Credit Clean Up

Credit Clean Up Guide - How to Erase Negative Items And Repair Your Credit Report Fast

If you want to clean up your credit, you can do it yourself. You don't need to hire a legitimate credit repair company because if you have the time and correct information, you can fix your own credit report. You can ask for the removal of negative credit items from your credit file. By law the credit bureaus must remove negative items from your report if they cannot prove or verify that the items are truly yours.

Your credit report contains information about your debts and payment histories. Information such as your name, current and previous addresses and public records, also are contained in your file. This information is supplied to the credit reporting agencies by your creditors. If a creditor provides erroneous information, that inaccurate information will be included on your record and will have an impact on your rating. You have the legal right to dispute any information that appears on your report. If any disputed item cannot be verified, it must be deleted from your report.

Before you do anything, you should order your report and review it for inaccurate entries. You are allowed to obtain one free report every year from each of the major reporting agencies: Experian, TransUnion and Equifax. You may obtain your reports online or by mail.

Once you have received your reports, carefully go through them. Look for reporting errors such as accounts that are not yours, accounts that are showing wrong dates or other items that you believe should not be on your report.

If there are old negative entries, such as collection accounts, credit card charge-offs or delinquent medical bills get them removed. Old credit items are only allowed to stay in your credit file for a certain number of years. By law, derogatory entries must be removed after the specified time period.

Write a dispute letter to get the negative record removed from your report. Send a copy to each agency that sent you an inaccurate report. Explain which entry on the report is erroneous or inaccurate and demand that the agency remove it.

Send the dispute letter to the agency and wait for them to receive and process it. The Fair Credit Reporting Act permits a certain number of days for credit bureaus to look into a dispute and get back to you. When they have completed their investigation, they will notify you of the outcome and provide you with an updated copy of your report.

It is important that you learn the correct way to approach the dispute and repair process. Do it right and you will have a spotless record. Do it the wrong way and your record might get even worse. SO be sure to follow the proven method of disputing bad credit record and repairing your credit rating.

by: Eugene Medame

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