Phoenix, AZ -- (SBWire) -- 05/08/2013 --Obtain Credit Reports: Each of the three major credit reporting bureaus allows every person over 18 one free copy of his credit report per year. To address how to fix your credit report, read on. At the top of each report, one will find his credit score; different charges will be itemized on each report. Go over each one, looking for incorrect, obsolete, or fraudulent items. Pay particular attention to the obsolete (old) charges. Late payments, foreclosures, and collection accounts can remain on a credit report for only 7 years; if any are older, contact the bureaus and see if they can be removed.

Take Time with Other Items

Repairing one’s credit reports by going over every item is one solution to how to rebuild bad credit. Make sure that each negative item on one’s credit reports is correct. If there are late payment reports, send the creditors that accepted the original charges “goodwill” letters. These are respectfully worded requests for leniency or forbearance regarding the late payments. Sometimes, if the history with the creditors has been good up until recently, they will comply with the requests.

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Letters of Dispute

Should there be items on one’s credit reports that one wishes to argue, he must compose letters of dispute. As a way to address how to repair bad credit, this may be the most useful. If the dispute letters are effective, it could result in up to 20% of negative items being removed from one’s credit reports, improving one’s overall credit. When writing the letters, be sure to be specific, pointing directly to the item in question. Explain exactly why it is being disputed so there is no confusion on the part of the bureaus. Within 60 days of receiving the letters, the bureaus must render their decisions.

Maintain Credit Repair

The answer to how to fix your credit score for free is that it’s unlikely to be completely free, but it can cost a relatively small amount. One can contact creditors, request reasonable payment terms, and try to get interest rates lowered on some debts without hiring a credit counselor. However, if one is disputing items on credit reports, it will cost time and money, so be prepared for that.

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