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What Does Credit Repair Mean?

November 8th, 2016 · No Comments · Credit Repair

by Staff

What does credit repair mean?If you have bad credit, you’ve probably heard plenty of times that credit repair can help. What you may not have heard, though, is this: what does credit repair mean? It sounds great, but it also sounds a little cryptic and has gotten a bad rap thanks to shady credit repair companies. So before you write it off (or jump in with both feet), get the facts about credit repair first.

The Basics of Credit Repair

Credit repair means taking steps that will improve your credit reports and scores. While you can hire a credit repair company to do it for you (yes, there are legitimate ones out there), you can also do it yourself for free.

Specifically, those steps are as follows:

1) Check your credit reports. You’re entitled to free copies from all three major credit reporting bureaus every 12 months. Request them at

2) Make note of items on your reports that could be dragging down your credit score. These include things like late payments and accounts in collections.

3) Send credit repair letters to the credit bureaus, original creditors, or collection agencies. Which one you write to depends on the type of listing.

For instance, if you discover incorrect information on your credit reports, send a dispute letter to the credit bureaus. If you want to ask an original creditor to remove a negative listing (that is accurate and cannot be removed through any other means), send them a goodwill letter. If you discover that a collection agency is trying to collect on “zombie debt,” send them a letter letting them know it has passed the statute of limitations.

4) Monitor your credit reports and scores. Try one or more of these free credit monitoring sites.

5) Do other good things for your credit.

Credit repair might look like a lot of work, but the process takes less time than you might think. If you repair your credit on your own, it can take as little as 2 or 3 hours a month. Check out a sample credit repair schedule.