Analyze your Reports

Getting your credit repaired fast requires that you focus on the things that you can change. To do this, you need to have all three credit reports in hand so you know what you are working with. You will also need a pen.

I am going to briefly go over what to do with your credit reports that you pull from the three credit bureaus: Experian, Transunion and Equifax. First, separate the items by the length of time that they are delinquent 30, 60 and 90 days.

If you have items that are generally paid on time but have no more than 1 overdue payment mark these as goodwill. You need to contact these creditors by mail with a request to remove the overdue payment as a favor. This is known as a goodwill letter.

You will need to submit a different type of letter request for the items that you marked with 30, 60 and 90 days. You will be submitting investigative requests for these items. The creditors and/or collection agencies have 30 days to respond to your requests and verify that these items are valid. If they do not you may then submit a dispute to the credit bureaus to have these items removed from your credit reports. Again, if you need any clarification let me know.

6 thoughts to “Analyze your Reports”

  1. Well said. I haven’t started to establish my credit yet, and I will keep this in the back of my mind when I start having problems with credit. But I am hoping I don’t. However, people make credit look scary. Thanks for sharing the post though.

    1. Thank you! If you are old enough to have credit I recommend pulling your credit reports asap just to ensure that everything is accurate. Credit is really not that scary, but it is important. You can pull all 3 credit reports from annualcreditreport.com once a year for free. Along the way if you have any questions feel free to ask, I am available always. Thanks again.

    1. You are very welcome. Yes, more people should monitor their credit. I think that as parents that is one thing that we should make a priority to teach our children, the importance of your credit score. A healthy credit score can save people thousands of dollars over the years. Thanks for your feedback!

  2. I’ll be migrating soon and one of my friends indicated that it would be good to start building my credit early. So far I’ve been procrastinating, but you raised some good points, so perhaps I should really start looking into this. AnnualCreditReport.com doesn’t work for my jurisdiction, but Equifax and TransUnion in Canada seem to provide reports by mail. Thanks for helping me finally get going!

    1. Procrastination can be your worst enemy in all things including credit. Don’t forget about your Experian credit report, a lot of creditors favor that credit bureau and it is in your best interest to monitor all 3 of your credit reports. Along the way if you have any additional questions feel free to ask me. I know that if you get a credit report direct from the credit bureaus they charge a fee but if you have an adverse action letter dated within 60 days you can get these reports for free. Thanks for the feedback!

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