by: Michael Saunders

You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services. They all make the same claims:

* “Credit problems? No problem!”

* “We can erase your bad credit — 100% guaranteed.”

* “Create a new credit identity — legally.”

* “We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”

Do yourself a favor and save some money, too. Don’t believe these promises. Only time, a conscious effort, and a personal debt repayment plan will improve your credit report.

The FCRA provides a list of rights and procedures that will assist you in clearing away negative remarks and reestablishing your creditworthiness - regardless of your previous credit history. By understanding your rights and using the law to your advantage, it's possible to remove bankruptcy, judgments, late payments, collection accounts, charge-offs, and other negative information from your files permanently.

The first step is to obtain copies of your credit reports from each of the major credit bureaus. You can find the address of your local credit bureau in the yellow pages under "Credit-Reporting Agencies." If you have been denied credit within the past 60 days, you can obtain a free copy of your report by enclosing a photocopy of the denial letter along with your request. Be sure to include your full name, date of birth, Social Security number, and addresses for the past five years. If you have not been denied credit within the last 60 days, you may purchase a copy of your report from each credit bureau. In California, for example, the cost for a copy of your report is $8 from each of the major bureaus. The cost may vary in other states.

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Winning Your Disputes With Credit Bureaus - Knowing Your Rights!
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