The term "Credit Repair" is used widely in our society today. While there is really no such thing as repairing ones credit, because your credit isn't capable of being broken. What you can do is to restore your credit. Why would you want to restore your credit rather than just filing bankruptcy? Many times people chose this method or remedy because they don't owe much and have the time to get all the negative items removed from their credit report because they may be planning on purchasing some big item such as reall estate or maybe a nice new car.
Why then try to restore your credit? If your credit history has a lot of negative enteries such as: late payments, collections, charge-offs and possibly a bankruptcy, this might just keep you from getting that low interst rate loan or mortgage. Many of these types of derogatories can be removed from your credit report. If you were buying real estate and your credit history had a lot of derogatories, that could mean a difference of up to 15% higher interest and many times a higher downpayment, so if you have some time to get your affairs in order then you might want to do credit restoration(repair).
This may sound simple and easy to do, but it can take some time and patience to get the job done. some peopel could do this themselves, but if you start the process and don't continue with it, you more than likely will not get many of the bad items off of your credit report. the hardest part of this job is that you have do contact all three of the major credit repositories. If you only deal with one of the three repositories, that is the only agency that will correct any negative entries that are in dispute. It doesn't stop there. Quite often it may take several letters to the same agency just to get one item removed from you report.
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