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You may be contemplating do it yourself credit repair, but are unsure where to start. The following article will introduce you to the basics of diy credit repair.

Simply stated, repairing your credit involves looking for inaccuracies on your three credit reports and disputing them with each credit reporting agency, and adding positive accounts to your credit to help increase your score. The first step is accomplished by requesting your credit reports from the three major reporting agencies – TransUnion, Equifax and Experian. You may order one free credit report each year. Then, read over the reports for errors and send off a letter to the reporting agency identifying each error and demanding that they correct the error.

The Fair Credit Reporting Act outlines the rules of how the credit reporting agencies can report information. A powerful piece of legislation, the Fair Credit Reporting Act was enacted by the FTC to protect consumers from unfair credit reporting practices. In plain language, the Fair Credit Reporting Act addresses how credit bureaus and furnishers (aka creditors) can handle credit reporting, and outlines what rights consumers have in regards to their credit reports.

Credit Repair companies want you to hire them to repair your credit, but there are better ways to repair your credit. The consumer can do all the steps to credit repair, without any specialized training or credit repair experience. To get started all you need is a good resource on credit repair. I have yet to locate any type of free credit repair resource that is worth using. Most free do it yourself credit repair information is inaccurate, incomplete or designed to sell you another product, such as credit repair services, which are commonly not effective, and when at their worst, a total waste of money.

Your best bet is to invest some money and buy a comprehensive do it yourself credit repair system. The credit repair systems that are the best offer regular updates and some type of direct support to answer your questions. What this means is that purchasing a book from the local bookstore will give you information that is not current and no support as you go through the process.