Credit Repair Is Your Right

Business, Financing.

Things to know before repairing your credit - there are certain things that are very helpful to know before you embark on your journey of credit repair. Credit repair is your right.

This article will cover these points. - you may feel somewhat guilty for making a mess of your credit, but there' s no reason to spend time punishing yourself. Make a record of all of your dealings with them, because you may well end up in dispute with their version of facts. When you deal with the credit reporting agencies, you need to be clear headed and unemotional. The main right you have as a consumer is to have accurate information reported on your credit report. Recent studies have shown that a large percentage of all information reported by credit reporting agencies is inaccurate or outdated. The reason behind the Fair Credit Reporting Act is to make sure that people have a mechanism to dispute potentially negative credit data.

It behooves you to make sure the information is up to date, and positive. - one key area to make sure to dispute is any wrong address data. Removing negative tradelines will greatly increase your credit score, which will result in lower interest rates across the broadest spectrum of loan products. If it' s an old address that you don' t live at anymore, and in particular it' s associated with a bad account, you' ll want to make sure to dispute it with all 3 major credit reporting agencies. Once you' ve successfully disputed your old addresses you' re in a better position to argue your other derogatory items. There is no way for them to prove you live at an address that you say you don' t live at, so simply dispute the line item as" never lived at this address" and you should have a very high degree of success in removals. You' ll want to keep very accurate records as you do this, because the CRAs only have 30 days to respond, and you' ll want to hold them to their obligation.

This clearly shows the CRA that you" mean business" and it also helps protect your 30 day dispute period. - the best way to ensure their compliance is to use a return - receipt requested mail so that you have a signature and a date and time stamp of when the letter was received. Even if the CRA has an infraction, it will be up to you to document it and to follow up and get the negative info removed. The process of credit repair can take six months or longer for results to be evident. Truth be told, dealing with the CRAs is usually not easy, but sheer dilligence should ensure your success in the long run. But it' s something that can be done. for very little money, and with very little effort. Studying the Fair Credit Reporting Act will be the best method you can find for learning what your rights are, and you can easily join the Credit Repair Forum to ask specific questions from people who have been in the same situation as you, and have successfully clawed their way back to the top.

You need to maintain a positive attitude, and follow up, keep excellent records. - good luck with all of your efforts.