How do I fix my credit reports?

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If you have a poor credit score because you have not used much credit in the past, then you may need to work on establishing new credit. Creditors want to see that you have a history of using credit responsibly so even if your credit reports do not contain a single negative listing, you could still have a low credit score if the credit bureaus do not have enough information about you.

Along with establishing new credit, see if the credit accounts you are using are being reported to the credit bureaus. If they aren't, and your accounts are in good standing, try contacting your creditors to see if they will report your positive credit to the bureaus. They are not required to, but some creditors will do so if you ask nicely or for a fee.

Finally, if negative items such as late payments or collections accounts are lowering your credit score, make sure to take a close look at these items to make sure they should be listed. Errors are rampant in the credit reporting system which is why consumers have the right to dispute any items in their credit reports that they feel may be inaccurate, untimely, misleading, incomplete, ambiguous, unverifiable, biased or unclear ("questionable"). For more information about credit errors, see the chapter Credit Errors: As Simple as Black & White (With a Massive Heap of Gray) from the book Credit Revolution: Path of the Smart Consumer.

Effectively disputing and removing the questionable negative items in your credit reports may end up being the most important step in fixing your credit because negative credit listings will hurt your credit score regardless of how much good credit your have on your credit reports. This is why for many people, increasing their credit score involves a combination of adding positive credit listings and removing the negative.

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