How to Repair Your Own Credit

Nobody sets out to have bad credit, but it happens. That one mistake you made years ago may have yielded a dozen other mistakes, all of which further damaged your credit. You generally don’t think about your credit score when things go wrong, but eventually the time for penance will come, and it usually comes when you can’t get something you want – be it a car, a credit card or a house – because of your credit score.

In this situation, you have three choices. You can sit back and do nothing, depriving yourself of the things you want because of prior transgressions. You can also take on the creditors by yourself, which is time-consuming and stressful. Your final option is to sign up for the services provided by and let them do the dirty work.

According to, negative marks on your credit report can take up to seven years to fall off your report. Why waste valuable time waiting when you can do something about it right now? Take back what’s yours, and set yourself up for success in the future.

Tips for Fixing Your Credit

Pull Your Credit Report
Your credit score is a snapshot of your credit worthiness, which is based on the information in your credit report. You don’t know what’s hurting you until you take a look and see what your credit report says about you. You might also find some unwelcome guests in the form of inaccurate information; CBS News reported in 2009 that nearly 80 percent of credit reports contain errors.

Don’t Apply for New Debt
According to, banks are starting to target “subprime” borrowers – those people who want credit, but have less than perfect credit scores – for car loans and credit cards. These offers may be tantalizing, but they come with strings attached – most notably, high interest rates and fees. Avoid the temptation, work on your credit, then get a great interest rate when you’re ready to take on credit again.

Filing a challenge
Filling a challenge with a credit bureau used to be a tedious process of record finding, letter writing and hoping in vain. Not anymore. The three major credit bureaus – Equifax, Experian and TransUnion – allow you to file a challenge online, with no supporting documentation necessary. If the credit bureau can’t prove they’re right within 45 days, they must remove the negative item from your credit report. If you have any sort of argument why an item should be removed, there’s no excuse not to file a challenge.

Ask for Goodwill
If the credit bureaus won’t get rid of your negative items, take your quest for credit repair to the next level. According to, a goodwill letter to a creditor is essentially a mea culpa. It’s an opportunity for you to explain why things got out of control and what you’ve done to fix those problems. The creditor doesn’t owe you anything in this type of appeal, but you never know what a creditor will do for you until you ask.

Pick Your Battles Wisely
Your credit score is made up of five factors, but two of them – your history of paying on time and your ratio of used credit to your credit limits – comprise two-thirds of your credit score.Focus on these areas as you review your credit report and file your challenges. If you only have time to write one goodwill letter, try to get the three late payments wiped out as opposed to removing one inquiry.

Lastly, remember that you don’t have to do any of this yourself. will fight your battles with the credit bureaus and the creditors, giving you the peace of mind that comes with a rapidly improving credit score. Don’t delay – sign up today!

Posted in Credit Repair
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