Repairing the Credit Score.........

[Consultant_Lorens]

Here are 5 essential steps to repair your credit score:

1. Order your credit reports
   Find out what the top three credit bureaus -- Equifax, TransUnion and Experian -- are saying about you. Creditors don't have to report to all three credit bureaus, so they typically report to the credit bureau to which they also subscribe. You can order a credit report from each bureau for free once a year through annualcreditreport.com.If you've been denied credit, insurance or employment because of your credit report, you are en***led to a free copy of your report from the reporting agency.
   
2. Examine your reports carefully
   Nearly every consumer has an error on at least one credit report from one of the major credit bureaus, says Rhode. Credit bureaus generate your report on information they receive from your creditors; they don't verify.
   
3. Double-D strategy -- dispute and document
   Remember, a bad report costs you money. So, it pays to be thorough! You can either complete the dispute form provided with your credit report or write a letter. Clearly identify each mistake and state why it's wrong. A recommendation is to send a photocopy of your credit report with the mistakes circled to the reporting credit bureau. Include copies of supporting documents.
   
4. Solve and dissolve debt
   Now's the time to devise a spending plan that reduces your debt and sets you up to pay on time, every time.
   If you're having difficulty making payments, be proactive. Call your creditors and negotiate to keep your accounts current and from being reported as delinquent or "bad debt." You can ask for reduced monthly payments, or even change due dates to balance out your monthly bills.
   
5. Add stability to your credit file
   You can also work to add positive information and show stability in your credit file.
   You may have been denied credit because of an insufficient credit file, yet you have credit. Some creditors -- such as, travel, entertainment, gasoline card companies, local banks and credit unions -- may not report your credit history to the credit bureaus. You can try asking the credit grantors to report your account information and monthly payment history to a credit-reporting agency.
   
   Lastly, open a savings account at your bank. This shows creditors that you are working to save and that you have reserves to repay debts.

I hope this will help many in repairing their credit scores.