The economy has now changed and many people are suffering loss of jobs and decrease in income. If you find yourself in this position, most likely your credit status will suffer. Now is good time to take a look at your credit and start doing some credit score repair.

There are three major credit reporting agencies that you need to work with. There are many methods that you can use to improve credit score in agency reports. You have to work hard and consistent to reverse your sliding score. Here are steps that will make you an expert in controlling your own credit.

1. First, start off by getting a copy of your credit report from three major credit agencies. You're eligible to get one free every year. Look up the address of the big three agencies on the Internet and order your reports right now.

2. When you get your reports, check your credit score, look for simple error in your personal data, and for information that is not yours. Make a list of all the errors you find.

3. Look for simple errors. A simple error can be a wrong spelling by one letter of your middle name. Don't over look any error. Then in a letter to the agency, list three of these types of errors and indicate why they are errors, and that you want them to be removed immediately. Every month submit another letter pointing out errors.

4. If you find in your report accounts that are over seven year old, ask them to remove the bad accounts and don't ask to remove the good accounts. Credit consumer law requires agencies to remove accounts over seven years old.

5. If you have made late payments, they will show up on your report. Call the lenders of these accounts and ask if they will remove them. Tell them you are now trying to make your payments on time and want to work with them to fully repay your loan. If they do not want to remove the derogator remarks, write to the agencies and ask them to remove these accounts, since they have errors. The lenders have 30 days to respond to your challenge, and if they don't, the agency has to remove these accounts.

6. Each month do something to repair your credit and improve credit score. Work on only one account per month. If you letter doesn't help to remove the account, write another letter 2-3 months later.

7. If you want to have help in getting your credit score repaired, look for a paralegal or lawyer that is experience in credit repair.

8. If you have credit cards or loans that you are having problems paying, call the lenders and try to work out a lower payment or deferred payment for a month or two.

9. As you work on your credit, keep your present financial activities clean and up to date. Don't make late payments or overdraw on your credit cards.

Your credit worthiness is based on your credit score. This score depends on you paying back what you borrowed and on time. If you can not pay your loan on time, call the lender or Credit Card Company and see if they will extend your payback time without reporting lateness to the credit agencies.

Here's a start on rebuilding your credit. Get prepaid credit cards or a card that requires a savings account. With this card buy those things you normally buy, and then pay the card with a week or two. If you do this, then in the future, you will not need to work so hard to do any type of credit score repair.