Credit Repair: Is it Possible?
A positive credit history is the key to obtaining any type of credit, and having a poor credit report will make it unlikely for you to obtain credit at all. A person’s credit history is used to determine whether or not someone meets a credit company’s qualifications, and the better your credit history, the more likely you will obtain credit. The bills people pay, and the timeliness in which they pay them are all added to your credit report.
Repairing Your Credit
Repairing your credit report can be a long and tricky task to complete. There are a number of credit repair companies that you could go to for help, or you could just work on repairing your credit on your own. A credit repair company will complete a lot of tasks that you would have to devote a lot of time to on your own, but it’s nothing you couldn’t do if you were willing to devote the time to it.
The Three Credit Bureaus
There are three main credit reporting agencies, and not all of them are exactly the same. The three largest credit reporting agencies are Equifax, Transunion and Experian. They are all competitors, but they also all work together to best serve the public and provide them with the best security possible.
Because these are the top three credit reporting agencies in the United States, your credit history is almost always sent to at least one of these three agencies. It is important to regularly look over your credit report and make sure that all the information on it is correct. You can do this by obtaining your free annual credit report from each company. For any inaccurate information you find, make sure you file a dispute with the agency, and also file a fraud alert with them as well. This is just in case the inaccurate information was not accidental, and you turn out to be a victim of identity theft.
Credit Report Protection
While you work on repairing your credit, there are two dangers you need to protect your credit from. The first is from identity thieves and the possibility of your identity becoming stolen. The second thing to protect it from is from you yourself.
If you have been or might be a victim of identity theft, there are some security measures like identity theft protection services you can take to protect your credit, along with actions you can take to remove the transactions you did not complete. You might want to place a credit freeze or a fraud alert on your credit report, and possibly opt-out of pre-screened credit offers. Be sure to file a dispute with the credit reporting agencies on the transactions that you did not authorize. And make sure you remember to file a report with the police.
To protect your credit from the piece of you that is tempted to use money you may not have, there are a number of tips that you can follow to protect your credit report from yourself.
Repairing Your Credit
There is a list of steps and actions you should take to repair your credit if you’ve been a victim of identity theft, and there are a lot of steps and hints to follow if you’re repairing negative credit that you created yourself. It takes a lot of time and patience to repair your credit report, but once you’ve done it, it’ll be a lot easier to obtain credit, and your credit will be safer from the world too.
- Credit repair companies – credit repair DIY resource
- ID Theft Protection – identity theft help