by Victoria H

Created on: March 21, 2009

I've learned over the last 4 years just how important it is to have good credit. I myself have had ups and downs with my credit scores and even hit ROCK bottom!

PLEASE DO NOT PAY A CREDIT COUNSELING AGENCY OR AN ATTORNEY TO DO THIS FOR YOU! YOU CAN DO THIS ON YOUR OWN FOR MUCH LESS! AND IT IS 100% LEGAL!

Pull each credit report
Equifax - Most Widely Used Credit Reporting Agency

Transunion
Experian

Print out each report
Go through each credit report with a pencil/pen and a highlighter.

Know the statute of limitations for your state. The statute of limitations means how long before the money you owe to someone is considered non-collectible. In Maryland its 3 years from when it first becomes delinquent.

*DO NOT PAY ANY DEBTS THAT ARE PAST THE STATUE OF LIMITATIONS IN YOUR STATE*

It will make it look like a new debt on your credit report and it is no longer collectible. Let it fall off your credit report (usually will be 7 years from the date of delinquency). Regardless if you owe this, they CANNOT LEGALLY come after you for it!

Ok after you have finished looking over all the negative things on your credit reports its time to DISPUTE the items on each report. The best way to dispute things is by Certified Mail. Here is the Catch, If the Credit Bureau CANNOT verify the debt in 30 days, they HAVE to DELETE it! If the Debt Collector even gets back to them one day late it CANNOT be re-reported!
Each credit bureau has only 30 days to verify the information in question and 45 days to get back to you. If you have not heard back from them in the 45 days allotted you will send a Follow Up Dispute Letter. All of the negotiating should be done in writing and make sure you SAVE EVERYTHING! Keep all your information organized so you can find it when you need it! If you feel that a debt is not yours DON'T give the Collectors any information about you. Ask them to send you any signed papers/contracts that they have, and if they cannot prove that the debt is yours you can tell them that to the Credit Bureau's when you dispute the information with them! Never send a letter with your signature, either type it or print it!
If you want to send the information you received from the Creditors! MAKE COPIES NEVER SEND ORIGINALS!

Wait! That's right, wait for the credit bureau's to get back to you!

In the first few pages, they will show you what has been "Deleted" or "Updated/Verified". If you still have negative things on your credit report wait 60 days and re-dispute the negative information. You can

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