How to Restore Credit Fast

To improve or restore your credit scores, you must initiate changes to your credit reports. While there are ways to gradually raise your scores, such as consistently paying your bills on time or maintaining a low debt ratio, taking steps to edit your current credit reports can quickly improve your scores. The three nationwide consumer reporting companies (Equifax, Experian and TransUnion) are required by law to provide consumers with a free copy of their credit reports once every 12 months. You should become more familiar with what's contained in these reports and understand what needs to be addressed.

Instructions

1

Call 1-877-322-8228 and order your free credit reports, or go to AnnualCreditReport.com and order online. You can also request a free credit report by mail. Print the Annual Credit Report Request Form (see Resources), complete the form, and mail it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

2

Inspect each credit report. Look for errors, items that should have been removed and items you might be able to change. After a specific amount of time, certain negative items can be removed from the report, yet sometimes they remain on the report after this time has elapsed. You'll need to take steps to remove the item.

3

Resolve outstanding negative items. If there are negative items on your report that are indeed yours, such as an unpaid doctor bill, you may be able to settle the dispute and have the item removed sooner. Even if the item is not removed, having it resolved will help improve your score. If you apply for a loan later on, you may be asked to explain negative items on your report. If that negative item has been resolved, it will look better.

4

Write a letter to the consumer reporting company and inform it of any inaccurate information in your report. The agency will investigate your claim; if you prove to be correct, the negative items will be removed, which can improve your score. Contact information for the three credit companies can be found at AnnualCreditReport.com.

5

Write a letter to any creditor that has included negative information in your report that you dispute. Creditors may have a special address where correspondence about such a dispute should be mailed. The creditor must file a notice of your dispute with the credit report company if another report is made.