The only one who can fix your credit is you, and this process can only happen over time as you take steps to improve your credit on your own.

First of all, contact your creditors when you realize that you won’t be able to make your payments. Your local credit counseling service is also just there to help you prepare a budget and work out a payment plan.

Next, check your credit report. About one out of every four credit reports contains errors. These can be corrected, and you won’t be charged for it. Each credit bureau usually has its own method for filing a dispute, so contact them for more information.

You should collect copies of any supporting documentation and send these with the form you submit. Your dispute will be investigated, and corrections will be made if needed. You may request that a copy of your corrected credit report be sent to everyone who has requested your credit within the past six months.

Should the dispute remain, file a written explanation that will be sent with your credit report whenever anyone requests it. You also can file written explanations as to why you were unable to meet your obligations.

Usually, negative information will appear on your credit report for only 7 years.

But there are some exceptions.

Bankruptcy information will be on your credit report for 10 years.

Be aware that information regarding a lawsuit or judgement against you will be reported for 7 years or until the statute of limitations is over, whichever is longer.

There is no time limit for information reported because of an application for a job with a salary greater than $75,000.

Know that information on an application for more than $150,000 worth of credit or life insurance will have no time limit.

So make sure you pay your bills on time and resort to credit only when it is necessary.

If you continue to do this, then your credit will improve in time.

You just need to have the perseverance to reach that goal. Time is really necessary here. You just have to persevere so you’ll get out of the mess you’re in.

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