Repair Your Credit - The Right Way!

How to Repair a Bad Credit Rating?The Right Way!

If you have a bad credit rating, then you might find that your ability to get financing, loans, and even some jobs is greatly diminished.

Once you have a bad credit rating, it might seem like there's nothing that you can do about it? but you don't have to believe that. It's not as difficult as you might think to get by with a bad credit rating; with a little work and time you can even repair it! Of course, before you do that it's important to realize exactly what a credit rating is.

Every time a lender or other creditor makes a report concerning your payment history to them, this report affects your credit score.

Your credit score is a numerical indication of the positive and negative reports that you've received from creditors and lenders; if the number is high then you have a good credit rating, and if it's low then you have a bad credit rating.

Basic credit repair

Get organized! Make a folder for all your correspondence offline and online. You will have to do some snail mailing but in most cases you can work your repair online.

In the U.S. a 630 rating will qualify you for a mortgage. You can still get credit with a lower score but not at a premium interest rate.

The important thing to do is obtain your credit report and study it. Mark all the negative items.

Most unsecured credit, mostly credit cards, can stay on your report for 7 years. If you find any over that, write to the credit bureau and ask them to remove it. They are required by law to research and report back within 30 days.

If they don't, you can threaten them with a letter to the Better Business Bureau or

Federal Trade Commission.

Find any other negative items and determine they are correct. If not, write the bureau and tell them its not your debt.

Even if you aren't sure, ask the credit bureaus to investigate. Many times, they will not be able to verify the debt because the credit card company, auto loan company or other creditor won't get back them within 30 days (required by Fair Credit Act).

Copyright 2005 MHG Consulting

Dan is the owner of Repair Your Credit...The Right Way!. For the contact information on credit bureaus as well as samples of letters to send to them, go to: http://www.repair-credit-right.com

---

The Art of Stoozing to Make Money from Credit Cards

Make Money from StoozingStoozing, this is a sophisticated method of... Read More

How To Read Your Credit Report

The Fair and Accurate Credit Transactions Act, signed into law... Read More

Credit Card Balance Transfers Can Help You Stop Putting Money Down The Drain

As you probably know, interest rates are at all time... Read More

How To Protect Yourself Against Credit Card Fraud

In the high tech world of today, credit card fraud... Read More

4 Steps to Creating Good Credit

As a consumer you've learned the importance of establishing a... Read More

How to Deal with Hire Purchase Debt

WHAT IS HIRE PURCHASE/CONDITIONAL SALE?Although people often talk about "buying... Read More

The Hazards Of Your First Credit Card

You probably don't need me to tell you credit cards... Read More

Choosing the Best Low Interest Credit Card

With so many low interest credit cards on offer, how... Read More

7 Ways To Squash Identity Theft

It is the scourge of our age: identity theft. Thieves... Read More

Defeating Credit Card Debt With Self Control

Credit card debt is a major social problem in some... Read More

What Should I Do If I?ve Become a Victim of Identity Theft?

Identity thieves take advantage of everyday opportunities to discover your... Read More

How Does a Creditor Determine Whether to Grant You Credit?

Credit 101How does a creditor determine whether to grant you... Read More

10 Tips To Prevent Credit Card Fraud

Imagine opening your credit card statement one morning and discovering... Read More

What Does Your Credit Say About You?

A credit report is more than just a snapshot of... Read More

Compare Credit Card Offers and Reward Yourself

Here's a simple system on how to pay zero interest... Read More

Credit cards

If gold medals were awarded for marketing consistency, the credit... Read More

Credit Card Dirty Tricks

There are many of us that have been badly stung... Read More

Fair Credit Reporting Act: What You Should Know About It?

The Federal Fair Credit Reporting Act (FCRA) is designated to... Read More

Free Credit Report ? Watch Out for Scams

Many people may still not be aware of an amendment... Read More

FREE Credit Report Offer - Careful, It Might Carry Hidden Charges

FREE credit checks or free credit reports. What are they... Read More

Useful Tips on Using Credit Cards

Here are some useful tips on using credit cards. Whether... Read More

SuperCharged Secret 1 of 5 - Credit Card Utopia

I AM THE CONSUMER. AND I HAVE LOW-RATE SUPER-POWERS!Note: The... Read More

I?ve Heard About FACTA; What Does It mean?

What FACTA means is that if you, as an individual,... Read More

Why Consumers Need a Nationwide Credit Freeze NOW

What do a shoe retailer, an online discount broker, and... Read More

Identity Theft - How to Protect Yourself

"Like the tan? I got tons of sun on that... Read More

Do You Know Whats On Your Credit Report ?

It is important to know your credit rating for a... Read More

How to Dispute Credit Report Errors

Your credit report--a type of consumer report--contains information about where... Read More

Credit Report ? Check Yours Regularly - and for Free

In the twenty-first century, there are few documents that have... Read More

Credit Cards Can Help You Get Out Of Debt

Your credit rating / credit score is based upon how... Read More

Free Credit Report - Really

2005 marks the year that consumers will be able to... Read More

Is it Safe to Use Online Car Finance?

Online car finance is convenient. You can apply over the... Read More

Credit Card Balance Transfers Explained

What is a balance transfer ? A balance transfer can... Read More

The Ghost of Expected Surprises

Here, Cratchet, what do you think you're doing?Uh, er, leaving... Read More