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You Can Fix Your Credit
You can Have Negative Items Repoved From Your Credit Report And Begin To Rebuild Your Credit.
You will see and hear advertising telling you " we can remove negative items from your credit report". The truth is they cannot deliver on these promises. "Only time, a deliberate effort, and a plan to repay your bills will improve your credit as it's detailed in your credit report"-FTC Website- Only the passage of time can remove negative information if it is timely and accurate. However, if it is past the statute of limitations or is innaccurate than it is your right to dispute the information and have it removed from your credit report. Below is a summarized version of how you can fix your credit on your own. If you are not ready for "Do it your self Credit repair" visit this link: Bad Credit Repair - Repair Bad Credit guides.
Step 1
 Request a copy of your credit report from www.annualcreditreport.com it's free. Reveiw your report and look for errors or information that dosen't belong to you on the credit report. If you find any errors request the bureua to fix the mistake. Dispute any negative accounts that are more than seven years old unless it is a bankruptcy.
Step 2
Repay outstanding debt as quickly as possible. Start with the higest interest rate first. Buy only the essential food (not fast food) and gas. Use the rest of your paycheck to pay your ballances. If you have an extra vehicle sell it to pay a balance or borrow from a helpful relative and pay them back right away.
Step 3
If your debt is substantial begin your own debt conlsolidation. Contact your creditors and inform them that you intend to pay the debt but you need to have the interest waived. If possible transfer balances to a low interest account. Or offer to settle the debt for half of what you owe. Negotiate a settlement with them. You may want to contact a non-profit credit-counseling organization and work out a debt consolidation plan. Do not use a service that uses the term debt consolidation loan.
Step 4
Rethink your spending. If you cannot control your spending, then close your credit card accounts and cut up the cards. If you can exercise self control, keep the credit cards open, but don't use them until step 5. Practicing new spending habits needs to be part of your credit repair stategy. If you do not change the way you spend and think about credit you may end up in the same situation again.
Step 5
Begin to re-establish good credit. Pay all utilities and rent on time. Plan a budget. Keep your bank account maintained. Also keeping the same residence and job is a good sign to the credit bureau. If you were able to keep your credit cards open, use them to buy things instead of your bank card but pay the credit card off before the bill comes. The longer you have a card open and continue to pay on time the better it is for your credit score.
 
Step 6
Open a new credit card. Keep in mind it may be hard to get a good interest rate at first. Look for the lowest interest you can get with zero or low annual fees. Once you have had bad credit you may need to pay an annual membership fee in order to get a card. Or just get a gas credit card. Pay these promptly and in full monthly if possible to establish good credit. You may also consider a secured credit card instead of an unsecured credit card.

 
Credit Bureaus
Innacurate Information
Inform the reporting agency in writing about innacuarate information. State the facts and if possible documents (copies only) that support your claims.
Investigation
Consumer reporting agencies are bound by the law to complete an investigation on your behalf (usually in 30 days) unless your dispute is considered frivolous. Upon completetion of the investigation they must provide you with results in writing as well as a new copy of your credit report if a change has been made. You may then request that a copy of your report be sent to anyone who received a copy of your report for employment purposes in the two years prior to the corrections.
Self Help
Developing a Budget
Make a realistic assesment of how much money you make and how much you spend. Write down all your fixed and fluctuating expenses. Whatever the difference is shoud go to pay your debt.
Creditors
Make contact with your creditors to work out a modified payment plan before you are sent into collections. A debt Collector must honor a written request to from you to cease further contact.