Credit repair is not as hard as people think and you can get it done on your own. There is no need to hire an expensive credit repair firm for something you can do yourself with a few hours of your time. In this article I am going to go over 3 tips you need to keep in mind when setting out to repair your credit.
1, Understanding The FCRA- You should have a good understanding of the FCRA, this stands for the Fair Credit Reporting Act and it consist of the laws that the credit bureaus most follow when dealing with your credit report. The better you understand the law, the better the chances because you will know when the credit bureaus are in violation and hold them accountable.
2, Work On All 3 Reports- You have a credit report with the 3 main credit bureaus, Equifax, Transunion and Experian. Each one has a credit score which they assign you and most lenders and creditors use the middle score to qualify you for most types of loans. When you start working on your reports, make sure you work on all 3 at the same time.
3, Secure Credit Cards- Secure credit cards can help you repair your credit by reestablishing a new credit account with the creditors. Your credit score has certain factors that they take into account and one of them is your current open credit. If you do not currently have any credit cards, a new credit card account can help put a positive account on your credit report, which would be a good factor that will help raise your credit scores. With secure credit cards you would deposit an amount of money for security.