In some cases, thorough credit repair entails getting rid of derogatory and negative items in your annual credit report.
However, not everyone knows the exact entries they should dispute in their credit files. Do you belong to this group of consumers? If you do then, we suggest you pay close attention to the items we have enumerated and discussed below.
However, not everyone knows the exact entries they should dispute in their credit files. Do you belong to this group of consumers? If you do then, we suggest you pay close attention to the items we have enumerated and discussed below.
4 Things to Watch out for
Outdated credit accounts and incorrect payment records – Review all your transactions and look for outdated and/or incorrect entries in your payment and credit history.
If you stumble upon an account that you have settled, a few years back, or an inaccurate payment amount; then, you should write and send a letter of credit dispute to the company that issued the unreliable document. In your letter, ask the firm to immediately correct the items you’re disputing. And don’t forget to attach to your letter receipts, files or proofs of payment that will support your claim.
Fraudulent charges – Have you encountered unauthorized transactions in your credit report? If you have then, we advise you to call up the credit reporting agencies and ask their employees to subject your credit records either to a freeze, or to a credit fraud alert. Moreover, you should request the employees to get rid of such items in your credit file and invoke your limited liability privileges with your card issuer.
Court judgments and negative items that are past the statutes of limitations in your state – Entries like charge-offs, foreclosures, tax liens, and bankruptcy records are known to inflict long-term damage to a person’s credit history. However, such items should only be retained in your credit file for at least seven to ten years. After this period, the derogatory marks in your annual credit report should be eliminated, completely.
Now, if you think your report contains public records information that should have been deleted from your file, a long time ago; then, now’s your chance to dispute them with the employees of the major credit bureaus.
Minor errors in your personal and contact information – Keep an eye on your personal and contact details, as misspelled names, outdated phone numbers, inaccurate home or office addresses, and missing digits in your Social Security Number can have a negative impact in your credit history.
Hence, just to be safe; it would be best to ask for an immediate update in your personal information.
We value your thoughts and comments on this piece! Hope you’ll take the time to post them using the form at the right!
Image courtesy of imagerymajestic / FreeDigitalPhotos.net
Outdated credit accounts and incorrect payment records – Review all your transactions and look for outdated and/or incorrect entries in your payment and credit history.
If you stumble upon an account that you have settled, a few years back, or an inaccurate payment amount; then, you should write and send a letter of credit dispute to the company that issued the unreliable document. In your letter, ask the firm to immediately correct the items you’re disputing. And don’t forget to attach to your letter receipts, files or proofs of payment that will support your claim.
Fraudulent charges – Have you encountered unauthorized transactions in your credit report? If you have then, we advise you to call up the credit reporting agencies and ask their employees to subject your credit records either to a freeze, or to a credit fraud alert. Moreover, you should request the employees to get rid of such items in your credit file and invoke your limited liability privileges with your card issuer.
Court judgments and negative items that are past the statutes of limitations in your state – Entries like charge-offs, foreclosures, tax liens, and bankruptcy records are known to inflict long-term damage to a person’s credit history. However, such items should only be retained in your credit file for at least seven to ten years. After this period, the derogatory marks in your annual credit report should be eliminated, completely.
Now, if you think your report contains public records information that should have been deleted from your file, a long time ago; then, now’s your chance to dispute them with the employees of the major credit bureaus.
Minor errors in your personal and contact information – Keep an eye on your personal and contact details, as misspelled names, outdated phone numbers, inaccurate home or office addresses, and missing digits in your Social Security Number can have a negative impact in your credit history.
Hence, just to be safe; it would be best to ask for an immediate update in your personal information.
We value your thoughts and comments on this piece! Hope you’ll take the time to post them using the form at the right!
Image courtesy of imagerymajestic / FreeDigitalPhotos.net
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