and improve your credit score.
1. Get copies of all your credit reports. Equifax, Experian, and TransUnion are the big three credit reporting firms. You should obtain all three credit reports.
2. Find any errors. Once you obtain your credit reports, look for any negative information, even if it is true. Nearly everyone has at least one error on his or her credit report.
3. Dispute all the negative items. While it will not do any good to dispute correct items that still carry a balance, everything else is fair game. All items that have a balance will reappear the following month anyway.
4. Don’t give up. As previously mentioned, you need to be persistent and organized to succeed when you do credit repair. You must send your letters, make follow up, and document everything. Save copies of all your correspondences and their responses. This information might come in handy at a later date.
5. Realize the truth of the situation. Credit bureaus make money by selling credit reports, not by taking the time to respond to your inquiries. The last thing they want to do is spend time and resources on you. If you’re a pain in the neck, you might eventually get what you want.
6. Don’t be afraid to use the court system. Taking the credit bureaus to court and suing them can sometimes be the best solution.
Do-it-yourself credit repair is something that anyone can accomplish. As you can see, there is no need to hire a credit attorney or a credit repair company. It is pretty simple and effective. It can take months to see any real improvement, but it is much faster than just waiting out the many years it takes for the items to fall off the list naturally. Contact H&S Accounting & Tax Services if you need help finding templates and other ressources.
Boost your credit and better your life. You will be happy you did!
You may also call us to discuss any tax problem , payroll reporting or business accounting issues you may have and we’ll let you know how we can help you.