How Do I Fix My Credit?

One of the main financial problems people face today is out of control use of credit and the need to repair their credit rating. Many of us are now realizinging that we have over extended on our credit cards and we need to start the process of cleaning up the mess. Believe it or not, credit repair is not as difficult as you might expect, but it will take some time to accomplish.

So, if you have been asking yourself the question, “How am I going to fix my credit?” here are some guidelines to get you started.

The first step to take is to get a copy of your credit report from any or all of the three major credit reporting agencies. You will need to contact Equifax, Experian and/or TransUnion. The details of these credit reporting agencies can easily be found online and each of them is able to provide a copy of your credit report.

Another option is to go after a free copy of your credit report through www.freecreditreport.com or www.annualcreditreport.com. In line with the FACT Act that was passed by the US Congress in 2001, they will provide a free report to you. A free report might be available through another agency, but the surest way to get a free one is to check out these websites.

If you are really serious in your credit fixing efforts, you may have to skip the freebies. In this case you will want to get copies from all three of the credit report agencies mentioned above. It is interesting to note that creditors don’t have to report to any of the agencies if they don’t want to, but generally will report to one of them.

This means the credit information reported to Equifax, TransUnion and Experian is not identical. All 3 reports contain different information. If you have copies of all three credit reports from the various agencies then you will be in a better position to repair your credit.

As soon as you have these reports take the time to go through them very carefully. You need to check to see if there are any errors in the reported information. For example, if you have paid off and closed an account but it appears on the report as still open, with an unpaid balance, you will want to amend this. Contact the credit bureau so that mistakes can be corrected, especially if you want the credit repairs to be thorough.

In this credit fixing process, be sure to close any lines of credit that you may have used in the past but do not intend to use again. Close accounts with any credit card companies that you do not need. Challenge any transactions on the reports that are in error in any way. Basically, really clean up the reports.

Once you have checked out your credit reports, the next step to take is to decide that you will begin to use credit as responsibly as you possibly can. This might be uncomfortable at first, as you discard old habits, but you can be successful. You can look at using credit in a whole new light. This includes making all payments on time and delaying any purchases that you know you truly can’t afford at the time.

So the answer to your question, “How do I fix my credit?” is generally fairly simple. Take the steps to clean up your reports, pay off your existing balances, and start to use credit in a different way. Doing this not only will your repair your credit but your credit score will improve as well.

Those are the nuts and bolts if you want to attempt credit repair yourself. For a much more detailed guide to alternative solutions to your credit concerns and repair, 37 Days to Clean Credit just might help you out. As with most business dealings, there are strategies and “secrets” that the majority of us have no clue about. You would be astonished. If you really want to be empowered in repairing your credit, I highly recommend you check out it out now.