There are several ways to erase bad credit. Although nothing can be “erased” from your credit report that was legitimately put there, there are a few loopholes that can help you get around the bad marks on your credit report.

Often times, people turn to credit repair agencies or law firms to take care of all of the details. This can become quite expensive and time consuming. Many of the law firms or credit repair companies will simply have you sign a contract that allows them to charge you a monthly fee while they “work on your credit report”.

Of course they are in it for the money and usually want to milk your account for the longest possible time. And if they make only one improvement in your report over the course of a year or two, then they are off the hook legally. In these situations, they have no incentive to fix your bad credit to the fullest extent. They just want to keep the work load down and still charge as much as possible.

The best way to fix your credit is to delve into the nitty gritty details yourself. Many people would rather simply pay someone to do this, but at the same time, many people don’t have the financial resources for it. It’s best to take your credit into your own hands and figure out all of the particulars yourself. We’ve all heard the saying: “If you want something done right, you have to do it yourself.”

This is very true in many cases with cleaning up bad credit. Although there are many resources available to assist you, you should always maintain complete control of the process rather than farming it out to others who’s main concern is turning a profit.

First you need to know what you’re dealing with. You need to start by obtaining copies of your credit report. You can go online and get a yearly free copy from the major three credit bureaus: Equifax, TransUnion, and Experian.

Once you have your credit report, go over it thoroughly and find any mistakes. You’d be surprised to know that approximately three quarters of all credit reports have mistakes!

Sometimes you can get bad marks removed from your file simply by filing a dispute with the credit bureau. They have 30 days to respond and provide proof, and if they can’t the mark will get deleted from your report.

Also, there are various resources that will allow you to remove items from your credit history immediately! Some of these programs offer plans on how to get a new credit file up and going within the system. They teach you how to build AAA credit on this new file and make it so the credit bureaus only acknowledge your new file.

Some states allow this, and others don’t. With a little research online you can find all the right tools and techniques to start fixing your credit yourself. You can save a lot of money this way and you’ll know exactly what’s going on with your credit report.

Here’s a quote from the Better Business Bureau: “Everything a Credit Repair clinic can do for you legally, you can do for yourself at little or no cost.”

Good credit is vitally important to each of our futures and it’s up to us as individuals to make sure our files are clean and up to date.



By: Jeffrey J Smith

About the Author:

Constance

Radiostar73 asked:


Any idea how much it costs to have a credit repair company try and fix your credit report
I know that credit repair is mostly a scam, but I’m curious about the actual amount

Floyd

Get New Credit-Fix CreditAnd Get New Identity

In this report , I am outlining some strategies to “Get New Credit” and in a stange twist , maybe a “New Identity”.

While most people are trying to fix their credit problems by obtaining free reports on “How To Fix Credit” this can be difficult and very time consuming. I am not saying that “Credit Free Reports” dont work (thats if you can find a legitimate organization) Im just explaining that there may be alterative on how to “Get Good Credit”.

Sometimes (as in todays rough economy) it is just not enough to “Fix Your Credit”. You may be better off “Starting A New Credit File” then trying to fix the old one. I know….How do I start a “new credit file”?

Rather then doing the old “Credit Repair” process , take a moment to consider the following suggestions on how to get “New Credit” and possibly a “New Identity” if this is required for you to succed. As a disclaimer I am not suggesting to be fraudulent in obtaing a “New Identity”. I am just suggesting that in order to create a “New Credit File” you may have to make a few changes to your name(which is legal) and use a different mailing address and such.

“New Credit” And How To “Get Good Credit” Maybe With A “New Identity” And Repair Your Credit Score Free.

Step 1

Request a copy of your current credit report from all of the major credit reporting angencies(bureaus) that serve your area. You will want to see all of the current information published on your credit report. In order to succeed in getting “New Credit”. You will need to be sure you are aware of the information that is reported on your most recent “credit report” so you have knowledge what to avoid starting your “New Identity” and enabling yourself to “get good credit”.

The four major credit reporting bureaus:

TRW

Post office box 749029

Dallas Texas 75374

TRANSUNION CORP

Post office box 7000

North Olmstead , Ohio 44070

EQUIFAX

Post office box 740241

Atlanta , Georgia 30374

ASSOCIATED CREDIT SERVICES

624 E. North Belt , Suite 400

Houston , Texas 77060

Step 2

Secure a new taxpayer indentification number from the Internal Revenue Service. This will be your new number , replacing your old social security number. You can apply right over the phone if you like.You may tell them you are starting a new business or nothing at all. Just make sure you get your new tin(ein). There is no reason to be intimidated by the IRS. This step is crucial in order for you to get good credit and begin again basically as a new you , with a “New Identity” as far as creditors are concerned.

