There are innumerable ways on how you can do credit restoration. The key point is that, you should always have a better understanding on what have been the causes and what stages you are going through.
The first thing you should be able to accomplish so as to have the right direction on credit restoration, is to have your credit reports handy. While you are dealing with your credit file, you can easily check on the negative items that you have in the report such as late payments, charge offs, bankruptcies and others.
You also need to check on the accounts that may appear on your credit file, but do not belong to you. More often, mistakes are being committed with the credit report and it is more advisable to locate the errors all by yourself.
After you have gathered negative data, that may affect your credit score, and found some errors, you may have two options to deal with them:
1. Contact the credit bureau and the information provider through a letter.
You need to tell some things about the negative data and errors that have to be deleted or changed. Enclosing the necessary documents on the letter will be very helpful to prove that your dispute is reasonable.
Upon submitting it, the credit bureau will have to investigate on that specific concern. If it was proven that those errors are made and those unwanted data should be removed, then, you should be given a copy of the new credit report. This way, you will be able to restore your credit because you already have a clean credit report.
2. Make an arrangement with your lender.
If it is true, that you have a record of late payments or charge offs, it is advisable that you talk to your lender and have an arrangement with them. It will be possible to pay for an amount less than what you owe from the creditor. Hence, the account will be deleted from your credit report. Therefore, keeping your credit report clean and accurate would be a key to credit restoration.