Fix Bad Credit
If you have bad credit there is hope. You do not have to wait seven years for bad credit items to naturally fall off your credit 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.
For you to dispute an item you must create a dispute letter. You can do this yourself or you can hire a service to do it on your behalf.
Once the bureaus get your letter they will investigate the dispute. They will contact the creator of the item and get them to verify the account, the account balance, and the dates on the account.
However if the creditor does not verify the account then the item must be removed from your report. It has been learned that once a charge off, repossession, and late payment have aged 2 years there is a high success rate that they will not be verified by the creditor.
After two years the lender has received some form of payment. For example with a charged off credit card account the debt has been sold to a collection agency, and the lender has no need to save any record of your account.
With judgments, bankruptcies, tax liens and recent delinquent accounts it is more difficult to remove these items from your credit. If you have one of these we suggest a service because they have more tactics they can use to remove an item.
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.
You can help your score by building positive credit too. This can be done by opening a new revolving line of credit such as an unsecured credit card. This will help you create a positive payment history and improve your available credit to debt ratio.
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.
For you to dispute an item you must create a dispute letter. You can do this yourself or you can hire a service to do it on your behalf.
Once the bureaus get your letter they will investigate the dispute. They will contact the creator of the item and get them to verify the account, the account balance, and the dates on the account.
However if the creditor does not verify the account then the item must be removed from your report. It has been learned that once a charge off, repossession, and late payment have aged 2 years there is a high success rate that they will not be verified by the creditor.
After two years the lender has received some form of payment. For example with a charged off credit card account the debt has been sold to a collection agency, and the lender has no need to save any record of your account.
With judgments, bankruptcies, tax liens and recent delinquent accounts it is more difficult to remove these items from your credit. If you have one of these we suggest a service because they have more tactics they can use to remove an item.
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.
You can help your score by building positive credit too. This can be done by opening a new revolving line of credit such as an unsecured credit card. This will help you create a positive payment history and improve your available credit to debt ratio.
In sum do not wait to repair your credit score. You can remove bad credit items and improve your score today.
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For more tips to repair credit or to read a review of Lexington Law a suggested credit repair service visit us.
posted by Debt Consolidation Loan at
2:55 AM
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