HOW TO AVOID CREDIT REPAIR FAILURE

Easily put, credit repair is the process of getting inaccurate information removed or corrected on your credit report. This is important because it provides a fair and complete picture of your finances, taking steps to boost your credit score, and resolving to avoid credit problems in the future.

It's much easier to hire a credit repair company to do it for you or you can do it yourself. If you choose to go the DIY route, be sure you know your rights and avoid the 16 mistakes listed below.

Mistake #1: Failing to Check Credit Reports

Mistake #2: Procrastinating

Mistake #3: Avoiding Credit Education

Mistake #4: Not Keeping Documentation

Mistake #5: Disputing Too Much

Mistake #6: Disputing Online

Mistake #7: Disputing with Boilerplate Language

Mistake #8: Sending Uncertified Mail

Mistake #9: Falsifying Documents

Mistake #10: Transferring Credit Card Balances

Mistake #11: Missing Payments

Mistake #12: Canceling Credit Card Accounts

Mistake #13: Applying for New Credit

Mistake #14: Paying Debt Collectors

Mistake #15: Hiring a Shady Credit Repair Company

Mistake #16: Filing for Bankruptcy

KEY TAKEAWAYS

• Know your rights under applicable credit laws.

• Obtain and read your credit reports once a year and look for errors.

• Only dispute information that you believe is wrong.

• Keep records of everything and get everything in writing.

• Avoid disreputable credit repair companies.