How To: Repair Your Credit on Your Own!

I know this isn't an easy subject to really get into without the help of a professional, but it can be done!
I've got lots of friends who have used this information that I have found and also tried myself before I posted anything on my personal blog sites. I figured I'd share this with the entire world. So here it is ...

Okay so this is how this article is gonna go ... I've learned over the last 4 years just how important it is to have good credit. I myself have had ups and downs with my credit scores and even hit ROCK bottom because of shit being stolen from me when I was at a "friends" house when I was 18 and just starting out! So this is to help anyone who has some or many credit issues! I'm gonna walk everyone through this step by step ... and will even give the Statute of Limitations for each US State!

PLEASE DO NOT PAY A CREDIT COUNSELING AGENCY OR AN ATTORNEY TO DO THIS FOR YOU! YOU CAN DO THIS ON YOUR OWN FOR MUCH LESS! AND IT IS 100% LEGAL!

Step One

Pull each credit report ....
Equifax --- Most Widely Used Credit Reporting Agency
Transunion
Experian

or you can get all three for free once a year at FreeCreditReport.Com

Step Two

Print out each report ...
Go through each credit report with a pencil/pen and a highlighter or several highlighters in my case (I mark each thing in a different color, positive accounts in blue and negative accounts in Red or pink)

Step Three
Know the statute of limitations for your state ... The statute of limitations means how long before the money you owe to someone is considered non-collectible ... In Maryland its 3 years from when it first becomes delinquent...

STATE: ALABAMA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 6
* Domestic Judgment: 20
* Foreign Judgment: 20

STATE: ALASKA

STATUTE OF LIMITATIONS (IN YEARS)

* Sale of Goods: 4
* Written Contract: 6
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: ARIZONA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 6 in Az. - 4 outside Az.
* Domestic Judgment: 5-additional 5 upon request (indefinitely)
* Foreign Judgment: 4

STATE: ARKANSAS

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 5 (partial payment stops the statute from running)
* Sale of Goods: (UCC-2) - 4
* Domestic Judgment: 10 - Renewable
* Foreign Judgment: 10

STATE: CALIFORNIA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: Reduced to writing-4
* Open Acct.: No writing-2
* Written Contract: 4
* Domestic Judgment: 10 (renewable at 10)
* Foreign Judgment: 10 (commencing with judgment debtor's commencement of CA. residence.)

STATE: COLORADO

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 6 (signed promissory note)
*Written Contract Goods Services: 3
* Domestic Judgment
o

District Court-20 (renewable every 20)
o

County Court-6 (renewable every 6)
* Foreign Judgment: 6 in CO.

STATE: CONNECTICUT

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract: 6
* Oral Contract: 3
* Domestic Judgment: 20/25
* Small Claims Judgment: 10/15
* Foreign Judgment: 20

STATE: DELAWARE

STATUTE OF LIMITATIONS (IN YEARS)

* Sale of Goods: 4
* Open Acct.: 4
* Written Contract: 3
* Domestic Judgment: No provision
* Foreign Judgment: No provision

DISTRICT OF COLUMBIA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 3
* Domestic Judgment: 20
* Foreign Judgment: Foreign Statute

STATE: FLORIDA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Written Contract: 5
* Domestic Judgment: 7 Renewable
* Foreign Judgment: 5 if not recorded in-state

STATE: GEORGIA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Written Contract: 6
* Domestic Judgment: 7
* Foreign Judgment: 5

STATE: HAWAII

STATUTE OF LIMITATIONS (IN YEARS)

* Sale of Goods: 6
* Open Acct.: 6
* Written Contract: 6
* Domestic Judgment: 10
* Foreign Judgment: 6 for regis./10 after Regis.

STATE: IDAHO

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Oral Contract: 4
* Written Contract: 5
* Domestic Judgment: 5 renewable
* Foreign Judgment: 6 renewable

STATE: ILLINOIS

STATUTE OF LIMITATIONS (IN YEARS)

* Sales (UCC): 4
* Open Acct.: 5
* Written Contract: 10
* Domestic Judgment: 20
* Foreign Judgment: Same as foreign jurisdiction

STATE: INDIANA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract for payment of money
o

(executed before 9/l/82): 10
o

(executed after 8/31/82): 6
* Written Contract (other than payment of money): 10
* Written Contract for sale of goods: 4
* Domestic Judgment:
o

10 on real estate
o

20 against the person
* Foreign Judgment: 10

STATE: IOWA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 5
* Written Contract: 10
* Domestic Judgment: 10-can be renewed in the 9th year
* Foreign Judgment: 10-can be renewed in the 9th year

STATE: KANSAS

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 5
* Domestic Judgment: 5 renewable
* Foreign Judgment: 5 renewable

STATE: KENTUCKY

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 5
* Written Contract: 15
* Oral Contract: 5
* Domestic Judgment: 15
* Foreign Judgment: 15

STATE: LOUISIANA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 10
* Promissory Notes: 5
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: MAINE

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract: 6 + 20 (with attestment)
* Domestic Judgment: 20
* Foreign Judgment: 20

