There are three ways to repair your credit. These are:
1. Repairing the bad credit you already have,
2. Building better credit by borrowing and paying for things in a
sensible way,
3. Waiting for you bad credit to pass
Repairing you credit is surprisingly easy to do yourself. The best
and cheapest way is to request a credit report from the three big
credit companies. Once you receive your credit report, go through
the items that you think are unfair or incorrect. Write a letter
explaining why these items are incorrect or unfair. The lending
companies then have 30 days to respond to your disputes. If in this
time they do not respond then it is possible the bad credit will be
removed from your records. It may not be this simple for all your
bad credit marks on your credit report, but keep in mind sometimes
bad marks are put on there by mistake. A great resource I've found
is called the
CREDIT SECRETS
BIBLE™. This program promises to show you how To RAISE Your
CREDIT SCORE up to 249 Points in Under 90 Days!
Building better credit is also very easy. All you have to do is to
take out a loan and pay it back regularly until it is paid off. This
builds confidence in your lenders that you are a sensible consumer.
This can counterbalance the bad credit and will help a lot,
especially when people have very little credit history. It may be as
simple as taking out a few small loans and paying them back in a
short timescale. All you have to remember that should you start
missing payments on loan repayments, this will create bad marks
against your credit record, so don’t borrow unless you are confident
you can pay it back.
Waiting for your bad credit history to pass is by far the easiest
way, but also the most unproductive. Bad credit takes about seven
years to clear. Once your credit history has been taken off your
record, you’ll have to start all over again.
So it is worthwhile to both repair your credit and build better
credit because seven years is a long time to wait.
