Free Credit Repair Advice

CreditRepairInfo.org is a public-service website operated by Searchlight Systems, Inc. Specializing in the finance industry, we provide information and resources for the average consumer who is facing financial challenges. Since our information is derived directly from consumers as well as professionals, we are uniquely qualified to give insightful information. Additionally, we strive to provide information that is helpful today, rather than something that worked three years ago.

Whether it’s fair or not, many important decisions people make about you are based on your credit score:

• Ever wonder why you were denied credit? Most credit card companies, banks and other finance companies want to see a credit score of at least 620 before offering to extend any credit.
• Ever wonder why your premiums are so high? Many insurance companies (such as health, life & auto) use your credit score when deciding what your premium will be.
• Ever wonder why you didn’t get the job you were qualified for? More and more companies are now doing background checks into your financial situation before offering you a job.

Credit repair is a legal way to improve your credit score. In fact the law has provisions to help you do this:

• The Fair and Accurate Credit Transactions Act (FACT Act) was signed into law in December 2003. The FACT Act allows consumers to get one free comprehensive disclosure of all of the information in their credit file from each of the three national credit reporting companies once every 12 months. You can get your free report at https://www.annualcreditreport.com. Don’t get scammed by companies offering you “free” credit report if you buy or signup for something. https://www.annualcreditreport.com is a Federal Government mandated site that is 100% free.
• If you see any errors in your report, you are legally entitled to dispute it. This is especially important if you have been a victim of identity theft.

In order to start repairing your credit, you should understand how credit scores are calculated. The process is time-consuming, but can be done by yourself and for free:

1. Review your credit report from all 3 agencies.
2. Dispute any errors that negatively affect your score, such as an account you closed but the bureau thinks it is still open. In some cases, you may need to contact the original lender to request that they send an account update to the buerau.
3. Close credit lines that you no longer use. However, you should be avoid closing accounts that have been open a long time. For example, credit cards that you’ve had for many years actually have a positive effect on your credit score (because it shows you have a good credit history with that lender). As a general rule-of-thumb, any account over 5 years old should be left open.
4. Make sure that all accounts that are past due is paid. If accounts are past due, it will keep lowering your credit score each month it is overdue.
5. Start establishing a history of on-time payment. Many times, people with low credit scores, don’t actually have any outstanding balances! In such cases, your credit score is low simply because you have not established a history of on-time payment. In such cases, apply for and use a credit line, and make sure you pay it off on-time every month. After a few months of this good payment history, you should see a significant increase in your credit score.

Is Credit Repair Hard? How Quick Can I Repair My Credit?

Repairing your own credit is not hard - however it takes time, patience, and research to do effectively. If you choose to do this yourself, you can find all the information you need on this website.

We also understand that some people don’t have the time or would rather hire a trained professional for such an important task. If you choose to have a credit repair company perform your work, we suggest looking a reputable credit repair company and make sure that you completely understand the terms of their service as well as the payment options.