Credit repair seems like a very tedious process but actually it is not. Yes, there are a few steps which need to be completed in a serial order. But then even you can complete this process with a bit of knowledge about the whole process. You need not look at professional credit repair services straight away. So what are the steps involved in the credit repair process?
Your Credit Report
This is the first step in determining whether you have incorrect entries on your credit report. According to the FCRA you are entitled to a free copy of your credit repot every year. If you need extra copies of the credit report you can get them at an extra charge. You can request a copy from all three major credit bureaus. This can be done via email as well as postal letters. The earlier one is much faster than the latter. Once you get a copy of your credit report then you need to enter the second step.
Scrutinizing The Report
After obtaining the credit report the next step is to scrutinize the entire report in detail. This might be a slightly tedious process. But this is one of the most important steps in the credit repair process. You need to go through each and every entry. There might be details about bank accounts which do not belong to you. This might be a case of identity theft. You need to note down all such instances where the details are not yours. Then comes the next step of disputing the incorrect entries.
Disputing
This is the most tedious of all the processes. You need to send a detailed letter to the credit bureau informing about the incorrect entries in the credit report. This letter should also include the necessary documents which support your claim. Please bear in mind that you only need to send the copies and not the originals. The originals need to be kept with you. If you are not very apt at writing such letters then you can always look for free formats on the internet. There are several websites which have the necessary format for such letters. They might be charged or even free.
Professional Services
The best part about using professional credit repair services is that you need not do anything. The only thing needed on your part is to let the credit repair services know about the bad credit report. They will take it from there on and complete all the processes. They will first secure the copies of your credit report from all major credit bureaus. Then the professional credit experts from the company do a great job of scrutinizing your credit report. The disputing service is also done in excellent order by them. You can simply sit back and relax. The entire process will seem automated.
Which is Better?
The choice is up to you. If you are well content with going through all the steps yourself, then you need not spend money on a professional service. On the other hand, if you are not comfortable with these steps, then it is better if you hand it to a professional. It is better to let a professional handle the steps rather than making a mess of the whole thing. |
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