1. Be aggressive in repairing your own credit.
Credit repair is not going to just happen. Bad credit is not something you can ignore, hoping that it will work itself out. Things like credit card charge offs, accounts that went to collections, and late payments will stay on your credit report for 7 years. But once bills have been paid off it is much easier to have them removed. The easiest way to remove a charge off is to send the credit bureau a challenge letter, also called a dispute letter.
2. Dispute the items you want removed.
The Fair Credit Reporting Act gives you the right to dispute any negative items on your credit report. This means you can challenge repossessions, charge offs, collections accounts, bankruptcies, foreclosures, judgments, tax liens, and anything else you disagree with. The thing to keep in mind is that the law says you are allowed to dispute anything, so go for the charge offs for sure.
3. How to dispute items on your credit report.
First contact the credit bureaus and request a free copy of your credit report. You are entitled to one free report each year from each bureau. So as long as you have not already requested one this year, you can get a free one. Send each bureau that lists the negative item a letter telling them to remove the specific item you want removed, and why. Make a photo copy of the credit report and circle each of the items you are disputing. Put a number next to each circle, that number should correspond to a number on your letter. This makes it fool proof for the bureaus to figure out which item you are talking about in your letter.
4. The investigation process
There is nothing for you to do now but sit back, relax, and wait. The credit bureaus have 30 days to investigate the items you dispute. That time starts when they receive the letter. They will contact the original creditor notifying them of your dispute and asking them if they agree or disagree with you. From there the credit bureau must provide proof through documentation that the entries are valid. If the entries can not be validated within 30 days from the time they receive the letter, it must be removed from your credit report.
5. Following up
It is critical that you follow up with the credit bureaus. A trend that is starting to emerge with them is they simply don't remove items that have not been validated, or sometimes they don't even conduct an investigation. So if you don't get a letter within a couple weeks after the investigation should have been complete, make a call to them and find out what happened. Whatever they say, ask them to send a letter for your records.
So lets recap what you need to do. First, get a copy of your credit report. Second, review your credit report and make note of any items on the report that you want removed. Third, write your dispute letter then circle and number each item on the report that you are disputing. Fourth, sit back and wait for the investigation to be completed. Fifth, follow up if you have not received an answer within 6 weeks.
Follow these simple steps and you will be well on your way to easy credit repair. To make things even more simple, order a set of proven credit repair letters from an expert. The reason you should do that is their letters have been proven to work, because they have used them successfully to dispute items for their clients. A well written dispute letter will practically guarantee success.