Below are the laws that go with credit Consumer Credit Cost Discloser Restrictions On Garnishment Credit Repair Organizations Credit reporting Agencies Equal Credit opportunity Debt Collection Practices Electronic Funds Transfers		Below are the laws that go with reporting credit The Fair Credit Reporting Act  The Fair and Accurate Credit Transactions Act of 2003 "Red Flags" Rule  Educational Material Staff Opinion Letters (1997-2001) Selected Commission FCRA Actions User and Furnisher Obligations
Equifax       P.O. Box 105873      Atlanta, GA 30348      http://www.equifax.com      (800) 685-1111	Experian (formerly TRW) P.O. Box 2104 Allen, TX 75013-2104 http://www.experian.com  (888) 397-3742		Trans Union Consumer Disclosure Center P.O. Box 1000 Chester, PA 19022 http://www.transunion.com  (800) 916-8800 or (800) 888-4213

Rule #2 Reading The Credit Report And Disputing

When reading over the information inside your credit report you need to understand the information that you are reading. At this time you need to make a file for that particular credit reporting agency, this will help you figure out which agencies credit file you are working on.

For starters we want to do each credit report one at a time to better understand each file, so take one file from the pile of reports you have and start with only one company. Get a sheet paper or make a word document and write down each detail of your file as you go through the file, this will help you start to dispute inaccurate information in the file you are working on.

As an example start with Experian (using online files)

When you look at the first page of Experian's credit report you will see personal credit report from Experian, your name, your report number, an a report date. Make sure that the name is correct if it is not write it down on paper as name not accurate. Make sure you social security number is also correct, and all information that pertains to your real life is correct, then read over the report and check for identity theft. If you are a victim of ID theft you will need to make a Sheriffs report and get a copy of that report. You will in turn have to send that report to the company that the ID theft has accrued and to the credit reporting agency's for proof when you dispute the item in your report.

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Now we want to go to the next part of the file: Potentially Negative Items

 

This is the most important part of your credit file, why, these are the items that are keeping you from getting extensions of credit.

If You Can Not Do This Your Self There are a few companies that will help you correct credit errors on your report for a small fee, but it is better than having to deal with the stress of doing it on your own. Lexington Law   Ovation Law   CreditAgenda Read More On Credit Issues Credit and Charge Cards   Bank Products   Frauds and Scams   How to Establish, Use, and Protect Your Credit   Plastic Fraud   Your Credit Report   Your Credit Rights

The first thing we need to look at is the Public records part of the file, these are the most damaging part of your credit. If you have any Public Records in your file write them down, find the original creditor that the debt is for, and check the rest of the file for the same debt being collected on. Make a list called public record for each record you have and start a file for each public record. Doing this will help you dispute other information in your file.

After you have started a file with one public record, you need too trace the debt from the original creditor to the public record. To do this you will have to have the company's name that you owe money to that started the file in your report (the original creditor). 

Do your best to make files on each and every item that a company has put inside your file.

After you have traced the public record to the original creditor, check your file to see if there is a current collection being sought against you for that debt in the public file. If there is, it is illegal to collect the same debt from two sources, write the company's names down and start a dispute record.

You will later have to dispute the record in the file, do not start a dispute with the credit reporting agency's until you have verified that the public record is true and has already been through the court systems.

Why, remember the first part of the information you read, public records are the most damaging part of your credit file. To clean your file you will need to know if the information is true, so you have to research the information in your file a little bit. If the public record is not true you will want to dispute the public record, the most damaging part of your credit file.

If the public record is true you want to make the other creditor collecting on the public record go off your file. First you have to find out which one  is the legal holder of the debt, the court or the creditor.

To get these off your credit file you will have to depute the information for accuracy, your best bet to get the files off of your file is to research them first and get documentation from the court or the creditor. Which ever one is the legal holder is the one that will stay on your file until the time limits run out.

To get the inaccuracy file off you will need to prove to the credit reporting agency's that the information is inaccurate, to do this you will need the documents that you received from the court or companies that you researched. It is the only legal way you can clean your file and the same concept works with each and every item that is negative in your file.

There is only few ways you can clean your file, let the time limit run out, pay your bill as per your contract with each creditor you have in your file, or settle on your debt. Remember that it is 7 years if you let the time run out, and that is only for the ones that are not a public record, public records are 10 to 12 years.

Please note that you will have to dispute each creditor that is on your file if inaccurate, it is  best if you do this by mail so you can send the credit reporting agency's proof  that the Item is inaccurate. After the information is checking and finally disputed, which will take about one month, you will need to settle on the rest of your debt owed, pay the company your installment agreements, and pay the court items with interest to get you file even cleaner.

Next we will explain how to settle your debt.

 

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Rule #3 How To Settle Your Debt

The next step on how to clean your credit report is to start settling on your debts, this is the hard part because it takes money up front to do this.

Money is the only way that your credit report will become cleaner, why, well you owe a debt to a company, which is why you have that negative item on your credit report from their company

To satisfy this debt the fast way you will have to settle your debt with the company that you owe money to. Too do this you will have to call the creditor that owns (the most current creditor) your debt and talk to them, but first you will need to have a budget to settle on you debts.

Make a monthly budget for each creditor starting with the highest amount you can afford, you will have to do this on a monthly bases are you will go broke trying too settle on all your debts in the same month. When and after you make a budget to settle on you debts, call the first company that you want to settle your debt on.

Ask the company if they would settle on your debt for 50% of what you owe to the creditor, sometimes they will go lower or higher than your proposal, if they say yes you will want to do a MoneyGram or Western Union so you have a hard copy you can print of the transaction, which you will need to dispute the item on your credit report.

After you have done this with all of your creditors, make sure that the companies you settle with own your debt first, and make sure there are not more than one company collecting on the debt at the same time as when you settle. if there is more than one creditor collecting on the same debt dispute the items the same way as above.

 

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Rule #4 How To Rebuild Your Credit

 

To rebuilt your credit you will have to spend a little time researching the best way to rebuild your credit, it is up to you how you want to rebuild your credit, but do not try fill out as many credit applications as you can. Why, well you will get an inquiry on you report for each application you fill out, this is a red flag to creditors, the best way to rebuild bad credit is to start establishing your credit again.

 

To do this you will have to start making a budget and fill out some third party credit company applications that guarantee your approval and report to all three major credit reporting agencies. To you this might mean that you will have to get a secured credit card, you will have to put money down for the card,  but in the long run you will rebuild credit and prove to creditors that you are making a valid effort  to pay your bills. This is what they call character in the credit world, you character is very important to creditors when they are going over your credit application.

 

The best way to rebuilt is to spurge your self with a few toys from CreditAgenda credit card area, while you are at this site you will have to scroll to the bottom right hand side and click on the credit card area. Doing this will bring up three credit cards one is U.S. Gold Card a basic club type membership card which will let you buy items at www.fiftydown.com a member store.

 

The Second one is CREDILIFE a unique product that may take you a few minutes to wrap your head around, but once you understand it you will love it. By financing the First Aid Financial Kit an installment account will automatically show up on your credit reports with Experian, Trans-Union and Equifax within 30 days. The kit is $99 down/$49 month for 12 months. Make 6 on time payments and Credilife will automatically send you a $1000 unsecured revolving credit card that also reports to all 3 credit bureaus. 

 

The Third one is Sky Secured Visa Card, this is a secured card that gives credit to people with the deposits they put down, but unlike most cards that are secured you are not paying 21% interest on the card

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