Like it or not, our credit is the equivalent of our financial reputation. Lenders, employers, landlords, and even insurance companies check your credit report.
Maybe a lender or employer mentioned your credit score is less than pretty. You may think your only choice is hiring a professional credit repair service. However, you can repair your credit yourself.
Need help with your credit repair? We’ve got you covered. Here are the 4 steps you should follow to improve your credit score in no time.
1. Request Your Credit Reports
According to federal regulation, all consumers have the right to request a copy of their credit report every 12 months from the 3 major credit bureaus. Experian, Equifax, and Transunion are the major credit reporting agencies that record the information provided by lenders and other institutions.
It’s important to request a copy of each report to get a clear idea of where you stand. Keep in mind that not all lenders inform every agency so your information may vary on a credit bureau basis.
2. Check Your Reports for Any Inaccurate Information
After getting a copy of your credit reports, you should look for any inaccurate information. It’s important to note that any negative information can stay in your credit report between 7 to 10 years depending on the type of information. You should also make a list of the negative information that has been in your credit report for this long.
3. Dispute Any Incorrect Information
Fixing bad credit is as easy as removing negative information from your credit reports. To remove this information, you’ll have to mail a dispute letter to the credit report detailing the negative information. Once the credit bureau receives it, they will respond to your inquiry and contact the lender or company to verify the information.
If the company isn’t able to confirm the details, the credit bureau will remove the information from your report. The removal of negative information will improve your score.
Disputing credit report information is a complex process. You may consider consulting an expert who can help with your credit repair. It’s vital to search online for the best companies and read consumer experiences such as Lexington Law reviews 2019.
4. Improve Your Financial Habits
Doing your credit clean up may improve your credit score. However, it’s important to work on your financial habits for long term results.
Simple changes such as committing to making your payments on time and lowering your debt can do wonders for your credit score. Don’t settle for a quick fix and improve your finances to achieve long term goals such as buying a home or car.
Can DIY Credit Repair Improve Your Scores?
Some consumers are hesitant about trying DIY credit repair. However, removing inaccurate information from your reports and improving your financial habits can skyrocket your credit score. While you may do it yourself, sometimes it’s too complicated to dispute inaccurate information on your own.
You should consider consulting with an expert who can help with your credit repair. It’s important to research and consult the best companies in the market. Take a look at their reviews and packages to find the best option for your situation.
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