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Bad Credit And How You Can Repair Your Credit

Most people do not understand the effects of bad credit on our lives. When we have bad credit it actually costs more to live.

Bad credit makes it difficult for us to purchase a new car, house, or get any type of financing. Or if we do get financing, then well get charged high interest rates. Having a bad credit rating will cost you more money.

Once you have bad credit you will realize just how it can derail your lifes plans. There are simple steps you can take to change your credit rating for the better.

The first step is to obtain a copy of your credit report, review the report, and make notes of what you want to dispute.

After you have identified all incorrect or inaccurate information that has been entered into your report, contact the credit bureau that has supplied you the report and dispute the negative information.

The credit bureau must reinvestigate your dispute and advise you of the results of their investigation.

If the item in question cannot be reverified, it must be deleted. If the creditor does not respond within a reasonable period of time, then the disputed item must be deleted from your report.

If you get nowhere with the credit bureau, contact the creditor who supplied the information and demand that the derogatory information be deleted. If you do owe money, get the creditor to work with you. Offer the creditor a cash settlement provided the creditor deletes the negative notation from your credit report. You can offer the creditor a fraction of the amount owed.

Once you have erased all derogatory items, you can start improving your credit rating. You can improve your credit report by paying your bills on time. When you make all your payments on time, you will show that you can handle credit responsibly.

Collins DeConle is the owner of Visit his website to learn more about how you can repair your credit yourself.

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