Would you like to erase your bad credit report? Yes of course you would – who wouldn’t. Unfortunately that does not mean that it is possible to do so. You can take steps to improve and help build up your credit rating, but there is nothing you can do to just erase a bad credit report. So why do you keep seeing things on the internet promising to do just that? Well you can be sure that the people responsible for such claims are making them in order to try to get money out of you one way or another; so do not be taken in.

In both the UK and the US there are three main credit reference agencies that hold your credit records, and no-one has the power to get anything on these reports changed unless there has been an error. It is true that sometimes mistakes are made which can result in your credit rating being worse than it should be, but if that is the case you can check it and have it put right yourself.

All American citizens can obtain one credit report each year without having to pay for it, and in the UK it is possible to check your credit report free of charge by signing up for a free trial of a service that is normally paid for. If you do find any errors on your report you need to write a letter to point out the mistake, explain the true situation and any other relevant facts and ask them to change it.

If you are experiencing problems with your credit report, check it yourself to begin with, in case there are problems which are causing it to be worse than it need be. Then consider a few things you can do to begin to work towards a better credit rating. First of all look at your current situation and see if you are doing anything that is likely to be contributing to your poor credit rating. Have you any debts that you are behind with, or unpaid bills? If so, you need to settle anything like this first, or your other efforts will be wasted.

If you have real debt problems then that obviously has to be your first focus of attention. Don’t even think about consolidation loans or anything like that, it will only make things worse. By far the best way to deal with debt is to negotiate with your creditors for new repayment terms. Detailed help and advice with this process is available free online.

Debts in themselves are not bad things as far as credit reports go, they only become bad things when you do not keep to the agreement with regard to how and when you will pay the money back. So the main thing is to ensure that you do not have any debts that you are not keeping up with. Using a credit card can actually be beneficial in terms of building up a good credit record again. The trick is to use them responsibly. If you are being rejected for credit card applications you should stop applying, as each application hits your credit record. You may have to take a card that is at a high rate of interest because of your credit rating, but if you pay it off in full each month this will not matter. It is worth doing as just using a card responsibly will help restore your credit rating.

Author's Bio: 

Check your credit score rating free of charge now via the author’s website. KD Garrow has worked as a senior manager with significant financial responsibility for the last twenty years. His website about debt cures offers free advice on a range of debt related subjects, including a detailed step by step guide to getting out of debt without borrowing or spending more money. The website is an information resource with unbiased advice on loans for personal debt, bankruptcy, IVAs, Debt Management Plans, money saving ideas, how to use credit cards, etc.