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Taking Steps To Repair Bad Credit
By: Ken Snow
Repairing your bad credit is never easy, but there are solutions that can help
you get out of debt. Everyone has bills and sometimes bills can get out of
control. Because paying your bills is an ongoing process, the best possible
solution when you are in trouble is by asking for help and working to get your
debt under control.
Since new laws make it difficult for consumers to restore their credit rating,
it might seem impossible to get out of trouble. However, under the law it is
possible to get all three of your credit reports free of charge.
If you have a poor credit history, you should request copies of your credit
reports to be certain that there are no mistakes or false charges. If you do
find erroneous claims on your credit report the first thing you should do is
file a dispute against the claims. This will likely delay your payments and if
you are found not to be responsible for the debt it can free you from it all
together.
Contact the agencies as soon as possible if you notice any invalid accounts or
incorrect claims that are not your responsibility. For your convenience,
Experian, TransUnion, and Equifax all have dispute hot lines available.
Disputing can be one step toward repairing your credit. Most of the information
listed on credit reports is from banks, credit card companies, utilities
providers, legal judgments, etc. Typically, that information remains on your
credit report for at least 7 years. Positive ratings often remain on your report
for 10 years. Tax liens will remain on your credit report for 15 years and
bankruptcies will remain on your credit report for 10 years. That is why it is
important to dispute any credit claims that are on your report that are not
yours.
The bureaus will investigate, and if they find in your favor, the debts will be
erased from your credit report. For this reason, it is very important to keep
track of your credit report, and view it on a regular basis. You also have the
ability to view your credit score from the reports so that you can see how it
has been affected by your report.
If you find claims against you that you are responsible for, but don’t know how
to fix, you should educate yourself.
Do not believe it when credit repair companies assert that they can remove items
from your credit report and lower your monthly payments. The government watches
most of these agencies and the government has been given reason to believe that
some of these agencies have misled customers.
Most of these companies are only looking to cheat you, all the while putting you
at risk of further damaging your credit. If you need help or support with your
credit then it is easy and sensible to consult counselors at the National
Foundation for Credit Counseling. The representatives are highly trained in
helping consumers find a legal way to improve their credit, and get out of debt,
while keeping the creditors at bay.
Make sure that you know your rights if you are looking for ways to repair your
bad credit. It is still possible to overcome bad credit, and build good credit
again.
You are not alone, and there are places that you can turn. The Consumer Response
Center is another great resource for learning about your rights. There are some
cases where you have more rights than you might realize. Victims of Identity
Theft or Military Personnel that have had their identities stolen often have
more rights than people who simply fail to pay their bills.
Knowing your rights and where to turn for help is the first step in repairing
your bad credit.
About the Author:
To learn more about credit repair visit http://www.creditrepairtips.info
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