It is in fact true that many persons face the very time consuming task of repairing their own credit. Some people have made terrible decisions and have suffered consequences such as income loss, or found themselves overextending. A lot of consumers have fallen victim to unemployment in the past year and with the economy in its current state, its been quite difficult for a lot of good citizens to get back on track.

Some may have late payments. Some people are facing charge offs because they cannot make their regular monthly payments. The restoration process isn’t as difficult as many people may think though. It takes time and consecutive monthly payments, but it can be done.

Initially, you will have to get in your possession a copy of your credit report from each of the three major credit bureaus. These three bureaus are as follows: Experian, Equifax, and Trans Union. It is also often suggested that you pull a credit report from these three because sometimes information is different on each and could be disputed for erroneous reporting and possibly eliminated just by submitting a simple dispute letter! Creditors are not required to report to any of the agencies, and often they will report to just one.

Having all three credit reports on hand will help make restoring your credit easier and more thorough. The FACT Act passed by Congress allows consumers one free copy of their credit report per year. To get your copy, go to annualcreditreport.com. They do not ask for a credit card to authorize or any sort of payment unless you want your official numeric FICO score which is not necessary to evaluate what’s on your credit and how its affecting you.

Once you have all three credit reports with you, go over them carefully and check for any errors like accounts that are paid off but are reported as delinquent or even accounts that have never been opened by you. Sometimes this is a good way to see if you’ve been the victim of some kind of identity theft. Make sure you check accounts that are expired, meaning they have been there for over seven years. If you find these, you can get them removed from your report if you desire by simply calling the credit bureau. Most of the time, the bureau will have a service where you can dispute an error on your report online.

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