Free credit repair involves attempting to clear up negative reports on your credit report without the aid of paid professional credit repair services. For most people, it is a feasible option for those wishing to save on professional fees charged by credit bureaus. Performing free credit repair
online is also possible thanks to the Fair Credit Reporting Act passed in 2021. It grants every individual the right to make sure that the information contained within the CRAs is accurate, up to date and confidential.
One way to begin the credit repair process is to request your credit report from the three nationwide credit agencies. These are Experian, Trans Union and Equifax. All three credit bureau companies are required by law to provide you with one free copy of your credit report each year. This allows you to check and challenge any errors that may be present in your report.
You may find that a number of errors are present in your reports. You then decide whether to attempt to have these corrected by sending the credit bureau the details of the disputed item or whether you wish to dispute them yourself. If you choose the latter, then you will need to go through the same process as those who dispute items in which you do not have enough evidence to have the item removed.
If you do have enough evidence to have negative information removed from your credit report, you should first attempt to pay off whatever debt caused the problem. Setting Fraud Alerts On Your Credit Report You can do this by writing a formal letter to each credit bureau informing them that you have settled your debt. Once this is done, you should make a payment arrangement with the agency. Doing so will prevent them from reporting that you have settled the debt and this will negatively affect your credit score.
The next step involved in credit repair is to research your debt. Once you have done this, you should compare the debts listed on both your report and your statement to see if there is any duplication. If there is, then you should dispute this item with the creditor. This process will remain in place until you are able to prove that you have paid your debts in full. Completing this process will enable you to remove the negative information listed on your report.
You should always wait for the credit bureau to consider your dispute before you begin making phone calls or writing letters. This is because if you begin the dispute too early, then the courts could rule in your favour. For example, it may be possible to have an item deleted if you show that it was sent to a collection agency before it was disputing. A fair credit reporting act was introduced in 2021. It did not take long for people to figure out how to use this law to improve their credit rating. Many people were happy to pay a small amount of money to make sure that they have the best possible rating.
After you have researched your debts and seen that there are no duplications, you can start the process of dispute these items yourself. You will need to write and challenge all the items on your credit reports that you dispute, and then wait a few days to see whether the creditors respond to your challenge. It is highly unlikely that the major credit bureaus will ignore your challenge. If they do acknowledge the dispute, the creditor is required to provide written proof that they do not have proof of the item in question. Once the creditors receive this proof, they are legally obligated to remove the disputed item from your credit reports.
In conclusion, you must take action against all negative items on your reports. This includes disputing negative items that are incorrect or old. You should also work to improve your credit scores. This may require you to pay for credit repair help, however it is better than suffering the consequences of bad credit ratings. I hope that this Free Credit Repair Guide has provided you with useful tips and information that will help you repair your damaged credit scores