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Successful Credit Repair

By Janet Lacey
Published: Friday, October 30th, 2009

Today, the entire country runs on credit. It is of extreme importance to have a great credit score and history. Your credit score and history are what will determine whether you get a particular credit or not. Thus, ensuring you have a perfect credit score is a very importance. The process of ensuring a high credit score is known as credit repair. Any creditor will decide whether you are eligible for a credit or not based on your credit history. He also decides the rate of interest of any credit with the same information.

Successful credit repair starts from the most basic step, your credit report. Your credit report has all the information a creditor would need to help him decide. It has your basic identifying information. This includes your name, driver’s license number, Social Security Number and any addresses you might have or are living in. The next part would be all the credit you have ever had. It includes every detail including the payment details including how punctual you have been. This will include all your credits including credit cards, loans or mortgages. You should therefore, be regular in checking your credit report. Credit reports are provided by there main agencies in the United States. These include Experian, Equifax and TransUnion.

A federal law states that each of these agencies has to provide you with a free copy of your credit report every year. You should order them out regularly and keep a close tab on your credit history. Always go through the government service while ordering free reports. Approaching the agency directly might cost you. Once you get the credit report, check it carefully. If there are entries you do not concur with and want an investigation into, you should raise a dispute.

There mainly three options once you discover an erroneous entry on your credit report. You can wait for it to fall off your report naturally. This would take a period of seven years. This is not viable option. More often than not these errors are made by the bureau themselves. You should not be paying for their mistakes. While you wait for the seven years, your credit score will be ruined and moreover, by some one else’s mistake. The second options would be to raise a dispute yourself. This is a process that works most of the time. However, it takes a lot out of the common man.

In order to raise a dispute, you first have to send a copy of the letter to the agency pointing out its mistake and wait for it to start its investigation. The process is actually long winded and not as simple as it seems on the paper. It is time consuming and involves a lot of paper work and bureaucratic work. The common man will not know the ins and outs of the system as well as a professional credit repair agent. This is the third option. Hire a credit repair agency. These agencies are well experienced in this business. They will have spent a long time in the business and know the ins and outs of the entire process. They charge reasonable rates and are affordable. But the most important factor is their efficiency. They help you clean your history up very soon.

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