What You Should Know About Fixing a Credit Report
Fixing a credit report begins with looking closely at this document. You can get a copy of your credit report for free online; just search for free credit report. You can get a free copy of your credit report once a year; also, if you are denied credit on the basis of your credit report, you may then request a free credit report from that credit reporting bureau (this must be done in writing within 30 days of the denial of credit).
One look at your credit report should give you the answers you need on why you were turned down for credit. However, how can you set things right again? Is there items on the report which are inaccurate, or ones which are correct but that you feel to be unfair?
If there are items on your credit report, you can dispute them (in writing) with the credit bureau. You have to tell them that a given item is incorrect and by law they must investigate the matter within 30 days. You should send your dispute via certified mail and include any supporting documentation (for example, canceled checks and the like).
The credit bureau will contact the organization which reported the item in dispute; they will then have 14 days to respond with proof. If they do not do so, then the credit agency must remove the item from your credit report. Afterwards, they will send you an updated copy of your report and if you ask them to do so, they will also send a copy to any creditor who has asked to see your report in the last six months. However, if you want this done, ask the bureau to do so " they will not do this unless you ask.
A lot of creditors wont bother to write back to the credit agency if the item in dispute is less than $500 or is over a year old. Fixing a credit report can be done, even if the information on it is accurate. Even when you dont manage to have a dispute resolved to your satisfaction on the first attempt, you are permitted to submit another dispute after 30 days.
If you cannot have an item removed, you will be allowed to provide a short explanation of the item (this can be up to 100 words long). This explanation will be viewable to any prospective creditor who looks at your credit report.
Fixing a credit report can take some time if it contains a lot of late payments or defaults on loans. However, you can often have some items removed and add explanations of others, which will make your credit report a little more positive while you begin the process of getting current with payments and fixing your credit rating.
One look at your credit report should give you the answers you need on why you were turned down for credit. However, how can you set things right again? Is there items on the report which are inaccurate, or ones which are correct but that you feel to be unfair?
If there are items on your credit report, you can dispute them (in writing) with the credit bureau. You have to tell them that a given item is incorrect and by law they must investigate the matter within 30 days. You should send your dispute via certified mail and include any supporting documentation (for example, canceled checks and the like).
The credit bureau will contact the organization which reported the item in dispute; they will then have 14 days to respond with proof. If they do not do so, then the credit agency must remove the item from your credit report. Afterwards, they will send you an updated copy of your report and if you ask them to do so, they will also send a copy to any creditor who has asked to see your report in the last six months. However, if you want this done, ask the bureau to do so " they will not do this unless you ask.
A lot of creditors wont bother to write back to the credit agency if the item in dispute is less than $500 or is over a year old. Fixing a credit report can be done, even if the information on it is accurate. Even when you dont manage to have a dispute resolved to your satisfaction on the first attempt, you are permitted to submit another dispute after 30 days.
If you cannot have an item removed, you will be allowed to provide a short explanation of the item (this can be up to 100 words long). This explanation will be viewable to any prospective creditor who looks at your credit report.
Fixing a credit report can take some time if it contains a lot of late payments or defaults on loans. However, you can often have some items removed and add explanations of others, which will make your credit report a little more positive while you begin the process of getting current with payments and fixing your credit rating.
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Author: iFixCreditReport is your source that helps to fix credit reports. If you are looking to fix your credit report, please check out tons of informative articles and tips that are posted on this site.
posted by Debt Consolidation Loan at
5:31 AM
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