How You Can Repair Your Credit

You may have applied for a loan recently. An application may have been filled out and a denial letter was returned from the lender. You may be wondering what exactly caused this denial. Moreover, you are concerned what your credit report is like and you want to learn how you can repair your credit quickly. There are ways you can repair your credit without paying anyone a dime. Granted, it will take time and could possibly be up to 6 months before any formal action is completed.

What Do I Do First?

Now you know you have a problem and need to repair your credit quickly. The first thing you need to do is contact the major credit reporting agencies: Experian, Trans Union, and Equifax. Each company has their own website with rules and regulations, but you need to know what the problem is with your credit now. For a small fee of $10 you can download a current copy of your credit score with the reporting agency and print it out. Look at each creditor and make sure the debt that is appearing on your report is valid.

What to do if the debt is invalid?

Let us say that the error reporting on your credit report is not yours or associated in anyway with anyone in your immediate family. You now know you have to repair your credit by filing a claim with the reporting agency challenging the accuracy of their records. Don't worry, they are looking for you and will act fairly.

The credit-reporting agency must contact the debtor and ask for proof of claim. Should they not be able to furnish anything, they will fix your credit within 2 – 6 weeks time. If they contest it and furnish proof you will have to resolve the issue between you and the creditor.

Make sure to do this step and repair your credit with each agency. This blemish could stop you from buying a car, getting a job, renting an apartment and even buying a home. The faster you resolve the matter the better position you will be in.