Notes: Time and time again, you see the ads for "free credit repair". Well, do you really think someone is going to repair your credit for "free"? Also, did you know that anything someone else can do to repair your credit, you can do yourself? It's true. You can do everything necessary to update or remove outdated, inaccurate, or fraudulent information from your credit history.
There are several steps involved in correcting credit errors. 1). Order your credit file each credit bureau (Experian, Equifax, and Transunion), not through a re-seller. Make sure you go directly to their respective websites (Experian.com, Equifax.com, Transunion.com) and pull your file from each one as they do not share information and your account information will likely differ from bureau to bureau.
2) Check all of the accounts listed for accuracy and errors. Are all the accounts yours? Have any accounts been closed that are still being reported open? What about balances.are they correct? What about the payment history? Do you have any paid collections that still show an owed balance? These are all things that can be disputed easily.
3) After you have highlighted everything that needs to be corrected on EACH credit report, you can begin the dispute process. You can start this process online, at their respective websites. Normally you will find a "dispute information" link somewhere within your account, while you are viewing your report. Disputed information that can't be verified MUST be removed, by law, within 30 days.
4) Accurate information, even if it is negative information, can't be removed if it is verified as such. However some people utilize a loop hole that allows some negative information to be removed: If the creditor simply fails to respond to the dispute within the time allotted, the account will be completely deleted from your credit file.
5) Finally, the best way to build and repair bad credit is to obtain credit! Use credit wisely, and try to stay below about 35% of your available balance. Using too much credit raises a red flag. But if you consistently have high available balances and pay what you owe on time, you will get a higher rating.
The credit monitoring and repair task is tedious. It takes a while to see incorrect information being removed. It takes even longer to see your credit scores start to rise. Don't expect amazing results overnight. Just remember that you can do for yourself what any company will do for you (and in probably less time since you only have to worry about you.not hundreds of other clients). If you have plans for large purchases down the road, such as buy a house, or car, you need to act now. Make sure a lender will view you as credit worthy when the time comes.
Home Buyer Education:
Buying a Manufactured Home
DOWN PAYMENT SOLUTIONS™
Other Important Links for down payment assistance and first time home buyers:
Home Buyer Grants By State:
Alabama - Alaska - Arizona - Arkansas - California - Colorado - Connecticut - Delaware - Florida - Georgia - Hawaii - Idaho - Illinois - Indiana - Iowa - Kansas - Kentucky - Louisiana - Maine - Maryland - Massachusetts - Michigan - Minnesota - Mississippi - Missouri - Montana - Nebraska - Nevada - New Hampshire - New Jersey - New Mexico - New York - North Carolina - North Dakota - Ohio - Oklahoma - Oregon - Pennsylvania - Rhode Island - South Carolina - South Dakota - Tennessee - Texas - Utah - Vermont - Virginia - Washington - DC - West Virginia - Wisconsin - Wyoming