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 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.
However, if your credit report is a problem because of a history of defaults and late payments, than fixing a credit report can take time. Even if this is the case, you can clear up some items and give an explanation of others. This will make your credit report a little better while you work to rebuild your credit history.
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 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.
However, if your credit report is a problem because of a history of defaults and late payments, than fixing a credit report can take time. Even if this is the case, you can clear up some items and give an explanation of others. This will make your credit report a little better while you work to rebuild your credit history.
About the Author:
About the Author: iFixCreditReport is your online source that helps to fix credit reports. If you are trying to fix your credit report, check out all sorts of informative articles and tips that are posted on this site.
posted by Credit Counseling at
6:57 AM
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