Many of us searching for the fastest way to credit repair just don't understand the process or know where to start. Often we become so frustrated with the notion of having bad credit that we give up. It's not that bad; credit repair is possible and doesn't take forever.
First you must be willing to get what you want. No one sitting by the sidelines worrying about life will make any changes. In order to reclaim your good credit there are 3 things you must understand; TransUnion; Equifax AND Experian.
Those are the 3 credit bureaus, more like large depositories of personal information, which you will have to deal with to reclaim your good credit. Understanding how the process works will help you fortify a plan and follow through with your credit repair.
1. First, you have three different credit reports, created by three diverse credit bureaus and they contain select information placed there by your creditors. Your creditors will forward their report of your payment history monthly, bi-monthly or quarterly. These reports from all your creditors are summarized and rated and will determine your credit worthiness.
2. You can request and receive 1 free credit report from all 3 credit bureaus once per year. This allows you to review your credit report for any inaccuracies and this is vital to your credit repair.
3. Upon finding any inaccuracies, you must write a letter to the credit bureau, explaining how the negative information is wrong or in other words, dispute the negative information.
4. The credit bureau has 30 days from receipt of your letter to correct or corroborate the information and send you an updated credit report.
Now this really is a summation of what you need to do for credit repair, but this explains your foundation for getting started. The credit bureaus will not make it easy to remove data, but with a good understanding of your rights and persistence for credit repair you've won half the battle.