Introduction
Credit repair refers to the process of removal of bad items from a consumer credit report. There can be multiple reasons that a person is having a bad credit summary report. The simplest and reliable way to get repair your bad credit is through credit of letter. Although it is a time taking process but in some cases the process of repairing bad credit report takes less time. For example, in case of when your credit of summary report is having information that you are not aware of.In today’s world, it’s not impossible but it is difficult to live with bad credits scores. Especially, at times when you are going to take loan or credit cards from banks. The rapid increase in trend of looking at credit summary report compels youto have a good score in it.
Step 1
People usually believe that credit can only get repaired with the help of any credit repair company but this is not only the way. One can repair his credit report by writing a simple credit of letter on his own by following few steps.
- The first thing, you need to do is to ask for free credit summary reports from credit bureaus. In many countries, there is a law of issuing free additional credit summary reports on annual basis if you are caught to any credit fraud or wanted to start a business, etc. But if you have already availed your free credit report then ask for it from credit bureaus for fee.
Step 2
- Your credit report will be containing your personal information, history of all your accounts and inquiries made to your credit reports. After getting your credit reports, you need to better identify and analyze your bad credits i.e. incorrect information, payments that are reported lately, accounts that are over the credit limit, past due accounts, etc.
Step 3
The third step involves writing a credit of letter to the credit bureaus. Filing a repair credit through credit of letter and sending it by post or by email have many advantages over reporting through online and phone. It helps you to send your credit repair disputes with a proof, keeping a copy of your credit of dispute letter for your records and requesting for a return receipt will benefit you in an hour of need.
- Credit bureaus had to entertain you credit of letter within 35-40 days. Once the dispute you have filed is investigated and it figures out to be correct then the credit bureau will update your credit report by changing it.
Comments
- Once you get cleared with your negative items on credit report then you must take care of good credit scores in future. Good credit scores can be earned by making timely payments, your credit cards and reports should get reported on time, avoid closing of a credit card when it has a balance, consumer credit counseling would be the better option when your debts are overwhelmed and keep on adding positive information to your credit report as it will help you to keep away from credit repair process. As credit repair process is also a reason for bad scores therefore try to adopt these measures to avoid it.
