Insiders Guide To Deleting Bad Credit
It is not uncommon for life to throw us a curve ball sometimes. Such as a sickness in the family, getting laid off from a job, or simply not being able to make ends meet.
This results in falling behind on bills, and that will cause lenders to create derogatory marks on your credit report. There is a lot of information that claim negative marks must remain on your report for seven long years.
This couldnt be further from the truth. The truth is negative items can be removed and are removed every day.
To erase negative credit from your report you should dispute each item with the credit bureaus. This is done be writing a dispute letter in which you give a reason as to why the item is wrong such as; not my account, account paid in full, item is out of date, information is wrong, etc.
Upon receipt the bureaus will conduct an investigation. They will contact the creditor and ask them to verify the account, the dates on the account, and the balance of the account.
If it is not verified then it must be removed from your credit report. This is according to the Fair Credit Reporting Act a federal law.
This is the act that is cited when the claim that an item must remain on your credit report for seven years. However this act specifically and plainly says an item can remain on your credit report for a maximum of seven years, nowhere is anything said about the minimum amount of time a item must remain.
Unfortunately this incorrect information is leaving many feeling hopeless and frustrated paying the high cost of bad credit. However you dont just have to live with this, you can remove each and every negative item that is on any report.
The truth is every item can be erased.
You can write a dispute letter yourself or you can hire a service to dispute negative credit on your behalf. Disputing negative credit is legal and you will never face any monetary fines, jail time, or arrest.
The bureaus have paid for a large campaign to get these false beliefs across to consumers. This is because the bureaus are a business and it costs profits in man hours and resources every time they have to investigate a dispute.
Additionally if you dispute these items yourself be prepared for the bureaus stall tactics. Often they will respond to a dispute letter by requesting more information.
This isn't because they need the information but it is used as a stall tactic. This is often when individuals give up on repairing their credit and decide to just live with a low score.
Don't just live with the high cost of bad credit. You can dispute and erase any mark from your credit. This will help to provide you and your family with the quality of life that you deserve.
This results in falling behind on bills, and that will cause lenders to create derogatory marks on your credit report. There is a lot of information that claim negative marks must remain on your report for seven long years.
This couldnt be further from the truth. The truth is negative items can be removed and are removed every day.
To erase negative credit from your report you should dispute each item with the credit bureaus. This is done be writing a dispute letter in which you give a reason as to why the item is wrong such as; not my account, account paid in full, item is out of date, information is wrong, etc.
Upon receipt the bureaus will conduct an investigation. They will contact the creditor and ask them to verify the account, the dates on the account, and the balance of the account.
If it is not verified then it must be removed from your credit report. This is according to the Fair Credit Reporting Act a federal law.
This is the act that is cited when the claim that an item must remain on your credit report for seven years. However this act specifically and plainly says an item can remain on your credit report for a maximum of seven years, nowhere is anything said about the minimum amount of time a item must remain.
Unfortunately this incorrect information is leaving many feeling hopeless and frustrated paying the high cost of bad credit. However you dont just have to live with this, you can remove each and every negative item that is on any report.
The truth is every item can be erased.
You can write a dispute letter yourself or you can hire a service to dispute negative credit on your behalf. Disputing negative credit is legal and you will never face any monetary fines, jail time, or arrest.
The bureaus have paid for a large campaign to get these false beliefs across to consumers. This is because the bureaus are a business and it costs profits in man hours and resources every time they have to investigate a dispute.
Additionally if you dispute these items yourself be prepared for the bureaus stall tactics. Often they will respond to a dispute letter by requesting more information.
This isn't because they need the information but it is used as a stall tactic. This is often when individuals give up on repairing their credit and decide to just live with a low score.
Don't just live with the high cost of bad credit. You can dispute and erase any mark from your credit. This will help to provide you and your family with the quality of life that you deserve.
About the Author:
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posted by Credit Counseling at
1:25 AM
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