In the end, people like you looking into credit repair care about one thing, despite all the fancy lingo, unique tactics, and long-winded terms. Lifting a low credit rating. Right? No amount of “12 dollar phrases” can help you meet today’s demanding job application standards, lower your interest rate, or improve your insurance. An improved credit rating will.
Let’s examine the simple steps you may take to make this a reality.
1) Obtain duplicates of the three reports you submitted. TransUnion, Equifax, and Experian are the three leading credit reporting agencies. They each have a vital role, but they do not work together or as allies. They are COMPETITIVE, PRIVATE businesses that sell YOUR personal information to third parties like prospective landlords, employers, and lenders. The evaluating party may give each report more or less weight, depending on where you live. Credit reports from TransUnion tend to carry more weight in the Northeast, those from Equifax in the South, and those from Experian in the South and West. However, this is not an ironclad rule, and many lenders will request and consider all three of your reports.
2)Point up the negative aspects. Most things found in public archives are undesirable. Foreclosures, bankruptcies, and judgments are examples of negative items that will appear there initially. We shall focus on disputing negative public records with the relevant agencies. Check your report over carefully. Draw attention to any payment plan that has fallen behind or been written off. Discover all of your unfavorable, circular trade lines. They are assigned letters and numbers; an R1 or I1 (revolving or installment) indicates on-time and regular payments; an R9 or I9 indicates nonpayment or late payment. Take it as a scale from best to worst: we’re disputing anything that indicates a delay of 30, 60, or 90 days. The more time has passed since the infraction, the less of an immediate influence it will have on your score.
Third, give higher priority to the most severe delinquencies. Do what I said and stick to the basic rules I outlined. A delinquency three months ago is more detrimental than one two years ago, even if it fulfills the negative criteria above. Make a list, worst-to-best, of the worst aspects of each report, using your common sense. At the end of this process, you should receive three lists of the items that must be fixed on your credit report.
4) Examine the data from different reports and draw comparisons between them. Verify that item A is reported the same way in ALL three documents. If you look for them, you will discover inconsistencies. Do all three have the same date? Where do we stand with the debt? When did you last login? It’s safe to assume that each one will have somewhat different details reported on it. You should check the bureau’s records against your own if you’ve been keeping track of things (I know, most people don’t..:-). What happens if your dates show you became delinquent three months before they do in the report? They’re spreading false rumors in their reporting. The business must comply if a customer requests that their information be removed because it is inaccurate, incomplete, outdated, or unverifiable. Business as usual here!
If you see information that seems dubious or flat-out false, challenge it. Don’t sweat the small stuff; a disagreement over a few months’ worth of reporting time is HUGE and not inconsequential at all. Except for bankruptcies and some public record information, negative items on your credit report are required by law to be removed from your file within seven years of the ORIGINAL delinquency. You were reported as late the first month, not the last time the collection agency called. A year of financial hell and hundreds of dollars in interest payments can be avoided with just one distinction. Learn the ins and outs of the law and put in the time to study it. In the long run, you’ll be grateful to me.
A low credit score should not be treated lightly. If you’re 25 right now and plan on living to be 85, you’ll make the most progress professionally and financially over the next three decades. Suppose you have had adverse credit for seven years. In that case, that’s 20% of your life being discriminated against and having to work more than necessary to achieve the same opportunities that others take for granted. Don’t put your financial well-being at risk, either for you or your loved ones. Regardless of your background, it would be best if you were given a fair chance. And I’ve just given you almost everything you need to acquire it; all you have to do now is use it!
You are on the Cusp of a Promising Financial Future Right Now!
Click here to give yourself the gift of good credit [http://www.creditreportsecrets.com/goodcredit.html] this holiday season with more insider information, secret videos, and free downloads on how to raise your credit score quickly, ethically, and affordably.
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