CREDIT REPAIR

WORKBOOK
Plan Your Credit Score

Name:
Step 1
TIP: A credit report includes data from either
a What's the date on your credit report? 1 (single report) or all 3 (tri-merge report)
Credit Reporting Agencies.

b Circle the Credit Reporting Agencies (CRAs)

TransUnion Equifax Experian
used in the report:

c What are your scores, if any? (Online scores mean nothing)

d Your online monitoring credit report access, if any:

Website: Username: Password:

Step 2
a Do you have any inquiries within the past 6 months? Y or N
TIP: All mortgage inquiries in any
2-week period count as ONE inquiry
i.) Do you have multiple mortgage inquiries within any 2-week period? Y or N

TIP: All auto inquiries within any 2-

ii.) Do you have multiple auto inquiries within any 2-week period? Y or N week period count as ONE inquiry

iii.) Do you have any credit card inquiries? Y or N TIP: EACH credit card
inquiry counts against your
score

b List new loans you've opened (or new credit cards with big balances) in the last 12 months?

TIP: New debt - new risk

Creditor Name Loan Amount Opened Date your credit card report doesn't
show much debt, a small new loan
($1000) hurts scores for 4-6
months. A big loan ($25,000) hurts
scores for a year or more.

Step 3
Have less than 4 open accounts?
a How many open accounts are showing on your credit b PLAN SOME ACTION
report?
Open a secured credit card
TIP: 4 or more open accounts on your credit report will give you the biggest
score boost.
Open an installment loan
Mortage Loans: Utility Accounts: Open a regular credit card

Instalment Loans: Revolving Accounts: Open a utility account

(e.g. auto loan,
(e.g. credit card,
student loan) line of credit) Open
Step 4
If my utilization ratio is
c over 30% ...

a List the credit card (not debit cards) that you have ? PLAN SOME ACTION

Pay down $
Creditor Name < 1 year Old? Balance Limit
Pay down $
Y or N
Pay down $
Y or N
Pay down $
Y or N Pay down $

Total Balance (A) Total Limit (B) Planned Total Balance (C)

b What's yout TOTAL utilization ratio? A B

d
Planned ratio C /B ?
%

Step 5
Do you have any student loans in default/ collection (9 months or 270 days of missed payments)? Y or N
a
TIP: For Federal student loans, there's 2 ways to remove the default/ collection notation from the credit report by either:
Quick Fix Method ( Consolidation) - (i) Make 3 payments or (ii) Enroll in the 25-year Income-Based Repayment Plan.
Longer Fix Method (Rehabilitation) - Generally, make 9 paymnets in 10 months.
Both methods will remove the 'collection' label from the credit report, however, each method is only allowed to be used once.

b
List your newest (within 2 years) collections, charge-offs, and c PLAN SOME ACTION
past-due accounts:
Planned Day To Pay
TIP: some collection agencies will remove a collection from your credit
report id you pay it off.

Creditor Name: Type (e.g. charge-off): Balance: Date Opened:

TIP: Never defauted debt (within the last 2 years) affects your score
or more than older defauted debt:

d Do you have any unpaid or unsatisfied tax liens or judgement? e PLAN SOME ACTION
Judgment/ Tax Lien: Owed to Who? Reported Balance: Planned Day To Pay
Filed Date:

TIP: If you've paid a judgement or tax lien, you may need to file the correct paperwork at
the court house in order for it to show up as "Satisfied' or 'Released" on the credit report.
Your report won't show updated balances until the balance is paied in full.
 Step 6
TIP: Adverse (negative) accounts include: Collection, Charge- Offs, Late Pays,
and Public records
TransUnion: Equilfax: Experian:

How many adverse (negative) accounts do you have

a on your credit report?

How many adverse (negative) accounts do you have in

b the last 2 years?

TIP: While all adverse accounts hurt your scores, adverse accounts within the last
2 years hurt your scores the most

Step 7
a In the 'Personal Information' section of your report (if availbale), do you have any
addresses listed that aren't yours?

Y or N

TIP: If you have incorrect addresses listed, check to see if there are any accounts that don't
belong to you. If so, that's either an error or identity theft.
Sample Letter Date:

Credit Reporting Agency (CRA) Mailing Addresses:

Equifax, Inc. Experian Consumer Trans Union Corporation

c/o CSC Credit Services Relations PO Box 2 Baldwin Place
P O Box 740040 9701
Allen, TX 75013 P.O. Box 1000
Atlanta, GA 30374 Chester, PA 19022

Consumer (Your) Information:

Name:
Address: * Photo ID and
SSN# Bill Attached

DOB

I dispute the following account information on my credit report. Please validate this debt.
Account Information:

1 Creditor Name:

2 Account Number:

3 Amount: $

I dispute the account because (check one):

This account is not mine or I do not recognize it.

I have been a victim of identity theft and this was not opened with my
permission.

The balances are incorrect.

