Repairing Your Credit:

Your personal credit history is one of the most important assets you posses. How you manage your credit and your finances can make all the difference in world when it comes to your lifestyle and quality of life, and your ability improve on both. In spite of this fact, most people have less than perfect credit. Even if you have meticulously tried to meet all of your obligations on time, circumstances beyond your control can impact your credit history. The U S Postal Service alone is responsible for millions of late and missed payment entries on American's credit reports. Many things happen to people that can abruptly and drastically change their financial situation. In addition, very many people get in over their head and either just give up and quit paying everybody, or file for bankruptcy. Then there are disputes with creditors for endless reasons and an incredible amount of outright mistakes and errors in reporting by creditors. When you add all of these things up, the vast majority of people in this country have derogatory entries of some type on their credit reports. Many of these items go undetected until the person applies for credit, especially for a big ticket item like a car or home, and they are informed of various entries that were either completely unknown, or were taken care of long ago. If left unattended, general negative credit items will remain on a person's report for 7 years. Bankruptcies and foreclosures remain for 10 years.

While not particularly easy, it is possible to have many of the negative entries on your credit report removed or changed. In most cases however, doing so requires contacting each of the 3 national credit repositories, obtaining a copy of your credit report, and filing a written complaint or response concerning the items you want removed or changed. The credit repository is then required to verify the validity of the entry with the reporting creditor. If the creditor admits to the error, can't substantiate the report, or fails to respond in a timely manner, the entry must be removed from your report. Under current law, once an item has been removed, it cannot be added back simply because the creditor is continuing to report it (in error). There are many companies and individuals who will perform this service for you. Usually not cheaply. Some charge a flat fee up front. Some charge an initial retainer and then charge a fee for each item removed, etc. Some of these people do a good job, and some don't. You can also do it yourself. There is software and many books available on "Credit Repair" that provide standard forms, excuse letters and procedures to follow, or you can simply contact the agencies listed below, follow their instructions and do it all yourself for practically nothing. For your convenience, we have listed the 3 national credit repositories and their contact information below: