Rebuild Poor Credit - Fix Bad Credit - Re-establish Good Credit

Bad credit sufferers are at record highs. Don't be one of them.

Credit problems -- you are not alone (even bankruptcy). However, it is up to you alone, to re-establish your good credit. This is important because a poor credit rating affects your purchasing power, employment consideration and ability to get home and business loans. Here is what you can do.

Contact the 3 major credit reporting agencies and request a copy of your credit report for free or a small fee:Equifax, ExperianandTransUnion. Generally, credit history information, remains for seven years (bankruptcy, 10 years). If any of the data is outdated or inaccurate, request that it be removed. The credit reporting agency will contact the creditor who has 30 days to respond and confirm the disputed items. If they do not verify it, the data will be deleted. If the creditor verifies that the information is accurate, you can write up to a 100-word statement explaining your side of the story and have the credit reporting agency include it in your credit file. For any accounts that do not show on your credit report that you pay on time, you can send account statements and copies of cancelled checks to show your payment history and the credit bureaus may add them to your file. View and download a free credit dispute letter.

Contact your creditors.
Creditors may remove derogatory information from your credit file in exchange for full or partial payment toward the debt. They may also "re-age" the account and show no late payments. Call the creditor directly, not the collection agency.

Obtain a secured loan.
If you have a passbook savings account or can open one, ask the bank to give you a loan against that money. They keep your passbook until the loan is paid in full. Make sure the bank reports on the loan to the credit bureau.

Get credit in your own name.
If your spouse has had financial problems, apply in your name alone. Use our Customized Card Finder to list all credit cards you are most likey to qualify for.

Get a secured credit card.
Many banks will in exchange for a sum of money deposited with them, give you a credit card. Use it and make your payments on time to improve your credit rating quickly. Here is a list of current top secured credit card issuers.

Find willing creditors (unsecured card issuers).
Many creditors understand that credit worthy individuals may come with a blemished credit history. These creditors usually charge account set-up and program fees in order to provide you with an unsecured credit card and your credit rating will improve even faster. Here is a list of current top unsecured credit card issuers.

Make all of your current debt payments on time and you are well on your way to having rebuilt a solid credit file!