How to Repair Your Own Credit

Credit report mistakes are common. According to the Federal Trade Commission, two studies found that almost 15% of consumers have an error on at least one of their credit reports. Don’t be discouraged if you find any mistakes; it’s common and could easily be solved!

There are several ways to approach errors on a credit score. One way is to do it yourself; a great option if you’re a great detective, are skilled at documentation, and have the time available. Here is how to get started on improving the accuracy of your credit report.

1. Documentation: Record everything. Keep records of the letters you send, the letters you receive, every phone call, and request return receipts so you know they receive your letters. In an effort to keep all documentation, send copies of any paperwork and keep the originals for yourself.

2. Put it in writing: You can either mail a letter (double-check the address) to dispute each error with each bureau or you could submit them online on their websites. Note: Usually the time it takes for a credit bureau to respond and resolve a dispute is within 30 days.

3. Be clear and concise: Explain your situation clearly and concisely when you dispute something. Give the agencies only the key facts so that they understand the situation. Adding irrelevant information can confuse someone who is looking into your case, especially when they’re learning about your situation for the first time.

Fixing your own credit is always an option and at no extra cost, if you know how to do it.

Too much to deal with right now? Check out our page on credit repair companies if you are hesitant to do it yourself.