Repairing Credit.

What exactly is bad credit?  There are many types of credit report problems that would cause a lender to reject your loan application. Such problems include: missing a credit card payment, defaulting on a prior loan, filing for bankruptcy in the past seven years or not paying your taxes. Other black marks on a credit report include a judgment filed against you (perhaps for non-payment of spousal or child support) or any collection activity. If you think your credit report is inaccurate,experts say it’s best to confront the organization or company that claim you owe them money. If you’ve paid bills late, regroup by paying in full and on time for six months to a year to prove to the lender that the late payments were a one-time occurrence.
Credit Reporting Agencies

Under the FACT Act amendments to the Fair Credit Reporting Act, you are entitled to one free Personal Credit Report in a 12-month period. To request this free annual report, you may contact the Central Source on-line at, call toll free (877) FACT ACT, or by using the mail request form available at the website.  The credit report will provide information from all three reporting agencies:


How do I correct an error in my credit report?

If you  find an error in a copy of your credit report, write the credit bureau to correct the mistake. The procedures are usually explained in a letter that accompanies the report or appear on the report itself.

Once the bureau receives your complaint, it has 30 days to respond in writing. The bureau contacts the creditor who reports the information. If the creditor realizes that it made a mistake, the blemish will be removed from your record and the credit bureau will mail you a letter verifying its removal. But if the creditor disagrees with your claim, you have the right to add a 100-word statement to your credit file that tells your side of the story.


PO Box 740241

Atlanta, GA 30374-0241

(800) 685-1111


Trans Union

PO Box 1000

Chester, PA 19022

(800) 888-4213


PO Box 949

Allen, TX 75013-0949

(888) 397-3742