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Bad Credit Report Repair - How to Repair a Bad Credit Report

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Having good credit is so important to everyday living in modern society. The problem is that it is so easy to mess up. Bad credit can be created in just two months, but a bad credit fix repair can take years. Hundreds of companies are now in business that tell you they can fix a bad credit report, but the Federal Trade Commission recommends you repair credit history yourself. If you follow a few guidelines this process is not as difficult as it sounds. It just takes time. If you feel you must use a bad credit credit repair service, watch for these signs that it might be a scam:

• They want you to pay before services are rendered.
• They don’t tell you your rights under the Credit Repair Organizations Act.
• They don’t want you to contact the three major credit bureaus yourself.
• They say they can get rid of current and accurate negative credit information.
• They recommend you get a new credit identity.
• They ask you to get a credit repair credit card.

To implement a bad credit report repair on your own, follow these simple steps:

1. Get copies of your three credit reports. A credit fix repair report can be obtained once per year free of charge by annualcreditreport.com.

2. Check the reports for any items in error. If there are any errors report them in writing to the credit bureau and the company that reported the item. Include copies of any supporting evidence.

3. Stop using credit. Destroy and cancel all credit cards. Do not take out any new loans.

4. Itemize all existing debts with balances and interest rates. Arrange the list with the highest interest rate on top.

5. Make minimum monthly payments on all items on the list except the top item. Pay as much as you possibly can every month on the debt with the highest interest until it is paid off.

6. Once the top item on your list is paid off, repeat the process until you are debt-free.

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