The Credit Repair Makeover Essentials

Remember...knowledge is power. You must become informed. You must know where you and how you got here.  Take time to gather your thoughts before you proceed.  Do you have all the facts?  All your various documents are available?  If so let's continue.

Key Steps To Take:

  1. Get your credit reports. There are three major credit reporting agencies. Please get a copy of each.
  2. Go over the various documents we offer as examples on this site. These documents include cease and desist letters, letters of dispute... and more. We suggest you read about your rights under the law at The Fair Credit Reporting Act website: The FCRA.
  3. Begin applying for Sub-Prime Credit Cards. Choose a couple. We know this sounds contrary, but you do need to get a positive of line of credit started. These folks can help. If you already have current credit cards in good standing then move on to the step.
  4. Finally and most importantly, begin to get control of your personal finances. This includes creating a budget, savings, and maintaining your checkbook accurately.

Credit Report In Hand?

Congratulations, you're ready to start taking action to restore your credit history! This is going to be tedious and frustrating. But if you exercise patience and a positive attitude you will succeed beyond your dreams. Open the report to review and look it over thoroughly. Find the most obvious errors and circle them, such as name, social security numbers, or address. Next get a highlighter and begin shading items that are inaccurate, such as accounts that aren't yours, accounts reported in error, account amounts not accurate etc. Make your marks and don't rush this process. And most of all please have fun! You are beginning to take control of your situation.

How It works in a nutshell... In order to have false or incorrect items from your credit file corrected or removed, we use the rights granted us under The Fair Credit Reporting Act (FCRA). You have the right to dispute any items that are incorrect. This is our protection from creditors running amuck with our credit history.  The power is achievevd through the use of our Credit Report Dispute Letters found below.

Once you have initiated a written credit report dispute with a Credit Bureau, they have 30 days to verify the validity of your dispute. Once this 30 days has expired, they must under rule of the FCRA, remove the disputed item. (Beware, if an item is not verified and removed from your file, it can eventually reappear) Items such as address, or wrong social security numbers, which are not credit related items on your file are the easiest to get corrected. Items which are actual credit accounts are the ones most difficult to have corrected or removed, unless you are diligent! Again remember the FTC is telling you that you should handle this process yourself! CreditMania is here to guide you in your journey.
 

Negative Entries:

Of course the below are just examples of negative entries.  And the amount of time they stay on your credit report varies by state.

Lawsuits and Judgments can remain on file for 10-12 years in most states. And are renewable, and can last forever.
Bankruptcy can remain there for 10 years from the date of filing.
Tax Liens can stay on your report for 10 years.
Most all other negative marks can stay on your file for 7 years from the date of last activity.
Inquiries are to be rotated off after 2 years.

The Credit Report Dispute Process:

This is where the rubber meets the road.  You need to take each credit file and look over the marks you have made and begin composing your first credit report dispute letter. We have an example for you to follow. And we highly recommend you rewrite them in your own words. Its best if you use handwriting on a legal pad or use your home pc is that is easier. It used to be that if you use a computer, you are more likely to appear to be using a credit repair company or book and will probably be handled with delay tactics such as, labeling your dispute frivolous. Not anymore. We do recommend that you stay away from using the phone to make disputes or the online dispute forms provided by the credit reporting agencies.  This sounds like working or cheating the system.  But in reality we are once again stating only what the FTC affords everyone.  The right to dispute errors.  The rules are on your side so please act on them.

Beware we know there is a Moral Dilemma as this process can lead to consumers using the laws awarded them to seek legitimate information being removed from their credit files. CreditMania knows that this is often a moral and ethical dilemma that must be evaluated by each consumer personally. Understanding and accepting circumstances, along with the fact that even in our world today, most people are afforded a second chance, CreditMania is making this information available to all who need help with their credit history. Ultimately we do not condone the use of this information in a fraudulent manner. Be responsible and you will succeed.

The Documents You Need:

We cannot emphasize enough that these are well tested and very successful documents.  They get results.  Be sure to use them and don't rely on the online dispute process.

The Credit Report Dispute Letter: use this letter as your initial dispute tool with the credit bureaus.

The Follow-Up Letter: use this letter as a follow-up to the initial dispute letter. The 30 day period has expired and you are exercising your rights.

Follow-Up to Frivolous Claim: use this letter if a credit bureau tries to delay your disputes by claiming your dispute is frivolous.

Settlement with Original Creditor: use this letter as an offer to settle debts that have been sent to a collection agency. With this letter you negotiate negative items from your credit file in return for payment of the debt.

The Incredible Cease & Desist Letter: use this letter to stop a collection agency from attempting to collect a debt. Make them stop harassing you, it's your right. Deal only with the original creditor.

Dispute Inquiry: use this letter if any inquiries appear to be unauthorized. Too many inquiries can lower your credit score.