what is the best way to repair a credit report?

Answer 1

Just pay off any bills (current or delinquent). You must keep that up to improve your credit score. Repairing a credit report?! LOL!!! What a laugh!

Answer 2

It seems that there is no end to the misinformation out there about credit repair. Of course money lenders want you to believe that your credit cannot be repaired, and they are correct. Credit "repair" is usually a scam. Credit restoration is usually legitimate. There are three legitimate credit restoration companies in the United States. So do your due dilligence and check out any credit repair or restoration company if you are looking to use this type of service. But you need to ask yourself this question, "Why do banks and other money lending organizations want me to believe that credit cannot be restored?" The answer is very simple, money. If you believe that you cannot restore your credit then you will do nothing about your credit score and they can charge you higher interest rates on any loans they write for you. However, if you know the truth about credit restoration, and you are able to get your credit restored to a point that you qualify for the so called "A-paper" loans, they can't charge you as much interest and they make less money.

When a car dealer sells you a car, they don't want you to qualify for that 0% interest loan, they make no money that way. They want you to pay that 29.9% interest rate that is the maximum the law will allow. Why, because they make more money!

So do your due dilligence and read my article that offers 10 ways to know if the credit repair service you are considering using is a scam or if they are legitimate. It can be found at this url: http://groups.google.com/group/managingyourcredit

If you have any questions regarding your credit issues you may email me at [e-mail]

Answer 3

Unless you have false or misleading entries on your report, there's no way to "repair" it except to re-establish your creditworthiness. The good news is that this doesn't take as long as it used to. If you can keep your payments in good standing for a year, you'll find yourself back in good graces with creditors. There is TONS of competition out there for lending, and it's not in their (ahem) "interest" to block you from obtaining credit.

However, don't expect to reach to golden plateau of the 700s for at least three years after you've had a collection or 90+ days late.

If you have seen your credit report, and there are entries on there which are just plain wrong, then you need to take action. NOW. You can challenge the validity of each of those entries with the reporting agency (Experian, Trans Union, or Equifax). Unfortunately, I have experience with this as I had a dentist's office mistakenly turn me over to a collection agency (their office worker didn't apply my charge card payment to the account, thus their software automatically sicked the collectors on me). It's a nightmare to clean up a mistake, and if it really is a mistake, the best place to start is with the company that originally reported the negative information. In my case, I was able to call the dentist's office and have them call off the attack dogs, but it still took me two months to get the information removed from all three agencies. I was fortunate that the dentist admitted the mistake and was helpful in clearing up the error. If the creditor doesn't want to admit the mistake, it can be a nightmare.

FYI -- don't except them to be proactive in clearing your name. File a challenge with the reporting agencies, who will then contact the creditor in question. If they get no response within 30 days, they MUST remove the negative info because that's the law.

Good luck, because this is a task that I don't wish upon anybody.

Answer 4

Start paying your bills on time and pay any outstanding debt. There are also credit repair companies that specialize in this. You could try this site for help. They helped my husband. http://creditrepair.divinfo.com