If you know that you are what is called a “credit risk,” you probably are feeling that as a derogatory connotation. That can be the motivating factor for you to explore the return to good credit.

You will need the “do it yourself” directions to assist you with this time consuming and sometimes discouraging project. However, you will be proud of the finished project.

The “credit risk” label is based on your “credit report” and “credit score.” Therefore, you need to know what those are all about. The credit score is a very important 3 digit number that a “credit risk” will need to raise. A score of 700 or more is “good.” If the score is under 700, this might be problematic. This information is essential to the repair process.

To find out this information, you will begin by obtaining your credit reports. You will need to be brave and confront these reports. There are 3 credit bureaus that supply reports: TransUnion, Equifax, and Experian. On a yearly basis, you are able to receive a free report (fee for the credit score) from each of these agencies. For the details on this procedure, see www.annualcreditreport.com.

It is possible that each of these reports may actually be different. Therefore, it is very important to obtain all three report for comparison.

After the comparison, examine each report for errors. Determine the nature of the error or errors and DISPUTE THE ERRORS. This will take some time but you are the one who has to fix it.

Contact the credit bureaus in writing with a copy of the report, the errors and reason why you need to have it rectified. Remember to keep copies of everything you send. There’s an old saying: “If it’s not documented, it didn’t happen.”

Please approach this part of the process carefully as you would any DIY project. Deal with problems along the way, stay calm and this part of the project will get finished.