You’ve seen the TV commercials promising credit report repair legally, excitedly telling you that they can repair your credit report so you can buy that new car you want or move into that new house you want to have built. Well, buyer beware, you are hearing one of the biggest scams happening in this day and age. Most of these people will take your money and disappear. More to the point, anything these companies offer to do for you, if it is legal, you can do it yourself.
So how do I repair my credit report, you ask? The first thing that you need to do is request a copy of your credit report from each of the three major credit reporting agencies: Experian, Equifax and TransUnion. These companies are required by law to supply you a copy of your credit report each year free of charge. Once you receive your report, you need to look over it and determine if there are any incorrect entries, and if so, call the company and contest the entry.
The next step to take toward credit report repair will be your sole responsibility for the accurate debts that are on your credit repair. To repair your credit report that shows negative, accurate information, you must take it upon yourself to call the companies that you are in debt with and work out some kind of payment arrangement to get those debts paid off. Negative credit history can stay on your credit report up to seven years, with a bankruptcy staying on your report for ten years. To repair a negative credit report, you must be dedicated to doing so, even if it means passing up that new car you want, or turning down a high interest loan that could put bucks in your pocket right now.
To some people, the thought of instant credit report repair seems to be just what they want. Have you ever heard the saying “if it sounds too good to be true, it must be”? That saying applies to the advertising you hear from these credit report repair companies. Heed your inner feelings about it and make a pact with yourself to repair your credit report yourself, legally. As mothers around the world say, “You made the mess, now clean it up.”
Categories: Credit Report Companies , articles
