Repair Your Own Credit!
Although there are a million and one services out there, especially on the Internet, claiming to be able to repair your credit for you, in reality you can do most of this yourself. Believe it or not, there are strong consumer protections created by law that allow the average person to repair their own credit. The services may be useful for people that are not interested in doing the work themselves, but if you are willing to do so, you can in fact repair your own credit for free.
The real catch is just a matter of education. Just as many people prefer to take their car to a mechanic because they are not interested in learning how to repair it themselves; so too do many people turn to paid services to repair their credit. However, credit repair services do cost money, so if you are in the position of having more free time than free money available to you, doing it yourself might be the better option.
Admittedly, learning how credit and credit reporting works can be rather boring and tedious, but it can also save you a decent amount of money. Through just a simple search on the Internet, you can find an enormous amount of resources that can walk you through the process and detail what options are available to you. There are certainly some options that require professional assistance, such as negotiating debt settlements or any kind of legal filing, like a bankruptcy. Nevertheless, basic free credit repair, just to improve your FICO scores is easy enough.
Further, doing your own free credit repair allows you to avoid being scammed. The sad fact of the matter is, many services offering basic credit repair can only really do the same things you can do yourself. Being aware of this, they will often ask you to pay their fees up front and usually in cash, with no guarantee as to what they will actually do. Often, after collecting their fee, they will ask you to review your credit report for errors. After doing so they will contest these errors with the credit reporting agencies and if it is determined that this was an error the item will be removed from your credit report. This is the entire process, all they will do for you.
You can do this exact same thing yourself. Go to the Annual Credit Report website (www.annualcreditreport.com) and order a copy of your credit report from each of the “Big Three” credit bureaus: Equifax, Experian, and TransUnion. You are legally entitled to a free copy of your credit report each year. After this, review the reports for errors. If you find any, you can go to the credit reporting agency’s website and there will be an option available to contest errors. Just follow the procedure and you have done everything that some of the credit repair companies will charge you to do.
Becoming a true expert in credit and knowing all your options takes a lot of time and energy, however just doing basic free credit repair is simple and does not require professional assistance. If your current credit scores are causing a significant problem, then chances are you are not in a position to just throw money away on simple things that you can do yourself. Little things like contesting errors on your credit report should not cost you a penny.
Wendy Polisi is the founder of Credit Repair College, a weekly video training series that empowers people to learn Credit Restoration so that they can take control of their financial future. For more information on <a rel=”nofollow” target=”_blank” href=”““>http://www.creditrepaircollege.com””> how to fix credit, please visit her on the web.
Article Source:http://www.articlesbase.com/credit-articles/repair-your-own-credit-1271048.html
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