Repair Credit History - Insider Reveals Credit Repair Secrets
Written by Tim Beachum   
Thursday, 08 October 2009 13:32
It really doesn't matter how you got here, nor why you have decided to repair your credit history. The important part is you are ready to do it. I highly recommend that you bookmark this article or print it out. You will want to refer to it often. You will also need a pen and paper to take notes.
by TimBeachum


It really doesn't matter how you got here, nor why you have decided to repair your credit history. The important part is you are ready to do it. I highly recommend that you bookmark this article or print it out. You will want to refer to it often. You will also need a pen and paper to take notes.

You must first get your affairs in order. You can start by creating a list of your income. Remember to include all types of revenue such as pension checks etc... Next you will want to compile a list of all of your expenses such as utilities, rent and or mortgage payments, groceries etc. I'm sure you get the point. If you follow this you will immediately have a better understanding where you are currently going wrong as far as your finances.

Your next step is to directly contact the creditor. If you were previously a good customer in most cases the creditor will be willing to work something out with you. This is an important step towards repairing your credit history. Once you and the creditor have come to an understanding do not forget to request that they remove any negative mark that they may have placed on your credit report. You will always want to get your mutually agreed upon agreement in writing. It will be a lot easier if you write up the agreement and send it to them along with a self addressed stamped envelope.

If you have a damaging history of delinquencies, and a poor credit score, I recommend that you write to the creditor asking them to change any charge-off to a, "paid as agreed", or "paid in full, on-time." The same strategies that I am sharing with you right now will also work with collection agencies and credit attorneys as well. The most important thing about using this technique is to remember... DO NOT SEND ANY MONEY UNTIL YOU HAVE AN AGREEMENT!!! In the past I have had students send a payment in with the agreement letter just to find there self standing in front of a judge, and worse than that they lost the case and ended up spending more money.

With your agreement in place you are moving in the right direction. You can keep up the good work by starting a new line of credit. This is a strategy that is often over looked and that can immediately increase your credit score by 150 points. In order to start a new line of credit all you have to do is get a secured credit card, secured loan, or a car loan. Out of the methods that I have just mentioned obtaining a secured credit card is by far the easiest one. It is also important to note that you should never let your balance go over 20% of the maximum credit offer.

The information that I have given you in this article is guaranteed to help you repair credit history fast. Hands down this article is a great start, however it isn't enough to give you the financial freedom that you truly deserve. Without correcting the errors currently on your credit report all of your efforts will be worthless. Unless you have some rare credit situation I suggest that you not waste your time attempting to repair your credit yourself. Don't take my word for it visit the website of the Federal Trade Commission who will tell you... "There is nothing that anyone can do for you that you cannot do for yourself.

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