You can enhance your credit score yourself by disputing the personal information that has been compiled in your credit reports from the Big 3 Credit Bureaus — Experian, Equifax and TransUnion.
Your first order of business is ordering your free credit report online at annualcreditreport.com. There is no charge for this service.
Secondly, it is a good idea to print out each of your free credit reports to have a hard copy you can easily refer to as you start the argument course of action of your credit report entries. Having immediate access to these credit reports now will give you all of the facts as to the current position of your credit rating in stark black and white.
The third step is to carefully review these free reports and commence taking direct action to argument inaccurate, outdated, or erroneous credit report information that you find in your credit history.
The free credit report website annualcreditreport.com will not provide you with your current FICO score. You will have to shell out $5 to $10 at the time of your order to view your credit score. Yes, the credit report information remains free; the FICO score is nevertheless a chargeable item. To check your credit, you can always order your FICO scores online at myfico.com.
You should be aware that both the CRA and the business which provided originally submitted negative information to the credit bureaus are responsible for ensuring the reported information they are adding to your credit report remains accurate and timely. They have a vested interest in getting the story right. This is where you likely will find the errors, and where you will have the best opportunity to challenge black marks and derogatories hurting your credit score.
When you have a argument, it is your right to contact these three major credit bureaus by mail, phone or via web to fix your credit:
Experian, P.O. Box 2002, Allen, TX 75013 experian.com 1-888-397-3742
Trans Union, P.O. Box 2000, Chester, PA 19022 transunion.com 1-800-888-4213
Equifax (No address avail.) equifax.com 1-800-685-1111 (CSC Credit sets, Box 98122, El Paso, TX 79998)
Improving your credit score is as easy as writing the letter to direct errors and outdated entries be deleted from your credit report. No, you won’t be able to challenge and have timely, accurate bad credit entries deleted from your credit history. These stay, sometimes remaining on your records for as long as 10 years. But many entries, such as 30 day late payments on credit card accounts and negative information in civil matters, must by federal law be removed after 2 years. These meaningful derogatories will be what you will want to find and challenge.
Your real meaningful to repairing your credit is to write an effective letter to the CRA (that is, the “Consumer Reporting Agency”) pointing out specific information you have identified which is inaccurate. When sending this kind of letter, attach copies (not the originals) of all important, applicable documents supporting your case.
You must provide the CRA with your complete name, your address, plus contact information. additionally, your credit argument letter needs to clearly clarify each item in your report you argument. Simply state the facts and explain why you are now disputing the information. Be clear that you need deletion and removal of this information. You can easily follow the template of a sample credit repair letter to craft your own argument letter.
It’s never a bad idea to include one copy of your credit report, using a highlighter pen to make items in question stand out. Add notes in the margins. Send your letter by certified mail, return receipt requested, so you can document what the CRA received. Remember to keep a copy of your argument letter and all related enclosures. Keep them in an oversized envelope, with the date you mailed them written on the outside of the envelope. This will help you track progress.
Improving your credit score is worth the effort, because a higher credit score will help you qualify for better terms on a home or car loan, and it will also help you keep car insurance premiums in check, and may truly help you get hired for a new job.