First Steps in Repairing Your Credit

Repairing your credit can seem like a monumental undertaking but please remember that your credit rating can severely impact your ability to finance automobiles, real estate, secure a job or qualify for preferential rates on car insurance. Many consumers would like to take steps to rehabilitate their credit but do not where to start in the process.

The very first step in repairing your credit is obtaining a copy of your credit report from the three main credit reporting. Federal law requires consumers be able to receive a copy of their credit reports at no charge once a year.

Once you receive your credit reports from the three main bureaus, you must examine each of the reports and determine the accuracy of each item listed on the report. Are there items on the report that do not belong to you? Are credit cards or installment loans listed which have been closed but are still showing as open? Please examine each "credit entry" very carefully to see if they do indeed belong to you and are accurate. If not, then disputing these inaccurate items is the first step in repairing your credit. To effectively remove these items, you must notify the reporting credit bureau with a detailed description of the inaccurate entry and the reason for its inaccuracy. Be prepared to wait 30 days for a response from the credit bureaus.

Every worthwhile journey begins with the very first steps. Don't delay and obtain copies of your credit report to put yourself back on firm financial footing.

Source by Dave Pippin

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