Self Help: Fix Bad Credit and Repair Your Credit Score
A bad credit score is no fun, of course, but fortunately there is something you can do to change it. Of course, no one likes the idea of spending hundreds if not thousands of dollars to have a credit repair service do the fixing for them. Well, guess what. You don’t have to! It is something you can do all by yourself. In fact, self-help to repair your credit score is what the Federal Trade Commission strongly recommends on their website, www.ftc.gov.
If you have access to the internet, you can repair your own credit All you need to do is get a copy of your credit report and review it to see what items on it are not reporting accurately (and may well be shocked to learn just how many things are reporting inaccurately on your credit report, drawing your score down). I know a credit report can be hard to understand, but if you’re not able to interpret it on your own, just ask your loan officer for a little assistance. S/he reads credit reports on a regular basis and should be able to help you understand it pretty easily.
Once you have identified which items you need to dispute, the next thing to do is to create the dispute letters. There are many, many templates you can find for a sample credit letter on the web. Many of them are fine and can easily be tailored to the disputes you want to make. The FTC itself gives some good sample letters you can use, but there are scads of just as good ones available too.
Next step in the self-help process of repairing a bad credit score: sign, stamp, and mail out those dispute letters. The process is really quite simple! Don’t be fooled by the unfamiliar terms used in credit reports. This is not a field that is exclusively for so-called professionals any more. You may need a little help from your loan officer in understanding the code, but don’t let that hinder you. Empower yourself! Improve your credit score! Take charge of your financial freedom, and begin by helping yourself repair your credit score.
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