Learn How to Clean Up Your Credit File
Having bad credit is not fun. It can keep you from driving your dream car and even hurt your chances for a promotion at work. That is why if you are in this situation, you should address it right away. Let's look at some easy things that you can do.
Dispute Derogatory Items
Every credit repair attempt should begin with a through review of your credit file. Make a note of the items that will need your attention. Take a look at items that are both correct and incorrect.
Once you have identified the items in your credit file that need addressing, it is time to dispute these items with the credit bureaus. You should start with the two items that you feel are having the biggest impact on your overall credit score. You can get keys to the reason your score is what it is by looking at the reason codes on your report.
Once you know the items you are targeting for removal, you will need to write letters to the credit bureaus. They will then give the lenders 30 days in which to respond. You will be notified that the item was either removed from your credit file or not.
Forced Verification
If you were not successful in getting the item removed from your credit report, then you have two options. You can try disputing again or move on to forced verification. When you do a forced investigation, you contact the creditor rather than the credit bureaus. Tell them that you do not believe that the account is yours or and you want proof that it is. You can also state that you were not late and you want proof that you were. Request that they investigate the account and provide you with a copy of your original contract and all records relating to your account.
Establish Good New Credit
An overlooked part of credit restoration is establishing good new positive accounts. This can be as easy as getting a secured credit card. Secured credit cards are often called guaranteed cards because there is not credit qualifying. Just make sure you pick a card that does not have high fees and that reports to all three credit bureaus. Most secured cards do these days, but you want to be careful!
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