This debt is older than 7 years. My last payment to the creditor was

Other:

If you should need to contact me regarding this dispute, please contact me.

Sincerely,
 Credit Report Review Checklist

Use the following worksheet to review each

Once you get your credit report,
section of your credit report. Do this for each
you will want to review it carefully.
credit report you get throughout the year.
Ordering it is not enough-you have
Then, keep the completed checklist with your
to read it. Credit reports may have
credit report.
mistakes. And if there are mistakes,
you are the only one who is likely to
Your credit report contains a lot of personal
find them.
and financial information, Be sure to keep
any hard copies of your credit reports in a
safe and secure place. If you do not want to
hang on to your credit reports, be sure to
shred them before getting rid of them.

Today's date: Name of credit reporting agency:

Is your name correct? Yes / No

Is your Social Security number correct? Yes / No

Is your current address correct? Is your current phone number correct?

Are the previous addresses they have listed for you correct? Yes / No

Is your marital status listed correctly?

Yes / No
Is the employment history they have listed for you accurate? Yes / No

Is everything listed in the personal information section correct? Yes / No

Is there anything listed in the public record information? Yes / No

Are the accounts on the list still open?

Review each item under the credit account (trade account) section. Yes / No

Are all of the current balances correct? Yes / No

Are accounts where you are an authorized user or joint owner listed? Yes / No

Are zero balances recorded for debts discharged in

Yes / No
bankruptcy? For debts paid in full?

Are you listed as a co-signer on a loan? Is this correct? Yes / No

 Are you listed as a co-signer on a Yes / No
loan? Is this correct?

Are accounts that you closed listed as “closed by the consumer"? Yes / No

Is negative information reported on each credit account correct?

Yes / No
Look for late payments and missed payments.
Highlight those items you think are not correct.

Are any accounts listed more than once? Check to make sure
the same account is not listed multiple times in the collections section. Yes / No

Is old negative information still being reported? Yes / No

If yes, highlight the information that has exceeded the negative
information reporting limit, which is usually seven years.

Do you suspect that you have been the victim of identity Yes / No
theft after reviewing your credit reports?
 Top Tips

If you find something wrong with your credit report you should
dispute it. You may contact both the credit reporting company
and the creditor or institution that provided the information.
Explain what you think is wrong and why.

To correct mistakes, it can help to contact both the credit

reporting company and the source of the mistake. You may file a
dispute not only with the credit reporting company, but also
directly with the source of the information, and include the same
supporting documentation.

You may file your dispute online at each credit

reporting agency's website.

If you file a dispute by mail, your dispute letter should include:

Your complete name, address, and telephone number; your
report confirmation.

If you suspect that the error on your report is a result of identity

theft, visit the Federal Trade Commission's Identity Theft.gov
website for information about identity theft and steps to take f you
have been victimized. This will include filing a fraud alert and
possibly filing a security freeze.

If the error is with a specific account, you can also choose to start
the process by contacting the creditor or the debt collector to
resolve the dispute.
 Top Tips

Whether you file your dispute directly with the creditor (information
furnisher) or the credit reporting agency, they generally have 30 - 45 days to
investigate your claim and 9 days to send you written notice once their
investigation is over.

If the dispute results in a business changing the information it reported

about you, the business must notify the credit reporting agencies. And
vice versa, if you filed your dispute with a credit reporting agency, it
must fix your file and notify the creditor of the error.

Notes
# Steps to filing a dispute checklist

#1 Write a letter to the credit bureau that sent

you the report.

#2 Provide the account number for the item

you feel is not accurate.

#3 For each item, explain concisely why you believe

it is not accurate.

#4 If you can, include copies of bills or cleared checks

(money order stubs) that show you have paid them on
time.

#5 Provide your adress and telephone number at the end of the

letter so the credit bureau can contact you for more information
if necessary.

#6 Make a copy of your letter before you send it to

the credit bureau.

#7 Send the letter. You may choose to use Certified Mail with
Return Receipt to have proof of when the letter was received. The
consumer reporting agency or the creditor generally has 30-45 days
to investigate your claim.
 Sample Letter Date:

Company / Collector:
Address:

Dear Sir or Madam:

I dispute inaccurate information on my credit file maintained by your organization.

My information is:
Name:
Address:

SSN# - -

Account information:

Original Creditor:

Account Number:

Amount: $

I dispute that I established an account with the stated debt amount or signed a
contract with you or your assignee or assignor. Further, I demand that:

1. Your firm ceases contacting me via phone, mail, or email. You may contact me
directly at writing at:

2. Your firm provides proof that I owe the alleged debt stated above.

3. That your firm clearly states its relationship with the original creditor. If your
firm purchased this debt, please provide a statement and affidavit to that fact

If you cannot comply with my demands and furnish proof that I have opened the account
and made charges to that account, remove the negative information you are reporting the
credit reporting agencies.

Sincerely,
Notes