Do It Yourself Credit Repair Service - Tutorial & Guide

This free credit repair tutorial simply provides a simple step-by-step guide which you can implement to achieve better credit score and thus improved credit history.

Can I really Do It Myself?

Although this information is free and thus does not require as much money as using an agency, I must warn you that, DIY credit repair does involve some minimal cost.

Although, you can repair your credit yourself without paying anyone, it is essential that you pay attention to detail in order to spot any irregularities during the process. This tutorial is essentially for people who have bad credit as opposed to people who have no credit history (especially cash buyers).

Step 1 - Obtain A Free Credit Report

As mentioned in other parts of this website, every credit consumer is entitled to at least on free credit report from the three main credit bureaus - namely Transunion, Equifax and Experian.

Most financial institutions report to either one of these bureaus and that's how your credit history is built. Almost every credit transaction you undertake is noted down, whether late payments on your credit cards or loans, bankruptcy, missed mortgage payments, auto loans down to the shops where your credit cards are used. This way any potential lender can check to see if you are credit worthy before they risk their capital on you.

To claim your free annual credit report, you can use the following telephone numbers to contact them:

Transunion: 1-877-322-8228

Equifax: 1-800-685-5000 Email: Cust.Serv@equifax.com

Experian: 1-888 397 3742

Experian UK:  44 (0) 870 241 6212

If you do not wish to wait, click here for an instant free credit report online.

Step 2 - Decode Your Free Credit Report

Once you have joined any of the services recommended above, you will be able to download your report as well as your credit scores (if you ordered those as well). It's now time to analyze your report.

Normally, the credit report should come with a free credit report analyzer which will tell you which items are most damaging to your credit score.  For instance, you have to note if any of the bureaus have a negative item such as late credit card or loan payment which is false or a debt that doesn't belong to you, has been listed. All these can also help if there's a case of identity theft, something which is so rampant these days.

 Essentially, you'll need to identify and list both the negative and positive items for each credit report according to "the most damaging". Here's a list of some of the items that may appear on your report starting with the most damaging:

1. Bankruptcy
2. Foreclosure
3. Repossession
4. Loan Default
5. Court Judgments
6. Collections
7. Past due payments
8. Late Payments
9. Credit Rejections
10. Credit Inquiries

 If any negative item is recorded against you, you should have been notified according to the  Fair Credit Reporting Act. The FCRA is an American federal law that regulates the collection, dissemination, and use of consumer credit information. According to this law, any creditor that places a negative item against you should notify you. If that has not been followed, you can pressurize the creditor to remove that item reminding them of their violation of this law.