Credit Repair - Do it yourself
February 2, 2008
Here’s a nice article on reporting bad debts to credit bureaus which I thought I should share with you folks. As mentioned in the article, creditors usually have a very good relationship with credit bureaus. When a person defaults on a loan or a credit card payment, this information is recorded by the credit bureaus since it would be passed by the creditor to the various credit bureaus. There have been cases were creditors have filed reports incorrectly. In such cases, an individual can dispute the credit rating as per the provisions of the FCRA or the Fair Credit Reporting Act.
Using the information obtained from Equifax or Experian, an individual can dispute incorrect reports filed by creditors. This assumes importance these days since there have been widespread reports of identity theft and frauds taking place due to credit repair work being outsourced to agencies. Hence an individual might want to take the safer route by doing the credit repair himself. This site on credit repair has an informative article on Do it yourself credit repair.
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