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Credit Repair

Establishing a Good Consumer Report Is Not Only Smart, But Essential For Consumers Wanting a Better Life.

—Article by Daniel A. Gelinas

Derogatory information on your consumer report can severely damage your chances of qualifying for a loan or a line of credit, be it for a credit card, a mortgage or any consumer goods or services. Additionally, it can even affect your chances of getting a good job or a place to live. Today, most banks, creditors, landlords, and a growing number of employers, rely on credit reports for obtaining information and making decisions. In an age when credit files are easily stored in computer files and can be transmitted on request worldwide in a matter of moments, establishing a good consumer report is not only smart, but essential for most consumers wanting a better life.

If your credit report reflects favorably upon you, you are to be commended. If, however, your report is tarnished like that of millions of Americans, which most often is a direct result of misuse of credit cards, than perhaps it's time for "plastic" surgery. Regardless of how bad your current credit record looks, with a sincere desire and a concerted effort to turn it around, in time your credit report will improve. Many creditors are happy to extend credit to people who have taken definitive action to resolve their financial problems and have re-established a history of good credit.

Credit repair is the process of re-establishing and maintaining a good consumer report. First, you should review your credit report to see what it contains. Next, you need to analyze it to determine its accuracy. Then, you must take corrective action. This means taking steps to bring delinquent accounts current, paying off or settling accounts charged to profit and loss, and in some cases, adding a brief statement to explain the reason for a derogatory entry. Taking corrective action may also entail disputing incorrect, outdated and misleading information.

During the repair process, and as soon as possible, you also need to add positive information to your file to reflect a good payment history and to show stability. Lastly, once established, you need to maintain a good credit record. Naturally, this means making timely payments to your creditors. As accounts are paid off, however, it is important to keep a few credit accounts active to ensure that positive information is added routinely. And, by all means, to ensure accuracy, review your credit report annually.

Notice: There are many agencies charging big bucks offering to repair your credit report. There is nothing they can do that you cannot do yourself. We suggest that you not hire these services. In addition, never fall prey to scams offering to repair your credit by providing you with a "new credit file." Misleading creditors to obtain credit is a criminal offense.


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