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Credit Repair Tip - Do It Yourself

There are many places online that would love for you to sign up for some expensive program to improve your credit. In some cases and for some people this may be a great option. Just make sure that you carefully investigate all offers before signing up for them.  You also need to realize that most credit repair can be done simply by you right at home for free, and that is the number one credit repair tip I can give you.

A lot of times people like to hire some credit counselor primarily because they are overwhelmed with everything and just want someone to take them by the hand and tell them what to do.  It can seem easier to turn the reigns over to someone else than to have to deal with it all themselves. While totally understandable, it can also be expensive.

The first thing you need to do to take charge of your credit is to get a copy of all three of your credit reports (for those who didn't realize, there are 3 major credit bureaus and they can all have different information on their reports so it's wise to get a copy from all three: Experian, Trans Union, and Equifax). 

When you get your reports scour them with a fine tooth comb to find any and all mistakes. You might be surprised at all the wrong information that is on your reports.  If you find any mistakes contact the credit unions immediately, in writing, to have the mistakes corrected. They have 30 days to comply. Make sure that you send along any information that you have that will prove that the item is question is a mistake.

That one single thing can help many people increase their credit score by a dozen, or even, a hundred points in just one month. That is huge!

The next step is to pay your bills on time: each bill each month.  If you find that you've gotten overextended and just don't have enough money every month you can do one of three things: make more money, decrease your monthly bills, or talk to your creditors and see if they will lower your payments or interest rate so you can handle the bills. 

In many cases they will agree to lower your interest rate, particularly now with so many people struggling in this bad economy.  In the short term that will still leave a mark on your credit report but in the long run it may make it easier for you to get back on track and get things paid of more quickly.

If you just feel lost and want someone to act as your guide through the credit jungle, you can find a counselor to help you out. But for most people, all they need to do is take charge and make a commitment to do it.  The number one credit repair tip is to start right now, whether you do it yourself of hire someone to help. The sooner you start, the sooner you'll be able to get all the perks that come with having a great credit score.

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