The best way to repair your credit is to do this by yourself. Have you ever heard of credit repair companies and firms? While there are good ones, about 90% of them will lie to you through their teeth and try to suck the life out you.
This could be tolerable enough if they can deliver what you originally asked for but mostly they just vanish into thin air as soon as you hand over your down payment and leave you on your own.
Going to credit repair companies should be your last resort, that is if you can’t handle the pressure anymore or your mind is too muddled up to even try fixing things. If this is not the case, then it is time for you to jump into action fast.
You must realize that having a bad credit record is not good for you even if you don’t have an immediate use for it. It will be like a stamp on your personality, it won’t go away.
First, pay for a copy of your credit report from all credit bureaus namely: TransUnion, Equifax, and Experian. You need this in order to pay your credit and it gives you a bigger picture of how much you actually owe and what needs immediate attention. Study the codes in your credit report file to decipher what it means. Pay attention to charge offs because it can seriously impair your credit abilities for a long, long time.
Charge offs are debts not paid for extended period of time and your creditor declared it as “uncollectible”. Please note that even if you paid for this charge offs after they have been filed by your creditor, they may appear as “paid charge off” and still hurt your reputation. The best way to take off this unsightly remark is to strike a deal with the creditor because he is the only one who can take it out and put everything in writing.
Charge off is really a big hurdle to conquer so congratulate yourself for job well done. This is a good sign that your efforts to clean up your credit is doing well. Your next to settle are late payments and judgments which are really easy ones to clear up. Again talk to your creditors and strike a deal with them.
Explain your current financial status and when they feel your sincerity, they would most probably help you with your credit repair. If you will have trouble along the way, talk to Consumer Credit Counseling Services.