Erase Bad Credit
If you have a low credit score contrary to popular belief you do not have to just wait seven years for your credit report to naturally repair it self. You can take action today and remove bad credit items from your 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.
You can dispute an item through the dispute process. This is done yourself by writing a dispute letter or you can hire a service to dispute items on your behalf.
Upon receipt of a valid dispute letter the bureau will investigate the item. They will ask the creditor to verify the account, the balance and the dates of delinquency.
However if the creditor does not verify the account then the item must be removed from your report. It has been learned that once a charge off, repossession, and late payment have aged 2 years there is a high success rate that they will not be verified by the creditor.
This is a result of these lenders having received some form of payment. For example a charged off account has likely been sold to a collection agency. Thus the credit card issuer has no reason to save your account or records of it.
Recent delinquent accounts, tax liens, judgments, and bankruptcies are more difficult to remove. If you have one of these marks then hiring a service is a good idea, because they have advanced dispute tactics.
When an item is verified a service can use advanced dispute techniques to dispute the item. These include; escalated dispute information requests, debt validation, and creditor direct intervention.
You can also help your credit score by opening a revolving unsecured credit line. This will help your score because you can create a positive payment history and improve your ratio of debt to available credit.
In sum do not wait to repair your credit score. You can remove bad credit items and improve your score today.
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.
You can dispute an item through the dispute process. This is done yourself by writing a dispute letter or you can hire a service to dispute items on your behalf.
Upon receipt of a valid dispute letter the bureau will investigate the item. They will ask the creditor to verify the account, the balance and the dates of delinquency.
However if the creditor does not verify the account then the item must be removed from your report. It has been learned that once a charge off, repossession, and late payment have aged 2 years there is a high success rate that they will not be verified by the creditor.
This is a result of these lenders having received some form of payment. For example a charged off account has likely been sold to a collection agency. Thus the credit card issuer has no reason to save your account or records of it.
Recent delinquent accounts, tax liens, judgments, and bankruptcies are more difficult to remove. If you have one of these marks then hiring a service is a good idea, because they have advanced dispute tactics.
When an item is verified a service can use advanced dispute techniques to dispute the item. These include; escalated dispute information requests, debt validation, and creditor direct intervention.
You can also help your credit score by opening a revolving unsecured credit line. This will help your score because you can create a positive payment history and improve your ratio of debt to available credit.
In sum do not wait to repair your credit score. You can remove bad credit items and improve your score today.
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posted by Credit Counseling at
12:59 AM
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