10 Steps To Repair Your Credit

10 Proven Steps to Repair Your Own Credit

Equifax:
PO Box 740256
Atlanta,GA 30374
1-866-640-2273

Transunion:
PO Box 2000
Chester, PA 19016
1-800-916-8800

Experian:
PO Box 2002
Allen, TX 75013
1-800-493-1058

These steps are proven to have helped thousands of people repair their own credit.

Important

  • Do not dispute online. 
  • Letters/Templates are located in the group files. Read them word for word and update accordingly.
  • The 609 letter packet is available for $10. Click here.
  • Do not dispute closed accounts in good standing. They are helping your credit.
  • The 7 year mark is from the date of first delinquency of the original account. For an example, see #1 here.
  • For New York residents only: Paid collections or accounts charged to profit and loss are removed after 5 years. You may need to contact the credit bureaus. Notify them that you are invoking the NYS statutory provision for specific paid collections.

Before attempting steps 5-7, check your state’s Statute of Limitations (SOL) on debt. This is how long a creditor has the ability to legally sue you. If you are still within the SOL, be prepared to offer a settlement if the account is verified as yours and is reporting correctly or Skip to Step 8 for those accounts.

Feeling overwhelmed? Don’t have time to restore your own credit? We can help. 

STEP BY STEP INSTRUCTIONS

  1. Pull free copies of your credit reports:  Annual Credit Report.com is best place to pull your reports because you get all three for free. Also, if you haven’t already done so, sign up with Credit Karma to track changes in your report as you complete this process.
  2. Start analyzing your reports: Circle the negatives (charge offs, late payments, collections). Make a note of when you fell behind on each and when the 7 yr mark is up. If you don’t have access to a printer, save the reports to your computer and write the negatives down or put them into a separate spreadsheet.
  3. Clean up your reports: Request removal of all incorrect/outdated demographic information. Call or send a letter to remove all previous (old) addresses, incorrect names, phone numbers, employers from your credit report
  4. Dispute any negative inaccurate items: Dispute items that are beyond the 7 year mark . Also look for accounts with errors or accounts that don’t belong to you and dispute directly to the Credit Bureaus (not online).

Feeling overwhelmed? Don’t have time to restore your own credit? We can help. 

REMINDER!

Before attempting steps 5-7, check your state’s Statute of Limitations (SOL) on debt. This is how long a creditor has the ability to legally sue you. If you are still within the SOL, be prepared to offer a settlement (Step 8) if the account is verified.

5. Dispute: If you decide to dispute charge-offs/collections to request verification, dispute with the Credit Bureaus by sending a dispute letter/template. If you decide not to dispute, skip to Step 8.

6. Debt Validation: If the item was verified, you have a right to request validation from collection agencies and verification from original creditors.  If you decide not to request these documents, or they come back validated/verified, skip to Step 8.

7. Send 609 Letters: For charge-offs or collections with a zero balance, send a 609 letter. This is a request for the Credit Bureau to verify the accounts on your reports. 

 

OFFER TO PAY/SETTLE:

8. Send a Pay For Delete (PFD):  Send this letter for unpaid accounts (only when you’re prepared to pay). This is where you offer to pay for deletion of the negative account from your report. Feel free to offer a settlement amount if you can’t afford the full balance or if the account is several years old. 

9. Send a Goodwill letter: For late payments, charge-offs (paid or unpaid) and/or paid collections, send a GW letter. This is a request for goodwill adjustment/removal. Send either of these letters to the account owner (original creditor or collection agency) shown on your report via certified mail.

10. Judgment dispute letter: For Bankruptcies, dispute with Lexis Nexis if you see an error, then dispute with the credit bureaus.

Feeling overwhelmed? Don’t have time to restore your own credit? We can help. 

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