In recent years, more people than ever before have found themselves deeply in debt with no remedy in sight. For many of those people, filing bankruptcy seems the only answer. In the majority of cases, however, this is not the case. With some careful planning, skilled help and patience, people can repair their credit.
The first step toward repairing credit is to find out exactly what is owed and to whom. Current copies of credit reports should be obtained from all the major credit bureaus. Free copies of these reports are available if credit has been denied recently, usually within thirty to sixty days. If any inaccurate information is shown on any of the reports, this information should be disputed. This action may be initiated by telephone but it is better to do this in writing for documentation. Credit bureaus must investigate disputes promptly, normally within thirty days. If this time passes and no correspondence or other communication is received, the credit bureau should be contacted again, both by telephone and in writing.
Often credit bureaus will update files and not notify the individual. If this has happened, request a copy of the updated report. Credit...
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