Credit Repair Secrets

Credit Repair Secrets

Credit repair secrets abound on the internet, but which ones have some truth to them and which ones should you listen to? This article discusses 3 Credit Repair Secrets to help you sort through the credit repair maze.

Credit Repair Secrets #1

You can fix your credit yourself.

Despite what some credit repair agencies would have you believe, you can fix your credit yourself. It is quite within the average person’s capability.

Why would you want to pay hundreds of dollars to a company for a service you can do yourself?

There is plenty of free information on how to fix your credit available on this site, at various government websites and you can even go to non profit credit repair organisations to learn how to repair your credit yourself.

Credit Repair Secrets #2

You don’t have to pay for a copy of your credit report.

Even though there are plenty of websites telling you they can get you a copy of your credit report straight away for a small fee, that is untrue.

You are legally entitled to get a copy of your credit report once per year from each of the three credit reporting agencies: Equifax, Experian and Trans Union at no cost to you.

Unfortunately some companies take advantage of consumer’s lack of knowledge about their rights to receive a free annual credit report and will charge them for something that would cost them nothing.

Credit Repair Secrets #3

You cannot remove accurate negative information off your credit report if the credit agencies can show proof of its existence.

Regardless of what you may read to the contrary, you cannot remove accurate negative information off your credit report.

You have the right to dispute the information on your report, and credit agencies and creditors have to actually verify that the information on there is accurate; otherwise they have to remove it.

However, if the negative information on it is proven to be correct by the credit agency, then it stays on your report until the passage of time sees it removed.