Do it Yourself Credit Repair - Five Things You Must Know

Do it yourself credit repair is the process of fixing your credit score without hiring a credit repair company. If you have decided to undertake the process of do it yourself credit repair then this article contains five things that you must know before you start. This process takes time and patience, it cannot be achieved overnight. If your credit rating is at an all-time low and you are being refused loans and credit cards then this article will show you how you can begin to rebuild your credit score by first doing some research and then by acting on it to get the results you want.

1) Every financial transaction that you make is recorded and reported. If you are late making a utility bill, credit card or loan payment then the credit bureaus will know about it and record it accordingly.

2) Sometimes the information recorded by the credit bureaus is wrong. This can impact negatively on your credit rating.

3) You could even be the victim of identity theft and not know it. This could have a disastrous impact on your credit score. It might even be that the credit bureau holds inaccurate information on you because they have got you confused with somebody else who has the same name.

4) If you are refused credit then you have the right to request the name and address of the credit bureau that provided information on you. You can then request that they send you a copy of your credit report for free and they must do so within sixty days.

5) If you can prove that there is a non-trivial mistake in your credit report then the credit bureau must fix it. You can request that they fix any errors by sending them a dispute letter which they then must act on.

In conclusion, once you know these five things about do it yourself credit repair the whole process seems less daunting and a better credit score seems achievable. Some credit repair companies would like to charge you for the benefit of this information. But why pay, w hen you can get all the information you need for free on the Internet .

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