Fix Bad Credit
If you have a low credit score contrary to popular belief you do not have to just wait seven years for your credit report to naturally repair it self. You can take action today and remove bad credit items from your report.
The Fair Credit Reporting Act says that you can dispute any item that you do not believe to be accurate on your credit report. It also says that any item that can not be verified must be removed from your credit.
You can dispute an item through the dispute process. This is done yourself by writing a dispute letter or you can hire a service to dispute items on your behalf.
The bureau will receive your dispute and investigate. They will contact the lender and ask them to verify the dates on the account and the balance.
If the account is not verified then it must be removed from your credit report. It has been found that items older than 2 years, charge offs, repossessions, late payments and discharged bankruptcies are easier to remove from your credit.
This is a result of these lenders having received some form of payment. For example a charged off account has likely been sold to a collection agency. Thus the credit card issuer has no reason to save your account or records of it.
Recent delinquent accounts, tax liens, judgments, and bankruptcies are more difficult to remove. If you have one of these marks then hiring a service is a good idea, because they have advanced dispute tactics.
If you have a service and your disputed item is verified then they can use advanced dispute techniques to remove the item. The techniques include; creditor direct intervention, escalated dispute information requests, and debt validation.
In addition it will help your credit score if you open a revolving line of unsecured credit. I suggest a bad credit credit card. This will help you build a positive payment history which is very important when your score is being calculated.
In sum, you should not wait seven years for credit repair to occur naturally. You can take steps today and rebuild your score.
The Fair Credit Reporting Act says that you can dispute any item that you do not believe to be accurate on your credit report. It also says that any item that can not be verified must be removed from your credit.
You can dispute an item through the dispute process. This is done yourself by writing a dispute letter or you can hire a service to dispute items on your behalf.
The bureau will receive your dispute and investigate. They will contact the lender and ask them to verify the dates on the account and the balance.
If the account is not verified then it must be removed from your credit report. It has been found that items older than 2 years, charge offs, repossessions, late payments and discharged bankruptcies are easier to remove from your credit.
This is a result of these lenders having received some form of payment. For example a charged off account has likely been sold to a collection agency. Thus the credit card issuer has no reason to save your account or records of it.
Recent delinquent accounts, tax liens, judgments, and bankruptcies are more difficult to remove. If you have one of these marks then hiring a service is a good idea, because they have advanced dispute tactics.
If you have a service and your disputed item is verified then they can use advanced dispute techniques to remove the item. The techniques include; creditor direct intervention, escalated dispute information requests, and debt validation.
In addition it will help your credit score if you open a revolving line of unsecured credit. I suggest a bad credit credit card. This will help you build a positive payment history which is very important when your score is being calculated.
In sum, you should not wait seven years for credit repair to occur naturally. You can take steps today and rebuild your score.
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posted by Debt Consolidation Loan at
12:00 AM
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