Many people nowadays are getting hosed when it comes to credit. Whatever you want to blame it on–recession or depression or just bad habits–it’s tough to deal with. The worst of it is that when the economy bounces back, you won’t have the credit that it will take to be a player in the game.

Only Scammers Will Claim They Can Erase a Bankruptcy

Don’t spend a dime on some service that tells you they can wholly restore your credit. Credit restoration isn’t for everyone and if you have a bankruptcy, it’s not going away for about seven years. Any “legit” bad credit on your report is there to stay.

The First Step To Credit Repair

The first thing that you need to do is to get your hands on all your credit report from each of the three bureaus. As long as you don’t request the credit score, it’s free. Credit scores are about 8 bucks

Seven Years Past the Last “Action” On An Report

Understand that bad credit other than bankruptcies and such can stay on your credit fro a period of time no longer than seven years (beyond the last “action”) that was made on the account. Get it? Seven years after your final payment on that account, not seven years after the negative report flagged.

Credit Reporting Errors are Very Commonplace

The days when credit agencies can get away with a mistake on your credit report are gone. Learn the simple ways of challenging negative tiicks and use them if you find any mistakes like that. Trust me! Credit reporting mistakes are no stranger to credit reports.

Credit Cards – Both Good and Bad

In the end though, after you have done all that you can in that area, credit repair for the most part comes down to building new credit to counterbalance any bad credit you may have. Credit cards are a double edged sword. They are great for building good credit but in the wrong hands, they can also quickly trash a persons credit.

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