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

---

How Creditors Measure Your Credit Rating

Creditors will measure your credit rating based on the following... Read More

Five Reasons to Repair Your Credit Score - You Can Do It Yourself

There are multiple reasons that tell us why we should... Read More

Online Credit Report and Online Credit Reports

Online credit reports are easily accessible to those interested in... Read More

Winning The Credit Game!

Everywhere we go, the word credit can be found, shining... Read More

Credit Cards And Loans - So Many Options - So Little Time

Credit Cards and Loans sounds like just two things, but... Read More

Secured Credit Cards- Consumer Tips

Whether you have no credit or damaged credit, secured credit... Read More

Credit Cards - A Blessing or a Curse?

Owning a credit card can be quite an advantage. Whether... Read More

Identity Theft : They Got Him

His hard earned money? Gone. Creditors on his back everyday.... Read More

Its Your Credit - Take Care of It!

Thanks to the Fair and Accurate Credit Act, American consumers... Read More

Credit Scoring: What You Dont Know Can Hurt You

You've probably heard the term credit scoring. You may have... Read More

The Hazards Of Your First Credit Card

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

Tips for Credit Card Surfers

Moving money from credit card to credit card to take... Read More

How To Choose Your Credit Card Application

The articles and tips provided on this site are intended... Read More

The Truth About Credit

What you might not know about credit.Some people don't know... Read More

Your Credit Card May Be Costing More Than You Think!

Do you know what your credit card is truly costing... Read More

Saving Money: Quick Cash, High Cost

I didn't think it was possible. But it is. Folks,... Read More

Dont Fall For A Scheme When Trying To Rebuild Your Credit History

For people with a spotty credit history or bad credit,... Read More

Improving Your Credit Report

Even if you think you have a wonderful credit report,... Read More

Your Credit Score

Credit scores: all lenders use credit scores to determine interest... Read More

Commercial Collections: Business Finance Booster Shot

Commercial collections: fixture of the new B2B cultureIf you're in... Read More

Credit Verus Debt

Secured and unsecured debt - what's the difference?It's easy to... Read More

Your Credit Rating and How To Check It

There is a lot of confusion surrounding UK credit ratings,... Read More

Identity Theft - How to Protect Yourself

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

What You Need to Know about Debt Negotiation on Credit Cards

Debt negotiation on credit cards is often referred to as... Read More

Addressing Bad Credit Card Debt

Spending HabitsSo you've just got your credit card. The first... Read More

Credit Card Tips

Here are some useful credit card tips for you to... Read More

Learn The Truth About Identity Theft

Identity theft is the fastest growing crime in America, according... Read More

What is on Your Credit Report?

Your credit report is a very important piece of the... Read More

How To Choose A Credit Card

Your credit score may just be a little number, but... Read More

Choosing The Best Credit Card To Apply For

Always shop around to get the best deal when choosing... Read More

It Is In Your Best Interest To Do The Math On Your Credit Card Interest

If you begin foaming at the mouth once a month... Read More

How To Use Your Credit Card For Ultimate Financial Advantage

Using a credit card wisely is an important step in... Read More

Credit Reporting: How Does It Work?

In order to determine a consumer's credit worthiness, creditors and... Read More