FAQ: How can I repair my credit?

Personal credit report repair is a major concern for many people. It can be a long and frustrating process. There is no really quick fix. There are techniques used by individuals and professional companies to achieve results. This article briefly covers some of the most frequently asked questions about personal credit report repair.

Can I repair my credit by reviewing and correcting my credit reports?

Yes. Visit www.annualcreditrepot.com to view and print free copies of your personal credit report. Repair and improvement in credit score can be achieved by reviewing the reports for inaccuracies, disputing obsolete and unverifiable information.

Can I repair my credit by applying for lots of credit cards?

No. The credit bureaus store information about how many times and with whom you have applied for credit. A person who applies for numerous credit cards looks desperate for credit and their scores are affected negatively. Personal credit report repair sometimes involves removing inquiries made by companies with whom you have applied for credit.

Can I repair my credit by applying for a secured credit card?

While applying for a secured credit card will not negatively affect your credit report, it is not generally considered to be a part of personal credit report repair. A secured credit card is one which is secured by a deposit into a savings account at a bank. The cardholder can charge up to the amount that is in the savings account and may at a later time be approved for a higher credit limit, if payments are made on time and if balances are paid off on a monthly basis.

Can I repair my credit by applying for an EIN?

This is a technique that is not recommended by law firms that specialize in personal credit report repair. An EIN or employer identification number is a number used by the IRS to designate a business. If you do not own a small business, you should not apply for one. Some companies which advertise personal credit report repair recommend that a person apply for an EIN and use that number instead of their social security number when applying for credit. It is illegal to provide false information on a credit application.

Can I repair my credit by waiting?

If you wait for bad credit to be removed from your personal credit report, then it will take a long time and you will not improve your credit scores. Even people with the worst credit can obtain a secured credit card, have a friend or family member with good credit list them as a co-applicant and work to achieve personal credit report repair. If you do nothing, your scores will not improve.

Can I repair my credit by hiring a credit repair professional? If you hire a reputable personal credit report repair company, preferably a law firm, then you can repair and improve your credit scores. The process will be less frustrating and probably faster than if you try to do it yourself.

Can I repair my credit?

Yes. You can learn do-it-yourself techniques or you can hire a law firm that specializes in personal credit report repair. You are not stuck with bad credit. There are books and software programs, credit repair kits and lots of free information. It will take time and patience if you try to do it on your own, but it can be done. For more information about personal credit report repair, visit Credit Fix Solutions.