STATE: MARYLAND

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* UCC: 4
* Specialty: 12 (contract under seal)
* Written Contract: 3
* Domestic Judgment: 12
* Foreign Judgment: 12

STATE: MASSACHUSETTS

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct. on Contract: 6
* Contract: 6
* Sales (UCC) Contract: 4
* Domestic Judgment: 20 (presumed satisfied after 20 years)
* Foreign Judgment: 20
* Contracts Under Seal: 20

STATE: MICHIGAN

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract: 6
* Sales (UCC) Contract: 4
* Domestic Judgment: 10 renewable
* Foreign Judgment: 10

STATE: MINNESOTA

STATUTE OF LIMITATIONS (IN YEARS)

* Goods Sold & Delivered (UCC): 4
* Open Acct.: 6
* Written Contract: 6
* Transportation Service: 3
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: MISSISSIPPI

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 3
* UCC: 6
* Domestic Judgment: 7
* Foreign Judgment: 7 (3 if resident)

STATE: MISSOURI

STATUTE OF LIMITATIONS (IN YEARS)

* Sale of Goods: 4
* Open Acct.: 5
* Written Contract: 10
* Money & Property:
o

Domestic Judgment: 10 (Revived every 3 years)
o

Foreign Judgment: 10 (Revived every 3 years)

STATE: MONTANA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 5
* Written Contract: 8
* Domestic Judgment: 6 (over $5000) Renewable
* Foreign Judgment: 6 Renewable

STATE: NEBRASKA

STATUTE OF LIMITATIONS (IN YEARS)
* Open Acct.: 4
* Written Contract: 5
* Domestic Judgment: 5 renewable every 5
* Foreign Judgment: 5 non-renewable

STATE: NEVADA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Written Contract: 6
* Lease: 4
* Domestic Judgment: 6
* Foreign Judgment: 6

STATE: NEW HAMPSHIRE

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* For Goods: 4
* Written Contract: 3
* For Goods: 4
* Domestic Judgment: 20
* Foreign Judgment: 20

STATE: NEW JERSEY

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Sale of Goods: 4
* Written Contract: 6
* Domestic Judgment: 20
* Foreign Judgment: 20

STATE: NEW MEXICO

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Written Contract: 6
* Domestic Judgment: 14
* Foreign Judgment: 14

STATE: NEW YORK

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract: 6
* Domestic Judgment: 20 (1 0 yr. renewable lien)
* Foreign Judgment: 20 (1 0 yr. renewable lien)

STATE: NORTH CAROLINA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Sale of Goods: 4
* Written Contract: 3
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: NORTH DAKOTA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct. for services: 6
* Sale of Goods: 4
* Written Contract: 6
* Domestic Judgment: 10 renewable
* Foreign Judgment: 10 renewable

STATE: OHIO

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Sales Contract (UCC2-725)
* Written Contract: 15
* Domestic Judgment: 21 renew every 5
* Foreign Judgment: 21 renew every 5

STATE: OKLAHOMA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 5
* Domestic Judgment: 5 renewable
* Foreign Judgment: 3

STATE: OREGON

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Sale of Goods: 6 (4 yrs UCC Transaction)
* Written Contract: 6
* Domestic Judgment: 10 - Renewable at 10
* Foreign Judgment: 10

STATE: PENNSYLVANIA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Written Contract: 4
* Domestic Judgment: 5 (writ of revival within 5 yrs.)
* Foreign Judgment: 4
o

-Lien against real estate: 5 yrs.
o

-Personal property Ex: 20 yrs.

STATE: RHODE ISLAND

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 10
* Written Contract: 10
* Domestic Judgment: 20
* Foreign Judgment: 20

STATE: SOUTH CAROLINA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 3
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: SOUTH DAKOTA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Sale of Goods: 4
* Written Contract: 6
* Domestic Judgment: 20
* Foreign Judgment: 10

STATE: TENNESSEE

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract: 6
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: TEXAS

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Written Contract: 4
* Domestic Judgment: 10 (Renewable)
* Foreign Judgment: 10 (Renewable)

STATE: UTAH

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 4
* Written Contract: 6
* Domestic Judgment: 8
* Foreign Judgment: 8

STATE: VERMONT

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract: 6
* Domestic Judgment: 8
* Foreign Judgment: 8

STATE: VIRGINIA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3 Last charge or payment Written Contract: 5
* Domestic Judgment: 20
* Foreign Judgment: 10
* Sales of goods under article 2 is 4 years

STATE: WASHINGTON

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Written Contract: 6
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: WEST VIRGINIA

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 5
* Written Contract: 10
* Domestic Judgment: 10
* Foreign Judgment: 10

STATE: WISCONSIN

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 6
* Written Contract: 6
* Domestic Judgment: 20
* Foreign Judgment: 20

STATE: WYOMING

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 8
* Written Contract: 10
* Domestic Judgment: 5
* Foreign Judgment: 5

PUERTO RICO

STATUTE OF LIMITATIONS (IN YEARS)

* Open Acct.: 3
* Merchandise Open Acct.: 3
* Written Contract: 15
* Mortgage: 20
* Domestic Judgment: 15
* Foreign Judgment: 15

Step Four

***DO NOT PAY ANY DEBTS THAT ARE PAST THE STATUTE OF LIMITATIONS IN YOUR STATE ***
It will make it look like a new debt on your credit report and it is no longer collectible ... Let it fall off your credit report (usually will be 7 years from the date of delinquency) ... Regardless if you owe this, they CANNOT come after you for it! As each day passes it will continue to decrease the negative effect on your credit score!

