How to Go About Fixing A Credit Report
Fixing a credit report starts with reading it carefully. You can go online and get a free credit report; just search for free credit report to get started. You can request your credit report for free once per year. You can also get a free copy of your credit report if you are denied credit based on the report provided by a particular credit reporting agency, as long as you request this within 30 days of the denial.
Once you see your report, youll know why you were denied credit. However, whats the next step? What do you do if you see inaccurate items on your report or ones which you feel to be unfair, even if they are accurate?
If you want to dispute anything on your credit report, then you can do so in writing to the credit agency. They are required to look into any disputes within 30 days. Be sure to send your dispute by certified mail and include copies of any supporting documentation you may have.
The credit reporting agency then has to contact the source of the disputed item. If the agency does not receive proof that the debt is valid within 14 days, they will remove this item from your credit report. They will send you an updated copy of your credit report and if you request, a copy of this new report will also be furnished to any creditor who has seen your report in the previous si months " remember to ask for this, since the agency will not do this otherwise.
Many creditors will not bother to respond to the credit agency if the disputed item is over a year old or if it represents a debt of under $500. This means that fixing a credit report is a possibility even when there are no inaccuracies on your report! Even if you cant have an item removed the first time you try, you are allowed to dispute it again after 30 days have passed.
If it is impossible to remove an item that you have disputed, you are permitted to add a brief explanation, which will be visible to anyone who pulls your credit report. This explanation can be up to 100 words in length.
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.
Once you see your report, youll know why you were denied credit. However, whats the next step? What do you do if you see inaccurate items on your report or ones which you feel to be unfair, even if they are accurate?
If you want to dispute anything on your credit report, then you can do so in writing to the credit agency. They are required to look into any disputes within 30 days. Be sure to send your dispute by certified mail and include copies of any supporting documentation you may have.
The credit reporting agency then has to contact the source of the disputed item. If the agency does not receive proof that the debt is valid within 14 days, they will remove this item from your credit report. They will send you an updated copy of your credit report and if you request, a copy of this new report will also be furnished to any creditor who has seen your report in the previous si months " remember to ask for this, since the agency will not do this otherwise.
Many creditors will not bother to respond to the credit agency if the disputed item is over a year old or if it represents a debt of under $500. This means that fixing a credit report is a possibility even when there are no inaccuracies on your report! Even if you cant have an item removed the first time you try, you are allowed to dispute it again after 30 days have passed.
If it is impossible to remove an item that you have disputed, you are permitted to add a brief explanation, which will be visible to anyone who pulls your credit report. This explanation can be up to 100 words in length.
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.
About the Author:
About the Author: iFixCreditReport is your online source that helps fix credit reports. If you are trying to fix your credit report, check out tons of informative articles and tips posted on this website.
posted by Debt Consolidation Loan at
7:26 AM
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