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Credit problems can happen to anyone; particularly in the existing recession of the economy many people have encountered troubles with their credit. We all want to keep our credit excellent but sometimes things happen that are unforeseen and out of our control. Credit troubles can make life difficult because it can be almost impossible to obtain credit and if you do manage to get credit you may be charged a higher interest rate or you may have to put down more security.

But you can take some actions to repair your credit. First off you will need to get a up-to-date credit report from each of the three credit reporting agencies. TransUnion, Equifax and Experian are the main three in the United States. You are entitled to one free report each year from each of them or you can pay a fee and get a merged report that comprises all three.

When you've got your credit report, you will need to check it carefully for errors and inaccuracies. It has been estimated that as many as 79% of all credit reports hold mistakes and errors so it is improbable that your report is totally correct. You can dispute anything out of the ordinary or anything that is incorrect.

The credit reporting agencies are not concerned with the truth of their information. The fact is they make their money by selling the information, it does not matter to them if it is true or not. If there are mistakes on your credit report you are the only one who suffers so it is your responsibility to make sure that your credit report is truthful and correct.

The Fair Credit Reporting Act or the FCRA was enacted to safeguard consumers. It gives you the right to dispute anything that you discover on your report that you deem to be incorrect. You have to submit a formal written dispute and after receipt of your dispute the credit bureaus have 30 to 45 days to either authenticate the accuracy of the information or delete it from your credit report.

As a consumer you actually have a benefit when it comes to disputing credit listings. Since the credit companies are only paid to impart information it is actually a loss to them when they have to validate a dispute. Therefore if you put forth a good case, you have a very favorable chance of getting the information removed.

When you are disputing the inaccurate listings it is also smart to start rebuilding some good credit. Make all payments on time and try to pay down the balances on any debts that you owe. A large percentage of your credit score is essentially how much credit you have obtainable compared to how much credit you have utilized. If you want a high credit score you need to have access to credit but not be utilizing it.

Rebuilding and repairing your credit is something that can be accomplished you just need to take a few steps to get started. Make sure that your financial situation like your current job and income are solid and then take the steps to repair your credit and your economic life will soon be back in order.

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terry

Your credit score is one of your best asset. For more information concerning america credit repair, or even about local credit repair visit my blog.

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