You don’t need to hire one of these credit repair agencies to fix your credit. It’s absurd to think that those enduring financial hardship are actually going to dish out money they don’t have so someone can fix your credit. There’s nothing they can do that you can’t do. The only thing they have is time and knowledge. But if you have enough time to go through the process of hiring a company then you have the time to fix your credit on your own. As for the knowledge, you’re about to get a dose of it.
Here are a few things you can do to raise your credit score.
Credit report
The first step is the most obvious one. Get your credit report at annualcreditreport.com. The Fair Credit Reporting Act states that you are entitled to a credit report for free from Experian, Equifax and TransUnion every 12 months. Keep in mind that this is only your credit report, not your credit score.
Errors
After you get your free credit report look it over. Do you notice any mistakes on your credit report? If so you can get those fixed quite easily. Find a sample dispute letter online and submit it to the credit agencies and the company who still has you owing money. After the information has been corrected your score will go up.
Debts
Pay down your most recent debts first. This is going to give your credit score a big boost. Recent debts are the ones that hurt your score the most. Debts that are 7 years old or older will vanish from your report.
Waiting
If a credit repair agency claims they can fix your credit immediately and boost your score X amount of points in X amount of days they are lying to you. They can’t do anything you can do on your own. There’s no way to speed the process up of getting your score to go up. So give it time, pay your bills on time and your score will go up on its own. As errors are repaired, debts get paid and older debts drop off your score will rise over time.
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This is very helpful. Thank you!