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 that was passed by Congress gives you the right to dispute any item on your report. This act also makes it law that if the item is not verified by the creditor then the bureau must delete it from your credit report.
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.
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 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 because the creditor has gotten some form of payment for your debt. For example with a charged off credit card the creditor has sold your debt to a debt collector. Therefore the creditor has no reason to save records of your account.
This account will be deleted when disputed. It is more difficult to remove; judgments, tax liens, recent bankruptcies and recent delinquent accounts. This is when having a service to dispute your credit can be very helpful.
A service can use more advanced methods to remove an item if it is verified by the lender. A service can use; 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 that was passed by Congress gives you the right to dispute any item on your report. This act also makes it law that if the item is not verified by the creditor then the bureau must delete it from your credit report.
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.
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 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 because the creditor has gotten some form of payment for your debt. For example with a charged off credit card the creditor has sold your debt to a debt collector. Therefore the creditor has no reason to save records of your account.
This account will be deleted when disputed. It is more difficult to remove; judgments, tax liens, recent bankruptcies and recent delinquent accounts. This is when having a service to dispute your credit can be very helpful.
A service can use more advanced methods to remove an item if it is verified by the lender. A service can use; 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 Credit Counseling at
3:36 PM
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