The Credit Repair Support Center

Every person is unique, but when you face a challenge like repairing your credit, you are never alone. Countless men and women have faced the exact same problem and have survived and thrived. The following guide is designed to help you navigate your journey with the best information and resources that helped other survivors when they faced the same challenge.

TSC has scoured the Internet and assembled links to the very best resources about credit repair: Articles, blogs, forums and tools that can help you make better decisions and take action to overcome the range of physical, emotional and other challenges that you face.

As you’ll see, we always welcome your ideas and suggestions to make this Credit Repair Guide even more helpful to survivors like you.

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Survivors Say: Best Resources for Credit Repair

Survivors say these are the best resources for those who are just beginning the process-- check them out to find out more about your options.

• Federal Trade Commission: Credit Repair - How to Help Yourself The FTC offers an excellent perspective on credit repair and the options available to consumers.
• Credit Problems and How to Get Help This guide from the HSBC-North American Center for Consumer Advocacy gives information on how to identify credit problems, and details about credit counseling.

The Big Picture

Credit repair is the simple act of doing what is necessary to get an acceptable credit rating and credit score, necessary for getting a car loan, home mortgage and other important financial needs. Due to these harsh economic times, many people are scrambling to maintain a good credit record in the wake of financial disaster. Many people are able to repair their credit on their own by simply doing away with bad spending habits and paying off debt. Others rely on credit repair services that are often scams designed to take your money. Besides, anything a credit repair company can do legally is something that you can do yourself - for free.

• Lending Tree: How Bad Credit Affects You
• Bankrate: Bad Credit Hurts in Many Ways
  

Your Credit Repair

It's easy to understand the need for credit repair, once you've identified your current credit woes. In order to move in the right direction, you need to understand the cause of your current credit situation, and how it affects your credit score.

• Credit & Debt: What Causes Bad Credit?
• MyFICO.com: Understanding Your FICO Score
  

Your World

Credit woes can affect your emotions more than you think. It's important to have balance in all aspects of your life, including your financial budget. Tackling your debt and credit issues will lower your stress levels and boost your self-esteem.

About.com: Financial Stress - How It Affects You and What You Can Do

Credit Repair Myths

• A large income guarantees good credit.
• Pay the small bills first, then tackle the big ones.
  
• Canceling credit cards will boost my credit score.
  

Information and Recommended Links for Survivors

• Motley Fool: How-To Guide - Reduce Your Debt  A six-step action plan for getting your debt under control.
• About.com: Credit/Debt Management - How to Repair Your Credit iA detailed guide to improving your credit rating.
  

What are Some Practical Ways to Repair Credit

Organizing your financial house is the first step in repairing your credit. In order to understand where you need to go, you must first understand where you are. One essential step is to make a budget so you know what's going in and out of your wallet.

• Get Rich Slowly: How To Organize Your Finances in Four Easy Steps
• About.com: Credit/Debt Management - How to Make a Budget
  

If your debts are really steep, debt consolidation, if handled properly, is one option for getting your credit woes under control.

Bankrate.com: Guide to Consolidating Your Debt

Choosing to Repair Your Credit on Your Own

The best -- and least expensive -- way to  repair your credit is to do it on your own. It will take discipline, patience and focus , but it's well worth the effort if better credit is your goal.

• Bankrate.com: 5 steps to do-it-yourself credit repair
• MSN Money: 9 Ways to Build Credit from Scratch
  

Financial Professionals Who Can Help Restore Credit

Legitimate credit-repair specialists can help dispute inaccuracies on your credit report -- they'll do this daunting legwork,  leaving you free to go about about your daily routine. Ultimately, they may help save time, but they also charge a good deal of money. Be sure to properly research any agency or specialist you are considering.

Bankrate.com: Repairing your credit: Go it alone or hire a repair company?


Be on the lookout for credit repair scams, as they prey on thousands of people annually. Understanding legitimate versus fraudulent credit repair agencies may save you from a load of stress and aggravation.

