Repair Credit Report Help

I have a very bad credit record, which started when i was younger?

now that i know the errors of having a credit card so young can damage credit really bad for an unresponsible kid, i want to fix it , but im not sure how i got a credit report that shows mostly stuff that was charged off already and a huge student loan and several other deliquent accounts are there easy ways of repairing this or consolidations maybe the student loan is probably my biggest problem

Public Comments

1. Get a copy of the book below. Please do not call any of those rip-off credit repair places, they are scams. However, I promise that the advice from this book, when APPLIED to your life, will transform your whole life. DH & I follow it & listen to Dave's radio show to stay motivated. It has rocked our world.
2. you can consolidate, but this will only help your payments it will not help your credit record.. making full and timely payments is the only way to increase your credit score..
3. I would get your free annual Credit Reports at AnnualCreditReport.com from the three credit reporting agencies, TransUnion, Experian and Equifax. Go through each report and make sure that everything is accurate. If anything doesn't look right to you like a credit card or a loan you don't remember getting, call up the customer service of that reporting agency and get it fixed. I would then look and see which credit cards you don't need any more and transfer/close that card. You shouldn't have more than 2-3 credit cards. I'd call up each credit card you owe money to and ask if they will lower your interest rate. Some will lower it a few percentage points because they'd rather you pay off your card sooner than risk you go into bankruptcy.
4. Talk to the Student Loan people. I would not consolidate a student loan with any other debt because you are getting a lower interest rate from the Student loan than you'll ever get from a bank or other lender. If you have more than one student loan, you probably can consolidate them but again, you'll need to talk to the student loan people. You may also be able to get a lower interest rate. I have see them work with people that are behind and have them pay an extra $50 a month or something, until it's caught up but you have to talk to them and find out what your options are. Website links for student loans below but they have 800 on there and you will be way better off to call them and work out a payment plan. The student loan stuff is not going to go away. They won't charge it off and you can't get rid of it in bankruptcy. Every month that goes by that your not making payments on it is just hurting your credit more and more.
5. I think you should definitely consolidate. Try the below website to comparison-shop
6. Credit repair does not require the assistance of a service. You can take a number of steps to help repair your own credit. Although there are numerous credit repair companies offering their services for a fee, savvy individuals can do their own credit repair with a few simple steps. The advertisements placed by credit repair services touting their experience, qualified personnel and other qualifications can make the process seem daunting but it is really quite simple. The basic steps for do-it-yourself credit repair include: Request a credit report from all of the three credit reporting agencies Carefully review all of the information on the credit reports Dispute any mistakes on your credit report and document every step of the dispute process Devise a debt reduction strategy Establish good credit strategies now and carry them into the future The first step of do-it-yourself credit repair is to request a copy of your credit report from Equifax, Experian and Trans Union. These are the three major credit reporting agencies and individuals are entitled to one free credit report annually from each of these agencies. Requesting a report from each of the three agencies is important especially if you believe there may be a mistake on one of the reports. The information on all three reports will be similar but mistakes may only appear on one of the records. Once the credit reports are acquired it is time to review all of the information carefully. Each item on the report should be examined and discrepancies should be noted. In reviewing this information, highlight anything that seems suspect and review your documentation to verify the validity of the item. After compiling a list of mistakes, it is time to officially dispute any inaccuracies on the credit report. The dispute processes will most likely involve filling out a dispute form or writing a letter detailing the alleged mistake. In both cases documentation supporting the validity of the dispute will be required. For specific information on how to officially file a dispute, contact the credit reporting agency directly. Once the dispute process begins, document every aspect of the process. This is important because dispute resolution is a time sensitive process with specific guidelines for how quickly a dispute must be resolved. The agency may be required to remove a disputed item from a credit report if they do not respond in a timely fashion. When a negative credit report is a result of a poor credit history and not mistakes, only time will properly repair the credit. The long term credit repair strategy for financial errors in judgment includes devising a debt reduction strategy which will demonstrate diligence and establishing sound credit strategies which will be viewed favorably in the future. Credit reporting agencies do not hold grudges. Credit lapses are removed from credit reports after set periods of time and a history of good credit is rewarded with a solid credit score.
7. In order to build up credit and establish a good credit, you must show a number of stabilizing attributes. Most notably, your report must prove to the lender that he will get his money back. Here are some suggestions: OPEN A BANK ACCOUNT Open a bank account and use it responsibly. This is the first step in establishing a financial history. CO-SIGN One way is to piggy-back onto someone who already has a good credit history established and is willing to co-sign. Once the co-signing has occurred, you simply make payments on or before the due date. In time you will have established a credit history. SECURED CREDIT CARD Apply for a credit card. Shop around and only apply for a card if you can meet the lender's requirements. Responsible use (spending within your budget and paying your bill on time) will help you build a good credit history. DEPARTMENT AND GASOLINE CREDIT CARDS Since gasoline credit cards are not revolving (cannot carry a balance forward month-to-month), often they are easier to obtain than regular credit cards. Similarly, some department stores offer revolving credit for a specific purchase and this is sometimes easier to establish. It is also a great way to establish credit. This website can be very useful for you: http://www.howtoestablishgoodcredit.com/Credit_Articles/index.php?page=1&category=7