Debt Elimination

Do it yourself credit repair

Repairing your own credit may seem like it is beyond your skills, but it is possible for many consumers to review and repair their own credit report. All it takes is some perseverance, hard work and knowledge of how the system works.

The most important part of do it yourself credit repair is the learning process. Learning about how items are reported to the credit reporting agency is an important first step.

Another important step is to get a copy of your credit report. Only by having a copy of your credit report in front of you can you truly know where you stand. If you are just starting the process of credit repair, it may be a good idea to obtain a copy of your report from all three credit reporting agencies. The big three are TransUnion, Experian and Equifax, and all three allow consumers to request a copy of their own credit report.

With the credit reports in hand, it is time to begin the review process. The first step is to check the reports carefully for both errors and unauthorized requests. Errors on credit reports are all too common, and those errors could prove to be very costly.

Unauthorized requests on your credit report, on the other hand, could indicate an attempt at identity theft. Identity theft occurs when a thief obtains personal information like your Social Security number, account numbers or other identifying information. This information is then used to open credit accounts and take out loans in your name. Be on the lookout for evidence of identity theft as you review your credit report.

If any errors are found on the credit report, it is important that they be reported, in writing, to the credit reporting agency immediately. It is also important to check back and ensure that all errors have been corrected. If any errors remain, be sure to report them again, and follow up again to make sure they are gone.

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