How Can I Repair My Bad Credit History?

I asked a credit repair clinic for help but they said that I should pay them $2k up front. I just thought that it was too much...can anybody share some tips on how to repair credit myself?

1. Late payments will have a negative effect on your credit rating. So try to pay all your bills on time.

2. If you are carrying several credit cards, try to also reduce their number, if you can afford to carry just one, that would be excellent. If you decide to carry just one card, don't forget to write your creditors a request for your accounts to be closed, also to remind them to change their status as such, to the reporting agencies.

3. If you can't carry just one card, request for your creditors to reduce your credit limits instead. That way your purchases would be limited. The creditors consider the total amount available on your cards even if you do not owe any amount.

4. Do not file for bankruptcy or avoid obtaining judgment. A bankruptcy stays on your report for  up to 10 years, collections and liens for 7 years, and an unpaid tax lien far longer.

5. If you need to reestablish credit, ask a loved one or a friend to co-sign on a small loan with you and make sure that your payments are on time.

6. Another way of reestablishing credit is to get a secured card. You would deposit a certain amount of money to retain that account and to cover your charges. Again, always pay on time.

7. Be vigilant about your credit report. Obtain a copy every year to monitor for errors.

Taylorswift13, you can also try checking for errors. There are instances where certain individuals have had messed-up credit reports because they contain incorrect information. Each time you receive a copy of your report, make sure to double check all your personal information--name, SSN, date of birth, addresses and phone numbers--because sometimes the credit reporting agencies may include information that is not yours, due to similarities on the basic information.

If you also see any questionable accounts that you knew you never opened, request that this erroneous information by the CRA's. Duplicate a copy of your report, send a copy back to them, and make sure to indicate the errors. It will typically take 30-45 days for the credit bureau to investigate the matter. Once this is completed, they must send you back a revised copy, free of charge.

However, if all information on your report appears correct, you need to understand that the passage of time will only remove negative but accurate information on your report. I understand that you may want to fix your credit in the soonest time possible, but you have to wait it out. Keep in mind that it takes seven years for a delinquent account, judgment, lien, repossession, and foreclosure to remain on your credit report, while it takes 10 years for a bankruptcy.