DIY Credit Repair

tronixnews — Tue, 20 Jan 2009 21:45:56 +0000

Here is a do it yourself guide to assist you on D.I.Y. credit repair, and assist with the removal of “inacurate” items. When investigating inacurate entries on your credit report, there is no charge. The general concept of credit repair is to identify, dispute, and ultimately, have inacurate information removed from your reports. This will have the positive affect of increasing your credit score. The steps to the credit repair process are below.

Get your credit report from all 3 bureaus, and review your report for negative entries.
List all items you consider to be negative.
Dispute each negative entry with all 3 credit bureaus.
Mail a dspute letter to each of the bureaus, and send each one as registered mail.
Record when the letters were mailed
Wait for the bureaus to investigate your claims.
Review the results.
Repeat the process until most, or all negatives have been deleted.

Three Ways of Removing Collections From Your Credit Report

tronixnews — Tue, 20 Jan 2009 21:43:24 +0000

When it comes to credit repair, removing collection accounts from your reports is quite easy actually. Because collection agencies usually have poor, and usually are licensed, or authorized collect this information, once can dispute this, and have that entry deleted. As a result, there are many techniques. We are going to go over in brief the top 3.

Pay for delete – usually best for collections less than $499. You can simply negotiate to have the negative entry removed for a lesser amount than what is on your credit report. Sometimes for less than 50%

Settling the debt – Similar to Pay for delete, but usually for amounts greater than $500. You simply negotiate to pay a lesser amount to have the negative entry removed. Usually this in one lum sum payment.

Debt Validation – This method requires you send out dispute letters to each of the 3 credit bureaus, and require the collection agency to furnish proof of your account. Due to poor documentation on their part, this is usually very successful.