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Credit Repair 101

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This guide will give you basic information regarding your credit, and credit report. You will find useful information that if followed will not only improve your credit score but your financial health as well.

1) Credit Repair Information

There is a lot of hype about credit repair. Get the facts about self-help VS professional service, repair scams, repair truth and how to get a free report.

2) Fair Debt Collection Practices ACT or FDCPA

The Fair Debt Collection Practices Act (FDCPA) regulates debt collection actions. It lists prohibited collection practices, acceptable communication from a debt collector and recourse for violation of rights.

3) Improving My Credit Score

First you need to acquire credit reports from all three credit bureaus. Clean up credit report errors, become current on debts, pay off debt, make no credit applications, do not close accounts and make a debt plan for no more debt are the key elements to improving your credit.

4) How to Read A Credit Report

This is about credit-reporting agencies and your credit report. It provides information regarding the major areas of your credit report. Identifying information, credit history, public records, and inquiries. What errors are and how to resolve them.

5) Credit Score Personal Information

Your name, date of birth, social security number, address, telephone, employers, and spouse are listed. Most reports contain some errors-inaccuracies that are potentially harmful.

6) Credit Report Inquiries

What is the difference between soft inquires and hard inquires? What is the impact of inquiries on my credit score? These questions are answered here.

7) 5 Steps to Credit Repair

The five major steps to credit repair.

Debt Validation Letters

The FDCPA requires that debt validation notices be sent explaining your responsibility in a request for validation. A debt validation letter must be sent within 30 days to the collector and they in turn must return proof of validation.

9) Credit Report Repair Scams

What are the warning signs of a credit repair scam? If it is too good to be true is it fraud?

10) Fair Debt Collection Practices ACT or FDCPA

This regulates credit repair company practices. You must receive information in writing. Paying up front or as you go requests are prohibited along with false advertising. If you or someone you know has been a victim there is help.

11) 12 Credit Score Killers

This is a list of activities to avoid. Bankruptcy, judgment, foreclosure, defaulting on a loan, charged off account, collections account, non-payment, late payment, high balances, multiple inquiries, only one form of credit and closing of credit cards impact your credit score.

12) What is a Charge Off

Avoiding a charge-off by getting caught up is important to your credit score.

13) The Negative Impacts of Credit Collection Accounts

Here you will find guidelines to deal with collection accounts. If it is not yours dispute it, and if the collection account is yours how to deal with it. If the account is a sold debt or older than seven years what you need to know and important information regarding paying a collection account.

14) Consumer Credit Counseling

When choosing a credit-counseling agency it is important that it be a reputable agency. What are nonprofit counseling, in-person counseling and Internet counseling?

15) Improving Credit Score by Borrowing Credit

What is buying credit and how does it work? What are the risks and problems associated with buying credit and a recommended course of action are elaborated on.

Related Posts

• Debt Validation Letters
• The Negative Impacts of Credit Collection Accounts
• Credit Report Inquiries
• 5 Steps to Credit Repair
• 12 Credit Score Killers
• Improving My Credit Score
• How to Read A Credit Report

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