March 2007

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DIY Credit Repair: Fix your own bad credit

Do-it-yourself credit repair checklist

Credit repair
Like
many renovation projects, credit can be repaired on a do-it-yourself
basis. Roll up your sleeves and get started by using this worksheet.

1. Order your credit reports.

• Go to www.annualcreditreport.com, which is the only authorized source for consumers to access their annual credit report online for free.
• Call toll free 877-322-8228.
• Complete the form on the back of the “Annual Credit Report Request” brochure, available from the FTC, and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

2. Examine for errors and calculate the exact amount owed.

• If there are errors on your credit reports, see the work sheet “How to fix mistakes on your credit report.“

3. Create a budget.

• Write down everything you spend money on and then cut the fat. Use this worksheet for making your own spending plan.

4. Prioritize bills and pay them off.

• Consistently paying at least the minimum due every month is crucial to building up your credit score. Use the debt paydown calculator to organize.

5. Find products to rebuild credit.

• As debts disappear, or following a bankruptcy, look for products such as secured credit cards to help give your credit score a boost.
• Make sure they report to the credit bureaus, not all do.

Do-it-yourself credit repair checklist (Bankrate.com)

Like many renovation projects, credit can be repaired on a do-it-yourself basis. Roll up your sleeves and get started by using this worksheet. 1. Order your credit reports.

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Written by Adam on March 21st, 2007 with no comments.
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