| If you have suffered credit score loss, then you need | | | | trying to make your payments on time and want to |
| to take fast action to start your credit score repair. | | | | work with them to fully repay your loan. If they do not |
| With the financial crisis that has hit the US and Europe, | | | | want to remove the derogator remarks, write to the |
| many people have had their credit history tainted with | | | | agencies and ask them to remove these accounts, |
| derogatory remarks. To counter act what has | | | | since they have errors. The lenders have 30 days to |
| happened to your credit, you can follow some | | | | respond to your challenge, and if they don't, the |
| procedures that will stop the downward slide of your | | | | agency has to remove these accounts. |
| credit score. | | | | 6. Each month do something to repair your credit and |
| Start working with the three main credit reporting | | | | improve credit score. Work on only one account per |
| agencies. They contain all your financial activity and | | | | month. If you letter doesn't help to remove the account, |
| personal information. Many times this information is in | | | | write another letter 2-3 months later. |
| error and has other people's information in your | | | | 7. If you want to have help in getting your credit score |
| reports. Here are some tips to get started. | | | | repaired, look for a paralegal or lawyer that is |
| 1. Write the three credit reporting agencies to get a | | | | experience in credit repair. |
| free copy of your credit report and credit score. | | | | 8. For credit cards or personal financial loans that you |
| 2. Once you receive these reports, check the credit | | | | are having problems paying, talk with the lender. See if |
| bureau scores. This is your personal credit score that | | | | you can have your loan restructured or ask for a |
| you want to improve. Now, check each bureau's | | | | couple of months with no payments. |
| report for errors. Make a list of errors you find in each | | | | 9. As you work on your credit, keep your present |
| report. | | | | financial activities clean and up to date. Don't make late |
| 3. Look for simple errors. A simple error can be a | | | | payments or overdraw on your credit cards. |
| wrong spelling by one letter of your middle name. Don't | | | | Protecting your credit score should be one of your |
| over look any error. Then in a letter to the agency, list | | | | main financial goals. Your credit will determine what |
| three of these types of errors and indicate why they | | | | you can buy on credit and what interest rate you will |
| are errors, and that you want them to be removed | | | | be charged. Also, do your borrowing and payments |
| immediately. Every month submit another letter pointing | | | | with the idea of "improve credit score." |
| out errors. | | | | To start rebuilding your credit, apply for a prepaid credit |
| 4. If you find in your report accounts that are over | | | | card or a bank card that is backed by your saving |
| seven year old, ask them to remove the bad accounts | | | | account. When you use this card, buy the goods you |
| and don't ask to remove the good accounts. Credit | | | | normally buy and then pay off the card within a week. |
| consumer law requires agencies to remove accounts | | | | Keep the card balance low and this will help you build |
| over seven years old. | | | | your credit back up. These are the nine basic tips that |
| 5. If you have made late payments, they will show up | | | | can get you started in rebuilding your credit report and |
| on your report. Call the lenders of these accounts and | | | | score. |
| ask if they will remove them. Tell them you are now | | | | |