5 Easy Ways In Which To Repair Your Credit and Boost Your Score
Keep in mind:
- Nobody can legally eliminate the truthful negative information in your report
- You can correct your credit report for yourself… and not pay a single thing for it
- Avoid working with credit repair firms that make too good to be true promises
How Can You Repair Your Credit On Your Own
Attain All Three Of Your Credit Reports From The Bureaus
Look over your credit report from each of the three credit reporting agencies. Go to AnnualCreditReport.com, looking at the information that’s been reported. Make a note of the incorrect information and work to correct the error.
Deal With Errors On Your Report
If you find inaccurate information, get in touch with the financial institution that reported it. Many times, the reporting institution will address the issue and fix the problem with the credit bureaus. If you notice a large credit card balance for a card you don’t have, you may have had your identity stolen. Dispute this with the issuer, which they will then immediately fix.
Keep track of the correspondence. And, if they don’t address the problems, there are more steps you’ll need to take.
How To Address Accounts That You Didn’t Open
If you notice accounts opened in your name that you didn’t open yourself, you’ve become a victim of Identify Theft. Make sure to file a report with the IdentityTheft.gov website and attain a recovery plan. You’ll be asked to freeze your credit and file a dispute with each credit bureau. Maintain a paper trail.
Make Use Of The Consumer Financial Protection Bureau
If you can’t deal with the financial institution on your own, there are other options at your disposal. You can go to the Consumer Financial Protection Bureau to make a complaint, and a worker will investigate your case. The paper trail is extremely important so share as much information as you can with the CFPB.
Rebuild Your Credit Score
In order to get a good credit score, you must have positive information being reported into your credit file. A credit card is the best way you can do this. Don’t use more than 10% of your utilization amount and pay the balances off in full each month. Continue doing this, and you’ll see an improvement in your credit score.
Attain a secured credit card if you can’t get one another way. A secured card means you give them a deposit, which is your credit limit. This will be reported to the Bureau, and you can increase your credit score.
Keep A Watchful Eye On Your Credit Report and Score
The sooner you learn of a situation with your credit report, the better it’ll be in addressing it. Consider a credit monitoring service of companies such as CreditKarma to watch for problems.