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Do It Yourself Credit Repair

Credit repair is one field where you can do the job yourself, if you're willing to put the time and effort into learning what needs to be done. Do it yourself credit repair might take time, but in the end it will save you money. Basically, and inaccurate information on your credit report can be disputed, for the cost of a stamp. (Or even free online) So you won't need the help of any expensive credit repair service. It's as simple as knuckling down and digging in to the credit repair agencies to update your report.

Disputing inaccurate information on your credit report is easy.

1. Identify the incorrect information
2. Send a dispute to the three credit reporting agencies outlining why the data is inaccurate
3. Wait for a response
4. Repeat

Sometimes your dispute will have an immediate impact and will result in the item being deleted from your credit report. Otherwise it might take several disputes. Either way, there's no magic formula for making sure your credit report gets updated. Either you, or someone you represent, will need to contact the credit reporting agencies and dispute the info.

In order to repair your credit, it helps that the financial situation that was causing you to be late on bills has been fixed. If you have a regular paycheck and have only sporadically been late on your bills, it shouldn't be hard to set a budget that works for you.

Watch out for credit repair scams

Even the Better Business Bureau warns that many credit repair services are scams, and almost anything that a credit repair firm can do for you, you can do yourself.

Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one on page 6. Send your letter by certified mail, return receipt requested, so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures.

If the tip seems simple, it's because it is. You literally only need to make these disputes in order to get inaccurate info removed from your credit reports. No one else can, or should, do these disputes for you. In fact, if you hire someone to do the dispute for you, it might actually hurt your chances of having the items removed.

The fair credit reporting acts protects you

Everything you need to know in order to successfully complete do it yourself credit repair is contained in the Fair Credit Reporting Act. All of your rights are outline in clear detail. None of the jargon should be too difficult for the average layperson to understand.

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