Credit Repair: Save Time and Money With These Simple Tips

credit repairIf you’ve been looking into credit repair services, you’ve probably come across a whole host of sites looking to part you from your hard earned cash. Don’t fall for it, because the quickest and easiest way to repair your credit is outlined below.

Credit Repair Tip #1: Free Reports

Get your free credit reports from annualcreditreport.com. This is the only site authorized by Federal Law to give you access to your reports. ALL other sites will try to sell you one of their products.

Make copies of your reports. This might sound unnecessary, but trust me on this. Keep the original in a safe place, unmarked, for future reference. The extra copy can be used to make notes, mark dates, and referred to when needed.

Credit Repair Tip #2: Credit Triage

Perform a credit triage. This means that you will focus on the accounts that are the easiest to fix. For example, reducing your credit utilization below 30% will have a tremendous impact on your credit score.

The purpose of a credit triage is to make the best use of your time, with the quickest results possible. Take care of the most easily-fixable accounts first. Give them the highest priority.

Credit Repair Tip #3: Don’t Reinvent the Wheel

There are proven methods to remove negative information on your reports. One excellent site is CreditBoards, which has been helping consumers for well over a decade. They have sample letters, solid advice, and a wealth of experience.

Remember to personalize any letters you might use from them, however. Sending a cookie-cutter dispute letter is a great way to have your issue dismissed by the creditor or credit reporting agency.

Credit Repair Tip #4: Time Takes Time

When disputing negative information, you have to understand that time is your friend. Credit bureaus and collection agencies, for example, have a certain period of time to respond to disputes. Thus, you want to keep specific notes on when and who you contacted.

Credit Repair Tip #5: Utilization

Finally, I can’t stress enough that your current accounts are what matter the most. If you have open credit cards with high balances, they are likely hurting you more than anything else. Find a way to get the utilization below 30%, and you’ll quickly find that your credit is being repaired more quickly than you thought! ♦