CNNMoney.com: Avoiding Credit Repair Scams

If you've tried to reduce your debt and improver your credit but still can't, consider assistance from a legitimate credit-counseling agency.

• National Foundation for Credit Counseling  This nonprofit organization has 900 agencies nationwide that offer budget counseling, debt management plans and financial literacy courses.
• Association of Independent Consumer Credit Counseling Agencies  An accredited agency with certified credit counselors in all 50 states.
  

Books Survivors Recommend

• Credit Repair Kit for Dummies, by Stephen R. Bucci 
• How to Repair Your Credit Score Now: Simple No Cost Methods You Can Put to Use Today, by Jermaine Burrell
• The Insider's Guide to Credit Repair, by K.E. Varner

Information and Recommended Links for Co-Survivors

How you can help

• When someone is working through the process of repairing his credit, consider the example you're setting. It's not uncommon for people to change their circle of influence and friends when pursuing a goal; be sure to be on his side during the credit battle.
• Help crunch numbers and offer any budget skills or tips you think might help.
• Promote good spending habits. Encourage her to spend their money on quality as opposed to quantity. Recommend cost-cutting methods like less eating out, fewer $5 coffees to start the day, a less expensive phone plan or cable package.

What to Say

• “You can repair your credit by making a few changes in lifestyle and financial priorities.”
• “If you'd like, I can help you budget for things you need and reallocate funds from unnecessary expenses.”
• “Others have repaired their credit and are now thriving financially. I know you can, too.”

What Not to Say

• “You'll never repair your credit with your type of spending habits.”
• “You can't repair your credit on your own, you need to contact a credit repair service.”
• “Why don't you just file for bankruptcy and start over?”

How to Build a Support Network

• Set up your TSC Co-Survivor Profile
• Create a support group for your loved one
• Interact, provide updates and share your credit repair experiences

Helping a survivor deal with day-to-day challenges

• Work – Many people are not aware of the repercussions bad credit leaves in its wake. Potential employers often consider candidates' credit issues during the hiring process. Helping a friend or family member repair his credit will make him a more employable asset. ABC News: How Bad Credit Can Affect Job Prospects
• School – The best way to help a student during the credit repair process is to encourage her to have good credit habits. Students hate being poor and not having extra funds for extracurricular activities, but they'll hate graduating with additional debt and poor credit even more. MSNBC: Six Tips to Make Good Financial Habits Stick

Credit repair is a process that takes time and certainly some hard work. A patient mindset is the best way to approach the process, followed by a renewed sense of financial responsibility. Once good habits are established, your payments should be arriving on time, and unnecessary spending will become a thing of the past. As debt decreases, you'll be see your credit score rise, offering a brighter path toward a better financial future.

Recovery and Recurrence

Once you've come out of your personal credit crisis, you'll want to continue on the prudent path that helped boost your credit score back tup. If you find yourself slipping, do whatever it takes to keep your credit from being damaged once again.

NOLO.com: Rebuilding Credit FAQ

Keep tabs on how your debt-reduction efforts are paying off by ordering your credit report for free from the three credit-rating agencies once a year.

AnnualCreditReport.com

A financial planner can help with debt and credit issues, and keep you on the track of financial success. Research and select an accredited professional planner who will help you  wisely put your money where it needs to be.

Securities and Exchange Commission: Financial Planners

Giving Back – Helping other survivors

• Create a TSC Profile and begin interacting
• Share your story
• Become a mentor for someone else experiencing credit repair

Sometimes credit can become so damaged that you'll experience the repercussions for years. It may even lead you to file for bankruptcy. Regardless, continue to work toward rebuilding your credit through financial responsibility, and you will eventually see light at the end of the credit crisis.

DebtWorkout.com: Bankruptcy Alternatives  Bankruptcy lawyer Mory Brenner explains when it's best to file and when it's best to explore other options for debt repair. 

Bad Credit Advisor: Rebuilding Credit After Bankruptcy Recommended steps for rebuilding credit after filing for bankruptcy.