Written in partnership with DN News Desk
Photo Credit: Alex MillerIt’s becoming increasingly important to maintain a good credit score. However, people often feel more intimidated than they should do so themselves. In this article, entrepreneur and credit repair specialist Arthur Miller comes to their rescue and tells them how to repair bad credit on their own.
Get your current status report
Once you decide to take matters into your own hands, begin by getting detailed reports on your current and past credit scores. People often find it difficult to believe that they can avail reports themselves. The truth is, you are entitled to do so by law. You can avail your annual report by writing to eligible online platforms.
Consult your friends who may have fixed their credit score themselves in the past. Check out the platforms they suggest. Compare all options in terms of their legality, vintage, testimonials, and features. You can also call these agencies to understand the process of receiving your report. Once you get the report, it’s time to analyze it.
Look for discrepancies
Checking a credit report is like separating the wheat from the chaff. It takes time. But in the end, you are grateful you did it diligently.
There have been instances where people have been able to spot mistakes in some of the information mentioned in their credit reports. Some may include payments you haven’t made, some might not be updated, and yet others might carry incorrect payment details, etc.
Use a highlighter to mark them categorically, and then transfer them to an excel sheet on your device. Finding discrepancies opens new channels of negotiations and may help you feel more in control.
Dispute errors
Once you have a list of discrepancies, you can then mail your disputes to the concerned authorities. You can keep it simple by sending an email, with the list as an attachment for proof.
The authorities take anywhere between 35-40 days to investigate and respond to your dispute. So make sure you don’t add to the waiting period by sending lists that fall short on accuracy and research.
Clear all dues
The most common reason why most people delay leveling their credit score is that they are ill-equipped to handle it immediately. However, since no one likes to carry the weight of an unnecessary burden, most individuals work towards improving their credit scores. So, if you have come this far, make sure you clear all your dues.
Fixing your credit report on your own may not be as easy as counting 1,2,3, but with Arthur’s guidance and your willpower, it can surely be made easier.
