What to look for in your Credit Report so you can repair bad credit

To repair bad credit you will need to look in all three of your credit reports and check for errors. Companies providing credit facilities may use all three credit bureaus, some only one, so to make an accurate assessment of your credit situation, so you can fix bad credit, you should view all three reports.

Don't assume the entries in your credit report are accurate. The data is compiled by humans, from information supplied by humans, and human error can slip in.

You must study the files very carefully. Make a note of any errors - no matter how small. Some of the information included is there just to identify you, such as your full name, current and previous address,  your date of birth, your spouse's full name. Make sure it is accurate - to the letter. Similarly any social security number or tax reference number should be correct.

Then check all data referring to your past and present credit accounts, for accuracy. Check the merchants names, the date credit accounts were opened and closed, account name and number, credit limit, amount of credit limit used, and that the repayment history is accurate.

You need to identify any negative information in your credit report, so that you can act on it. This negative information can take two forms.

It will either be indicative of the steps you need to take in managing your credit and your overall financial situation. so that your score can improve over time, or it will be inaccurate, in which case you can dispute the entry with the credit reporting bureau and/or the credit providing company direct. Removal of the entry from your credit file should improve your credit score.

How to repair credit and raise fico