Credit repair is something you can do on your own, or with the services of a credit repair company. However if you decide to go the do-it-yourself route here are a few tips that will help you with the task ahead of you.
First of all make sure you receive a copy of your three reports from annualcreditreport dot com. You are entitled to receiving your report from here for free once a year, from each of the three main bureaus. (Equifax, Transunion and Experian)
Secondly I would advise you to challenge collection accounts on your report. Collection agencies are among the worst Fair Credit Act violators, they leave collection accounts on your report even after they have sold them to another agency.
This is against the law and the only way to do something about it is to challenge the account, otherwise you can expect it to stay on your report for a long time. Unfortunately the bureaus will not remove the account for you.
Thirdly you want to continue to maintain accounts that you have and are already in good standing. A lot of people might be under the assumption that due to the fact that their rating is already poor, they have no reason to continue to maintain good accounts but you should at all cost.
The reason is that a good account that shows a long history is an asset to your repair efforts when you do begin them.
And lastly make sure you work on each of your three reports (Equifax, Transunion and Experian). You never know which one a lender is going to use to qualify you so you want to make sure that each of them are in good shape!
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