The Know How of Credit Repair

If you are contemplating on repairing your credit then you have to first contact each of the three major credit bureaus for a copy of your credit report. Under FCRA you are entitled to receive one free copy of your report every year from each of the three bureaus. However, there are other cases too where you can receive free report. For instance, if your application for credit has been recently turned down then too you can get a report from the reporting agency for free.

If you want to check your report more than once a year then you have to pay around $9 for each report to each of the major reporting agencies. It is advisable that you get a report from each of the credit reporting agency as each of your three credit reports will be different. Your credit reports can include different information as creditors, lenders and different financial institutions with whom you do business do not report your accounts to a single bureau. Thus, by monitoring all three of your credit reports, you can be sure that you are maintaining a healthy credit profile.

Once you receive your credit report from each credit bureau, you must thoroughly go through it to check whether there is any error or not. If you notice any kind of erroneous, false or obsolete information then under the FCRA you can dispute them yourself or hire a firm that specializes in doing this to act on your behalf.

If you decide to dispute the item yourself, then all you have to do is write a letter to the credit bureau from where you pulled of the report and explain to them in writing that why you feel the account is false, inaccurate, not updated or outdated, erroneous or misleading. Be sure to send paper work that supports your claim. It's also a good idea to include a copy of the credit report with the disputed item circled or otherwise marked.

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