When you are trying to work on credit repair using your own resources, itâ??s easy to make mistakes from time to time, especially when debt is overwhelming you. Your credit is important and you should put your focus on achieving the best credit score possible but be cautious as you move forward. There are several common areas where consumers are prone to making mistakes in their credit repair attempts. Here are 5 mistakes you need to avoid during the process: 1) Not Creating Documentation of Your Process When you are trying to correct credit mistakes, it is essential you document your process by taking detailed notes about who you have spoken to, the dates and times the conversations took place, filing all correspondence you receive in one folder, using mailing confirmations on the letters you send, and keeping a log of information as you move along with your creditors. If you do not keep tabs on what you are doing, you are either going to forget important details you might need at a later time and you have no proof of how much work you have been doing toward achieving better credit. 2) Failing to Report Inaccurate Information With Credit Reporting Agencies Before taking any further steps in credit repair, you need to ensure you first file your disputes with the credit reporting bureaus before proceeding forward. When you file a dispute, the credit bureau will investigate the information with the creditor. If a creditor fails to provide the information requested, the information will be dropped from your credit report. This streamlines the process for you and you get to focus only on the accounts that matter. Additionally, if you have to take legal action at some point concerning companies that are not operating on the up and up, you will not have much ground to stand on if you didnâ??t file a dispute first. 3) Failing to Follow Up Even if you complete all necessary steps for correcting a credit mistake or in clearing up a bad credit mark, you will not reach success in repairing your credit if you fail to follow up with creditors that do not respond or confirm your debts have been cleared. Get all information and agreements in writing from the creditor and if you fail to receive the information you need that confirms the debt has been taken care of, follow up with the creditor until you get what you need. 4) Be Realistic With Expectations Attempting to repair your credit is indeed possible but it takes a lot of initiative and effort. You must start the process with realistic expectations, including the length of time it will take to see your credit repair goals come to fruition. Be patient and understand there is no â??easy buttonâ?? for credit repair, despite what third-party agencies are now promoting. 5) Donâ??t Stop Now It can be easy to give up but bad credit does not go away. In fact, the more you ignore your financial responsibilities, the deeper the problems you will face in the future. When the going gets tough, remember that there will be a light at the end of the tunnel. When all is said and done, your better credit record will be invaluable to your financial future. Best Regards, David Frizzell
