How to Repair Damaged Credit

What most people do not know is that you are allowed one free credit report from all three credit bureaus a year. This is provided at no cost, it is not a paid or free trial offer. You can request a copy or view your credit report online with all three companies, Experian, TransUnion and Equifax.

Once you have requested or viewed your most recent credit report. You can either print a copy, if you viewed your report online, or you can have a copied mailed to your current mailing address. Taking the time to print or have a copied mailed to you will be beneficial when you begin the process of repairing unwanted or damaged credit.


Now that you have viewed, printed or received your most recent credit report. You can begin to evaluate the creditors and debt that is being reported by all three major credit bureaus.


The reason that obtaining your credit reports is so important is because there is a possibility that some information is outdated, or has been reported by the creditor incorrectly.

The other reason that requesting a credit report is so important is because many people have found themselves victims of Identity Theft. This is when an individual illegally obtains personal information, and uses that information to receive goods or services illegally.

You now have all your accumulated bills and are comparing the information of current and outdated records against your credit report. If you find discrepancies, and some of the information is not accurate, or a balance is possibly incorrect. There are certain actions that you can take with the three major Credit Bureaus that will begin an investigation.

The Credit Bureaus will process the information you have supplied them and the creditor has thirty days to reply to the recorded credit selection that is being challenged.

This is the first step that needs to be taken when attempting to begin repairing your credit.

It is imperative that you know what is on your credit report. So, when you do begin calling creditors to make payment arrangements or payment settlements to repair damaged credit, you have current information that has been reported by creditors’ right in front of you for reference.

You want to know what you are paying and what amount. Anyone can give you a ball park figure, but having the most recent information insures that the settlement or payment arrangement is up-to-date, and accurate.

There is a good chance that just by challenging out of date information from your credit report, and contacting creditors that have not reported up-to-date information, can benefit you, and your credit score. Try to maintain a realistic payment plan. If you speak with a creditor, and the figure they suggest that you pay is unrealistic. Let them know. It is better to make some form of payment than ignoring the debt and pretending that it is not real. Be honest with the creditors and if you have to, request to speak with a supervisor. Most creditors or collection agencies are willing to work with you. These are just a few essential steps to repairing damaged credit.

In today's Economy, more and more people have considered the option to file bankruptcy. Are

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