subject: Effective Legal Steps On How To Clean Up Your Credit Report [print this page] How can I clean up my credit report? That is a common question a lot of people ask once they find out that most lending companies do not accept their loan applications because of bad credit reports. Most people would say that it is legally impossible but you should not lose hope since it is actually possible to clean up credit report legally.
The following are effective steps you can follow to legally clean up credit score:
Acquire your credit report through the government-sponsored website annualcreditreport.com; the website provides a copy of your credit report that is no-obligation and no-cost annually as it is a requirement set by the Fair Credit Reporting Act or the FCRA.
Find the negative reports and determine if they can be disputed legally. Your claims for the dispute should be valid as agencies can reject your claims if they seem quite frivolous. It is suggested that you find minor errors like misspellings, incorrect amounts, dates, and account numbers as these types of disputes are legally allowable.
Choose TransUnion, Equifax, and Experian as your credit reporting agencies as they are provided by the FCRA; submit your dispute letter to these three agencies indicating the disputed points and an explanation for each. It is important that you use certified mail and you request a delivery receipt that is dated. Each of the agency you sent your claims to have thirty days, starting from the date of acceptance, to investigate your claims.
Points that you have disputed should be pulled out by the agency if the creditor fails to confirm it within the 30 day time frame. You will be notified by the agencies with their investigations and they will automatically remove the points that have not been confirmed by the creditors.
If the agency fails to notify you within the given thirty day time frame, you are allowed to demand the needed action through sending them another certified letter.
If the negative items have been validated and your credit report is still negative, you can still find new grounds to dispute them as long as the reason for the dispute is new each time you send it to the agencies.