IRS

USA 1-800-829-4933

INTERNATIONAL 215-516-6999 (Not toll free)

Step 3

Open an alternative mailing address. Since your goal is to “Get New Credit” you must take every precaution to avoid merging your “New Credit” with your old credit file. Use a trusted friends home or relatives home who does not share the same last name. You might also try an office rental service or a secretarial service. You will need a address which is physical by nature and not a PO box.

When opening this new address , consider using your middle name first then your last name, just to be on the safe side.

Step 4

Get a new phone number. In todays age everyone has a cell phone and that is ok. Just keep in mind having an actual land line could be beneficial in some circumstances. Not all agencies consider a cell phone number as proof of residence or identity.

Step 5

Once you have recieved your new tax identification number (tin) or employer identification number (ein) open a new checking account and or savings account with your new new number.Make sure you provide the new mailing address and phone number on any information they require to start your new account. Now you are getting close to your goal. The feeling of being considered “credit worthy” is once again within reach.

Step 6

Using the same information as above , apply for a loan backed by your new savings account as collateral. Another good idea is to get a secured credit card using your new information and make timely payments to get your “new credit file” started.

Step 7

Payoff the loan you recieved on your “New Credit” file in approximately 3 mos. This will allow for just enough time for your payments to be reported, and also show that you sre responsible and “a good credit risk”.

Step 8

After you have paid off your loan that you revieved via your “New Credit File” seriously consider getting a second secured loan. It should be no problem as the first loan was paid off in a timely manner. You may even be able to ask for an increase in the loan amount.

Step 9

Do not abuse this new credit file. It will probably be your last chance to enjoy good credit. Always plan ahead when making decisions concerning your credit and never allow emotions to get the better of you.

A few important things to remember when starting your “New Identity” and using your “New Credit”

In order to never merge your old credit file with your new , keep this in mind:

Dont apply for credit where you have had it in the past

Do not use prior credit references (even if they are good)

Do not put your spouse on any new applications.

Do not use personal checks from your old banks to pay your new creditors,

Never use your social security number on any new credit applications.

Never use old addresses or phone numbers (references) on any new credit applications.

I sincerely hope this information will be useful to you. If used correctly it can and will help you establish “New Credit” a “New Identity” with creditors and allow you to “Get Good Credit” so you may live the life you aspire to.

Good Luck

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By: mike jones

About the Author:

Franklin

Jennifer G asked:


I have recently contacted RMCN to help me get some false information off my credit report. Does anyone have any experience with RMCN or similar credit repair services they would share (positive or negative)?

Elva

Stuart B asked:


I have recently contacted RMCN to help me get some false information off my credit report. Does anyone have any experience with RMCN or similar credit repair services they would share (positive or negative)?

Andrew

tak3032 asked:


I have really, really, really bad credit anything you can think of. I want to repair it but I noticed almost all of it will be cleared up from my credit report in 3yrs any ways. Should I continue and neglect the payments and wait the 3yrs or should I try to pay them. It’s been about 4-5 yrs since I last paid my creditors. Some have told me to just wait because even if I did pay back all the creditors my credit report would still show that I was past due for so long. I should just hang and wait for the 3yrs and I’ll be good to go.

Horacio

sweetsmile1982 asked:


A good credit report is very important for living a comfortable life of financial freedom but it’s difficult to recover fom a bad credit report once you’ve made a few mistakes. Credit repair companies can be helpful, especially if you allow some time for your file to be worked on before you need it completely done.

Alison

Radiostar73 asked:


Any idea how much it costs to have a credit repair company try and fix your credit report
I know that credit repair is mostly a scam, but I’m curious about the actual amount

Dollie

Jim Hughes asked:


Credit repair has been an effective way of getting rid of late payments on your credit report. It  has become an important part of today’s life, as more and more customers fall victim to bad credit.

It can also be beneficial to someone who has just experienced large medical bills and doesn’t have the means to quit it. Credit repair is a legal way to improve and clean up your credit report.When well done, credit repair can make a world of difference to your financial situation, relieving you from worries that may have been afflicting you for a long time. It is not always easy to be accomplished, but fortunately there are taylor made solutions available to help everyone get out of its own debts.