Ok after you have finished looking over all the negative things on your credit reports its time to DISPUTE the items on each report. The best way to dispute things is by Certified Mail ... Here is the Catch ... If the Credit Bureau CANNOT verify the debt in 30 days, they HAVE to DELETE it! If the Debt Collector even gets back to them one day late it CANNOT be re-reported!
Each credit bureau has only 30 days to verify the information in question and 45 days to get back to you. If you have not heard back from them in the 45 days allotted you will send a Follow Up Dispute Letter ( I will locate a sample letter for all of you). All of the negotiating should be done in writing and make sure you SAVE EVERYTHING! Keep all your information organized so you can find it when you need it! If you feel that a debt is not yours DON'T give the Collectors any information about you ... Ask them to send you any signed papers/contracts that they have, and if they cannot prove that the debt is yours you can tell them that to the Credit Bureau's when you dispute the information with them! Never send a letter with your signature, either type it or print it!
If you want to send the information you received from the Creditors MAKE COPIES NEVER SEND ORIGINALS!!!

Step Five

Wait .... That's right, wait for the credit bureau's to get back to you! I know its hard to do but you'll be fine.

Step Six

Go over the information the Credit Bureau has mailed to you ... They send you another **UPDATED** Copy of your credit Report ...

In the first few pages, they will show you what has been "Deleted" or "Updated/Verified" ... If you still have negative things on your credit report wait 60 days and re-dispute the negative information... You can dispute ANYTHING you want on your credit reports!

I almost forgot to mention, if one account has been sold to another Collection Agency that is more than 1 year old try and dispute it, cause if they can't verify the information it must be deleted. If a company has gone out of business and you have a debt with them, dispute it, it will most likely come off easily, because the company is no longer in business!

Step Seven

If you currently have accounts that have 30 day, 60 day, 90 day or more lates listed on your credit report, send a good will letter to the company that you have an account with and send one every month if you have too ( I will post a sample of a good will letter in another post)! A goodwill letter may not get you any success in removing the late payment notes on the account, but it could work. No company has to remove them, the laws just say that they have to report correct information. Some Companies are easier to get something out of when it comes to a good will letter!

Step Eight

Don't give up! Continue to Dispute Negative items on your credit report every 60 days! Also continue to send Good Will Letters every month.

I will post the addresses of all 3 credit bureau's tomorrow in this post so you can send all disputes to the credit bureau's!

*** ALL this information is legal, but I'm not an attorney and this is just stuff I learned on my own, while trying to correct mine and my husband's credit!!!***

I will tell you that I have had about 6 negative accounts removed from my credit report! If any dates on any account is incorrect dispute it and tell them the correct dates, it will be automatically removed because it is stating incorrect information. In one month I raised my credit score 139 points just by disputing information on my credit report and by having 1 credit card that I pay every month on-time!

I can post some credit card companies that will help you rebuild your credit score. But that will have to wait until tomorrow morning!

I hope this information helps everyone ... I currently use MYFICO.COM to track one of my credit scores (Equifax since its widely used, for only $8.95 a month, you get 30 days free when you sign up for the first time)!

**EDIT**
I told you all I would add the addresses for the credit bureau's so you can send in your dispute letters ...

Equifax Credit Information
Services, Inc.
P.O. Box 740241
Atlanta, GA 30374

Experian
P.O. Box 2104
Allen , Texas 75013-2104

Trans Union Corporation
Consumer Disclosure Center
2 Baldwin Place
P.O. Box 1000
Chester , PA 19022

As for credit cards for people with Very Bad and Bad Credit! Go to this website .... Don't apply for a bunch of cards you can't afford, also applying for a ton of cards will drop your score. Start with one card, keep it for at least a year before you apply for more... Make sure you pay on time each month even if you only pay the minimum payment. What I do is ... Make a payment 2 sometimes 3 times a month ($10 each pay check that my husband gets, and then an extra $20-50 each month that my husband gets overtime, my minimum payment is $15 a month).

The way to boost your score is to keep the use of your credit card down to less than 10% util., so if you have a credit card with a $300 Credit Limit, spend no more than $30 a month (and try to pay the whole $30 each month)! I know its only a little bit, but its going to help you build your credit...

I just pulled my Equifax Credit report yesterday and I was surprised at the fact that I've had my 1 credit card for 6 months now and have not missed a payment and by not having any previous credit cards, I had a non-existent payment history ... so it was displaying as bad ... But in the 6 months of having this card and paying it on time, it changed that Bad Payment history to a very good payment history ... so hopefully by November this year when my account reaches 1 year of age ... I will have a PERFECT Payment history! And hopefully my score will be in the high 700's!