|
Random Articles:
Some Steps Towards Credit Repair
Credit is an essential tool to most people's lives. A good
credit rating allows for many things that we take for...read more
Obtaining Your Credit Report - The First Step in Credit Repair
Your credit rating is one of the most important things in
determining your economic status. With a good credit rating,...read more
Using a Secured Credit Card for Credit Repair
How would you like to read some of the best, carefully distilled
and clearly presented facts and arguments about this hot...read more
Why "Do It Yourself Credit Repair" is the Best Option
Have you always wanted to learn more about credit repair? Then
I'm sure you've come to the right place.
This short...read more
Credit Repair Through Credit Counseling
Like many other things in life, budgeting is a skill. Some
people are better then others at managing their income...read more
Secrets Of Credit Repair
Rick Miller: Helping Credit Ridden Individuals Recover from Debt
Millions of individuals all around the world are in...read more
My Credit Repair Success Story
I desperately needed credit repair.
My credit stunk. It had for many years. I didn't know that
credit repair was...read more
Bad Credit Repair
Building your credit after repeated interruptions is a constant headache we all want to avoid. In this article I am going to...read more
|
|
Credit repair basics
James Mercer
Have you ordered your credit report? Remember by September 1, 2005 every state will be required to allow you to one free credit report each year. If you are denied credit for any reason you are entitled a free credit report. Under any other circumstances you will have to order one.
If you have ordered your free report, have you looked through to make sure everything is correct? If it isn't then this is the article you need to read.
How to report a credit error:
Each credit bureau needs to be contacted. One bureau may have the correct information while the other two are wrong. By contacting each credit bureau you eliminate the hassle of having to do the process again when you find out that you didn't do it right the first time.
When writing to the credit bureaus, address one mistake at a time. If you report more than one mistake the credit bureaus can, legally, say you are filing a frivilous report and do nothing about it. Keep your letters down to one mistake and one mistake only. Yes, this may take some time to get through all the mistakes, but it is time well spent.
Each of the credit bureaus have PO boxes specifically set up for complaints. They change their PO box addresses often to make it harder for customes to find and complain.
The credit agency must get in contact with the creditor that is reporting the late payment/incorrect data within 30 days and either change the data, if it is incorrect, or delete the data altogether. If they don't get a response from a creditor within the 30 day period they have to delete the data. This puts trying to correct mistakes to your advantage.
Trying to straighten out your credit can be a time consuming process and you may wish to use a credit agency to help you get everything correct. As always though, let the buyer beware. Credit repair scams are everywhere and if you don't watch out you can become a victim.
Persistency pays off by getting you a better credit rating and credit score. By repairing your credit you should be able to get a credit card, home loan, auto loan, refinance, etc., that you have been looking to get and be able to get it at better interest rates. This is all good for you...Because Money Matters
About the author:
James Mercer posts articles of interest to those wanting to learn more about the financial world the runs their life Monday-Friday at www.becausemoneymatters.blogspot.com
|