Credit repair is not a quick process, and you will find that you are able to pay off your creditors given enough time. Credit repair services must follow specific guidelines from the Credit Repair Organizations Act, which are intended to protect consumers. Under this Act, credit repair companies cannot require you to pay until they have completed the services they have promised.

Of course, by paying off old debts and establishing and maintaining new lines of credit, you can begin the process of credit repair yourself. When used properly, credit repair services can not only help you to get caught up with your bills and on the path to a better credit score, but they can also help you to avoid bankruptcy and set you up to avoid credit problems in the future.

Online credit repair can work very well, if you find the right resources. One of the suggestions you will get from an online credit repair service is that you should pay as much as possible on your bills that have the highest amount of interest. With online credit repair, there are many ways you can find counsellors to help you without going through your bank, but these will charge a fee for the services.

Not all credit repair counseling services are legitimate.Therefore, try to search well before trusting one of those. The best approach to credit repair is first to get a copy of your credit report from the credit bureau. The good news is that credit repair is possible no matter how bad a financial situation might have gotten. Nonetheless, the process may take time, determination, and patience. It is however a rewarding process, because you will never look at credit the same way after you are done.



Pamela

Bobby Pavel asked:


If you have recently been turned down for a loan, or for a new credit card, you may be in need of credit repair. Being denied credit is often the result of a bad credit report, which can happen in two circumstances. You have either managed your credit poorly, which has reflected in your credit report; or your credit file has some erroneous items, thus negatively impacting your report. In either situation, it is vital that you undertake credit repair as soon as possible.

TO DO:

Here is a strategy to help with your credit repair. You can do this on your own and can thus repair your credit for free.

•Request a copy of your credit report from any one of the 3 credit bureaus. If this is your first request of the year, you will be given the report for free.

•Once you have your report, examine it closely. You have to study all the entries and mark all those which are incorrect and which are damaging your credit worthiness.

•After you have determined the wrong entries, you have to contact the credit reporting agencies and tell them to delete the erroneous entries from your report.

•Even if there are some correct entries in your credit report, but these are negative in nature, you could still get them removed. This would go a long way in ensuring credit repair. There is a certain time limit for which negative entries can stay on your report (usually between 7 and 10 years). If such time limit has passed, you should write to the credit bureaus to delete the negative items from your report.

•Ensure that all your correspondence with the credit companies and agencies is through registered mail. This way, you have proof of your requests and also when exactly you initiated the process of your credit repair. Keeping a record will also help you in case any deleted entry is re-included in your report anytime in the future.

•Within 30 days, some action should have been taken regarding the wrong items on your report. If the credit bureaus determine that the entries were in fact wrong, they will remove it from your report, thus bringing about the credit repair that you were after.

In case the matter is not resolved to your satisfaction, you should continue challenging the items on your report till such time that credit repair has indeed occurred.

NOT TO DO:

People whose credit score is low or who have a bad credit report often try desperate means to repair credit and thus end up hurting their credit even more. Most of the information available on credit score repair and credit report repair tells you what to do to restore good credit. However, we will tell you about some of the things that you should NOT do in order to repair bad credit.

1.File Segregation: Many credit repair companies lure people with the false promises of bad credit repair by telling them that they can create a new credit file for them by issuing them a new identity. This is known as file segregation. However, you need to understand that such a process is not legal and can even put you behind bars if you try to segregate your credit file to repair bad credit. Thus, no matter what any credit repair company tells you – things like you will not be able to get any loans or even a credit card for the next few years, or that you will not be able to get a job etc; under no circumstances should you agree to the process of file segregation to repair bad credit.

2.Deleting accurate information from credit report: Some credit repair agencies make claims to people that they can repair credit by getting accurate information of a negative nature deleted from their credit reports, thus improving their credit rating. However, this simply cannot be done. Only inaccurate information can be removed from a credit report and not accurate data, unless such data is older than 7 to 10 years. Thus, you should not trust anyone who tells you that they can repair bad credit by removing negative items from your credit report.

3.Advance Payments: No credit repair agency is legally allowed to ask for advance payments. They can only charge for services that have already been given and not beforehand. Thus, you should NOT be taken in by any company who wants high advance payments.



Marcie