Your credit report is important because lenders, insurers, employers, and others may obtain your credit report from credit bureaus to assess how you manage financial
responsibilities. For example, lenders may use your credit report information to decide whether you can get a loan and the terms you get for a loan. Insurance companies may use the information to
decide whether you can get insurance and to set the rates you will pay. Employers may use your credit report, if you give them permission to do so, to decide whether to hire you. Telephone and
utility companies may use information in your credit report to decide whether to provide services to you. Landlords may use the information to determine whether to rent an apartment to you.
Bad credit report repair, you don't need a third party to fix it. Their ability to change the information that appears in your credit file is no different than anyone else! This is because only creditors are only allowed to make changes on what appears on your credit report. So there is no reason to spend money on a third party credit repair company to fix it.
Many states have laws regulating credit repair companies. State law enforcement officials may be helpful if you’ve lost money to credit repair scams. Don’t be embarrassed to report a problem with a credit repair company. While you may fear that contacting the government could make your problems worse, remember that laws are in place to protect you. Contact your local consumer affairs office or your state Attorney General (AGs).
You do have the right to access your credit report information and to report and have changes made to your credit file if there is an inaccuracy or if you want to include a comment.
The only way to rectify a poor credit rating is to adopt sound credit practices for a period of time. However, there are a few steps that may help to improve your bad credit report quicker after you have checked it for accuracy. First, try to pay off any accounts that are currently in collections by making payment arrangements with the creditor. Second, keep your credit card balances under 50% of your credit lines. Having balances higher than this can cause your credit score to decrease. Finally, if you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help you build a solid credit history and offset any prior accounts that were reported as late.
Remember, when it comes to bad credit report repair, it just takes time of building a more solid credit history.