Complete Guide to Credit Repair – Part 1

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Credit Repair
This is part 1 of a 5 part series

Part 1 – Credit Reporting Agencies
Part 2 – What’s in Your Credit History?
Part 3 – Correcting Credit Report Errors
Part 4 – Rebuilding Your Credit
Part 5 – Quick Fix Methods & Other Tales From the Crypt

Introduction

The credit reporting industry has gone through tremendous changes in recent years. Most of these changes are the result of pressure brought to bare on the industry by Congress and public interest groups. Needles to say, these groups felt that the consumer wasn’t getting a fair shake when it came to credit reporting and the effects of it. And rightly so with a history replete with stories of incorrect negative information on the credit files of unsuspecting citizens un-removed information and an industry that turned a deaf ear to outraged individuals.

This information package deals with some of the more important changes in the credit industry and is directed at equipping you with the necessary knowledge of how the industry works, how to effectively get the system to work for you the consumer and to prepare you with the facts that can turn a request for credit to a gratifying experience.
This report is not designed to encourage any illegal activity on the part of anyone reading it. This must be stated up front because there are so many unscrupulous peddlers of mayhem out there who are only to quick to take your money while providing inadequate information of the illegal sort.

It is really simple. It is not possible to get a completely new credit file overnight without doing it illegally. Anyone who says it is, is lying. We will discuss some of those credit repair scams in some detail later on to inform you of what to watch out for in the section “If It Walks Like a Duck.”The principals laid down in this report are built upon the foundation of solid information known by the insiders of the industry and unfortunately, little know or understood by the average consumer.
Credit is a wonderful asset for personal financial management and a necessary tool for business growth. It is imperative that every citizen knows the inner workings of an industry that has such a profound affect on all our lives. It is to this end that this information package is designed.

Silence is never golden when it comes to your credit report. And just because you ignore it doesn’t mean it will go away or heal itself. You have to be engaged, plugged in, in control and informed to maximize your ability to change it for the better.

That process begins with you getting a copy of your credit file from the agencies that are oh so willing to give it out to everyone else it seems. This is a simple process that can be accomplished as easily as writing a letter and requesting it.

First figure out who has it. If you’re like most people it probably can be found at one and probably all three of the “Big Three” credit reporting agencies. They are Equifax, Experian and TransUnion. There are several smaller local credit reporting agencies but most are connected with the Big Three.

The cost of your credit report varies from state to state and can be found at their respective web sites listed below as well as their addresses. It is usually $8.00 or less.

Experian

Your Experian credit report and score delivered online for only $15.00.

A copy of your credit report can be ordered by phone at 1-800-397-3742 and can be paid for by Visa or MasterCard. It will be mailed to you within 48 hours. You can also contact them by writing to:

Experian National Consumer Assistance Center
P.O. Box 2104
Allen, TX 75013-2104

A printout form can be accessed at their web site.

You can also receive this report free if:

You have been denied credit, employment, insurance or rental housing based at least in part on info in your Experian credit report.
You’re a resident of Colorado, Georgia, Massachusetts, Maryland, New Jersey or Vermont.
You are unemployed, a victim of fraud or on welfare.

Note: they have however discontinued their voluntary program of a nationwide complimentary credit report each year.

Equifax

They offer multiple type of products. Click here for the complete product list

You can receive a copy of your credit report:

On-line Visa or MasterCard
By phone 1-800-997-2493
By mail Check or money order

Equifax Information Service Center
P.O. Box 740241
Atlanta, Georgia 30374-0241

TransUnion

On-line Visa or MasterCard
By phone 1-800-997-2493
By mail Check or money order

TransUnion Corporation
Consumer Disclosure Center
P.O. Box 390
Springfield, PA 19064-0390

This letter of request must include some necessary information or they won’t give you the file. They will want your full name including your middle name and be sure to include Jr. and Sr. and so forth when applicable. Also include your date of birth, SSN, current address and former address if you’ve not been at your current address for at least five years. TRW wants a list of your full addresses for the past five years. Include your spouses name if you’re married and your daytime and evening phone numbers with area codes. Also, send along a copy of a billing statement from a utility bill, your drivers license or any document that reflects your current name and address. Don’t forget to sign the letter so the credit bureau has your signature on file and they’ll want it for security purposes.

Tagged:

agencies, bureau, consumer, credit, credit history, Credit Repair, credit report, equifax, experian, experian credit report, free, history, management, money, rent, rental, score, transunion

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May 04 2008 09:20 pm | Credit Rating and Credit Repair and Credit Reports

One Response to “Complete Guide to Credit Repair – Part 1”

Money Hacks Carnival #13 — Money Saving Hacks Edition | Moolanomy on 21 May 2008 at 3:32 am #

[...] Complete Guide to Credit Repair – Part 1 posted at No Debt Anymore .org — Jimson shares practical information on how to repair your credit. This is part one of a five part series. [...]

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