How to Start Repairing Credit
March 28, 2010 by admin
Filed under Christian Debt Solutions
It was only about a week ago the first day of spring rolled in and if you are like me, you thought about Spring cleaning. Wives, I tell you what there is no better time than the present to start repairing your credit. If you have been overwhelmed in the area of finances, let me assure you once you start repairing your credit, it can become fun.
Below are the steps you should take to start repairing your credit:
1) Before you do anything, order a copy of your credit report. ONLY ONE from one of the credit bureaus. Sooo many people have gotten hooked on ordering all three at once from Annualcreditreport.com that they don’t realize now if they needed to order a second one they would have to pay for it.
2) Do not get too ansy because it will take several weeks before you receive it. Once you receive your credit report, you want to go over it with a fine tooth comb. Types of errors you are looking are outdated information, information that is not yours, wrong addresses and mind you make sure you check the social security number and make sure it is yours. Prime example — when I met my husband, the credit bureaus had his and his older brother’s credit on each others credit report. Their social security numbers were one number different and we spent a lot of time disputing that information. SO CHECK EVERYTHING.
3) Dispute any incorrect information on the forms provided or you can write a letter explaining the incorrect items. When you dispute information be very thorough and explain why it is wrong. Before you send this form back, make several copies for your file. Furthermore, when you send it back, you send it certified receipt. This allows you to get a signature card back showing you the date it was received and who signed for it. You always want to have PROOF they received it. The credit bureau has 30 days to make the changes and send you a new report.
4) Upon receiving the corrected credit report, formulate a plan for paying off and reducing debt. Put the credit card debt in order from smallest to largest. Knowing that people need some encouragement, start with the smallest outstanding debt and pay it off.
CAUTION: Do not dispute all the incorrect information all at once, it comes off as suspicious. Do two or three items at a time if you have found numerous errors.