May 2nd

Uncover How Do it Yourself Credit Repair Can Make it Easier to Improve Your Credit Score

If you’ve recently been denied credit or have gotten credit but at high rates of interest, it’s time to look at your credit report to see in what ways you’ll be able to raise your credit score. Removing negative items from your credit report will increase your credit score. This is the primary focus of credit repair. Adding positive items to your credit report will also help your credit score. It’s time to do something to boost your credit score.

Your credit score is one of the primary factors creditors use when evaluating your request for credit. The information on your credit report is used to calculate your credit score. If your credit score is under 600 you might want to actively pursue credit repair. And, even if your credit score is better, you still should try to look at your credit report periodically to ensure the data in it is correct.

So, the first thing you need to do is get a copy of your credit report. The federal government has required the three credit bureaus (TransUnion, Equifax and Experian) to provide you with a free copy of your credit report annually. The credit bureaus established the web site annualcreditreport.com to allow you to get your online credit report so as to comply with the government mandate.

Here is what you can find on your credit report

  • Credit accounts that you’ve got
  • Current state of your accounts
  • Inquiries made by creditors whenever you apply for credit
  • Overdue debt, collections, and public records including bankruptcies, foreclosures, wage garnishments, liens and judgments
  • Personal identification details

Because of the massive nature of this data collection, with 4.5 billion data items harvested per month, another person’s information may turn up on your credit report. An analysis by the National Association of State Public Interest Research Groups found that 79% of credit reports contained errors and 25% of reports contained errors that were so severe that people may very well be refused credit.

Credit repair involves understanding the rules of the Fair Credit Reporting Act (FCRA) and apply the rights you have to get negative items removed from your credit report. Lots of people have discovered that do it yourself credit repair is easy and can yield rapid results. But, you will need to know what to do and how to keep precise records of all your interactions with creditors and the credit bureaus.

While do it yourself credit repair can help get rid of negative items, you need to do more. You should also concentrate on making on-time payments on your current bills. You can often make bill paying less difficult by reducing overall rates of interest with a consolidation loan. This involves moving credit card debt to other, lower interest rate loans.

Therefore, start today by obtaining a free credit report. Look at your credit report to see what negative items could possibly be inaccurate and should be removed then take action with do it yourself credit repair to clean up your credit. Then consider a consolidation loan to help slash your interest payments and make paying off your debt less difficult. You can do this.

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