You Need to Know About Credit Repair

You Need to Know About Credit Repair

It can be difficult to navigate society if you have a poor credit history. A number of companies use your credit to decide whether to do business with you and to set pricing for the products and services you use. Consumers with troubled credit cleaning histories often seek credit repair to improve their financial situation. These are the most critical things you should keep in mind as you evaluate your options.

1. You Can Do It Yourself

A reputable credit repair company might be an option, but there’s really nothing it can do for you that you can’t do for yourself. Plenty of information is available in books and on the internet that you can use to educate yourself on how credit works and what you can do to repair your own.

Removing negative information can be accomplished with techniques like disputing false reports, debt validation, pay-for-delete services, and goodwill letters. Credit repair companies use all of these strategies to get negative information removed from your credit report.

Doing it yourself can save you money. It also gives you power and control over your credit history.

2. You’re Entitled to Free Credit Reports

Your credit score is influenced by the information that’s contained on your credit report, so checking your report is the first step toward increasing your credit score. You can get a free copy of your credit report once per year from each of the major credit bureaus—Equifax, Experian, and TransUnion.

3. Your Credit Score Tells You Where You Stand

Pay attention to your credit score. This magic number tells you whether your credit is good, bad, or improving. A low credit score indicates a poor credit history that needs work. It’s an indication that your history is improving if your score goes up. But purchasing your credit score every time you want to see where you stand can get expensive.

Using a free credit score service like Credit Karma or Credit Sesame will allow you to monitor your credit progress at no cost, but be careful. Look for a credit monitoring service that doesn’t ask for a credit card. Otherwise, there’s a chance you might actually be signing up for a free trial subscription that will begin charging you each month if you don’t cancel the service.

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