You CAN Repair Your Own Credit File For FREE!
Here Is How:
You CAN repair your own credit for free. Doing so just takes time, persistence, and a great deal of patience. The Federal Trade Commission website gives all the details of how and why you can and should repair your own credit file. But strangely, after reading the pages describing how to on their site, I found that the FTC left out some very important details.
First of all, it is VERY time consuming to repair your credit file, even for minor things. The FTC makes it seem like the credit bureaus are just waiting for you to contact them and they will just fix your file over night. Not So! In fact one of the first hurdles that you must over come is the "internal audit" conducted anytime you submit a discrepancy letter, or challenge form from the internet. The law allows each bureau to conduct an internal check of your file and if they find all is in order from their information, then nothing gets changed and you get a letter stating such, along with a copy of your current credit file. This happens EVERY time you challenge an individual error in your file. In short the bureau can ignore your first request for review, and simply say your file is correct, and move on. Remember, they are NOT in business to provide you with an accurate file for free. They sell your information and everyone else's to lenders, car loan companies, and other financial institutions and sources of request. So actually performing "work" for you for free is low on the priority list!
Secondly, if they can "play dumb" and misunderstand your request, and conduct a quick check of something you are not asking for review on, then declare it correct, they dodge another bullet. That is why it pays to use standard forms and clearly state what is wrong, that you understand it is against the law for them to report this information once they have been made aware of the inaccuracy, and that they must correct your file. This kind of stiff and firm request is usually met with a letter advising that they have received your request and that they are contacting the original creditor to verify the information you provided. This creditor then has 45 days (30 to respond plus mail both ways) to answer the request, or the file must be adjusted to the information you provided.
The reality is that this process can take several months, and can involve many submissions on your part of the SAME INFORMATION to finally get a correct resolution. I had a client that had 3 different names at the credit bureau and 3 separate files, all with the same social security number! Even as obvious as this circumstance was, it took nearly 6 months to correct, and the results also yielded a lower credit score because of the resulting inaccuracies.
To help you with this process, here is a list of some of the
more commonly needed forms for correcting your credit file. Keep
in mind that this is not all of what you may need; every
situation is going to be a little bit different and require a
different approach to making the correction. These forms are in
Adobe Acrobat format. If you don't have Adobe Acrobat then
Here are some other forms for making additional corrections
and additions to your credit file. Use these forms to add good
information to your file, or an offer to begin making payments
by arrangement if the creditor removes the negative credit
entries on your file.
So, yes you can go it alone and correct your own credit report file.
Many people have done so in the past. I have a lot of help here on this page
to assist you in getting your information correct and up to date. But if
after you try to get your file corrected, and still have little or no
success, check out these Credit Repair Services I have reviewed. They are
the best with excellent tract records of helping others just like you! Click Here to see my review of the 5 Best Credit Repair Services
and self help guides.
