Credit repair is not rocket science,but it does take time and commitment. It's also easy to make a costly mistake if you don't know what you're doing. So here are a few pitfalls to look out for if you decide to go it alone and repair your own credit.

Put it in writing.

It's a good idea to avoid talking to the credit bureaus or creditors over the phone. First of all, you'll have no documentation of your conversation or what they agreed to do for you. Second, you can control what you say in a letter, but if you get on the phone, you might verify some debt that you're hoping to get removed from your credit profile.

Identify and rank trouble accounts.

Once you get a copy of your credit report, find the negative accounts you want to dispute and rank them by most to the least damaging. Below is a list in order of the most damaging to the least damaging negatives that will affect your credit score.

• Bankruptcy
• Foreclosure
• Court Judgments
• Repossession
• Loan Defaults
• Collections
• Late Payments
• Credit Inquiries

Disputing inaccurate items.

Keep in mind that the bureaus must delete any negative account that can't be verified within 30 days. Inaccurate accounts more than one year old will probably be the easiest to have removed.

Don't send a blanket dispute for every negative item on your report. Chances are, the bureau will decide you're disputes are "frivolous" and you'll have to start over. Once you alienate the bureaus, it becomes a lot harder to get anything corrected, no matter how inaccurate it is.

If you don't get the result you want the first time, be persistent. If you have documentation that proves your claim, send it. If not, wait a while and dispute some other detail about the account you want removed. A good rule of thumb for disputing the same account a second time is to wait 60 - 90 days.

Let the bureaus do their job.

The burden is on the credit bureau to verify an account once you've sent in a dispute. If you have paperwork that supports the DELETION of an account, send it with your dispute letter. Otherwise, don't help them do their job.

For example, the bureaus may ask for a copy of your bankruptcy papers. But remember, you are not obligated to send these and if you do, you've just verified every single account included in your bankruptcy. This could actually make your score WORSE!

A special tip for credit restoration after bankruptcy.

By law, the bureaus cannot report any negative information after you file bankruptcy. If they do, they are in violation of the permanent injunction afforded by your bankruptcy discharge. Anything that happened prior to your bankruptcy can stay, but once you file, the only thing they can say is "Included in Bankruptcy."

This reporting rule includes "charge off." Yes, the creditor may have charged off your balance due to your bankruptcy, but unless it was charged off prior to the day you filed, they can't say that. Again, all they can report is "Included in Bankruptcy."