Review each report for inaccuracies
and negative items that do not correctly
reflect your credit position.
Look for collection accounts:
— Equifax lists them at the end
of the report
— Trans Union mixes them throughout
the report.
— Experian gives a brief explanation of all accounts.
If you don't recognize any the accounts,
don't assume they are yours.
Note: retain the services of a professional legal team to handle all credit repair issues: see information
Step 3: Dispute All Inaccuracies
Dispute all inaccuracies and negative
items in your report.
You can file a dispute
online with the individual credit agency.
Note that you must file individual disputes
with each credit agency if the inaccuracy
is found on all three agency reports:
Note: retain the services of a professional legal team to handle all credit repair issues: see information
You may also send
a written notice to each credit bureau
using the sample format below:
Name of Credit Reporting Agency
Street Address
City, State and Zip Code
From:
Your Name and Social Security number
Street Address
City, State and Zip Code
Telephone Number
Date:
Re: Correction of Errors in Credit Report
Dear (Name of Credit Reporting Agency):
Please be advised that the following
error(s) appear(s) in my credit report
issued by your agency on the date of
(mm/dd/yyyy):
List Credit Name
Identify the Dispute
List Comments (be specific)
(if you have any documentation
to support your claim, forward copies
along with your letter)
Please correct my credit report to
remove this incorrect information. (describe
nature of error; be specific)
_______________________________________
_______________________________________
_______________________________________
_______________________________________
Please correct my credit report as soon
as possible to remove this incorrect
information. You may contact me at the
number above if you have any questions
regarding this matter.
Sincerely,
(your signature)
Step 4: Clean Up Your Report
After you remove
all inaccuracies, your next task is to
remove negative items that affect your
score; most notably delinquent and non-payment
accounts.
Contact each individual creditor (or collection
company) to negotiate a manageable repayment
plan. Explain your financial situation.
Some companies will drop the interest,
forgive part of the loan, or offer extended
terms that allow you to make reasonable
repayments.
Your last resort is to pay the entire
outstanding balance in full.
Request a written agreement that that
the creditor will remove the bad rating
on your credit report if you meet the
terms of their repayment plan.
Make sure you live up to your agreement.
The last thing you want is to fall behind
on your repayments.
Note: retain the services of a professional legal team to handle all credit repair issues: see information
Step 5: Check for Changes
If you meet the repayment agreement under
Step4, the creditor will delete
the negative account and change it to
a positive rating.
Make sure you review your report for that
change. You should have in your possession
the creditor's agreement to correct the
credit report. Contact the creditor is
there is an error.
Keeping Your Credit Report Clean
Make it a habit to check your report regularly
to protect yourself from credit abuse
and fraud.
You may consider credit monitoring and
protection services to watch and protect
your credit report:
use this option if you need help to repair
your credit.
This may be the right option if circumstances
such as unemployment, loss of income,
or other unfortunate event prevent you
from repaying your debts.
This option is also recommended if you
have collection agencies threatening
action. Counseling services can advice
and protect you from adverse action.
Credit
counseling services:
credit counselors will be able to discuss
your situation with your debt lenders
to either forgive the debt or structure
a repayment plan that fits your budget.
They will also work with you to establish
a budget that fits your current situation.
