You do not have to just wait for negative marks on your credit report to fall off. You can remove them and improve your credit 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.
To dispute an item you must create a dispute letter and send it to each credit bureau. You can hire a service to create this letter or do it yourself.
Upon receipt of a valid dispute letter the bureau will investigate the item. They will ask the creditor to verify the account, the balance and the dates of delinquency.
If the creator is unable to verify the account then it must be deleted from your report. The easiest items to remove have been learned to be a charge off, repossession and a late payment after they have aged for two years.
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 do not wait to repair your credit score. You can remove bad credit items and improve your score today.
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.
To dispute an item you must create a dispute letter and send it to each credit bureau. You can hire a service to create this letter or do it yourself.
Upon receipt of a valid dispute letter the bureau will investigate the item. They will ask the creditor to verify the account, the balance and the dates of delinquency.
If the creator is unable to verify the account then it must be deleted from your report. The easiest items to remove have been learned to be a charge off, repossession and a late payment after they have aged for two years.
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 do not wait to repair your credit score. You can remove bad credit items and improve your score today.
About the Author:
For more credit repair tips or to read a review of Lexington Law Firm a suggested credit repair service visit us.
0 comments
Post a Comment