The Simplest Way To Get Bad Items Removed From Your Credit Report
Many people don’t know this, but it IS possible to get negative items removed from your credit report in less than the traditional 7 year time frame. This is something that you should take the time to understand because just one single inaccurate item showing on your credit report can be very damaging.
Getting these negative items removed can be a painless process if you know what you are doing and you use the laws that protect consumers to your advantage. Many people also do not realize that if a credit agency does not remove a negative item, you have the legal right to sue them.
If you have negative items on your credit report, here is how you can get them removed.
- First, Get A Copy Of Your Credit Report From All Three Agencies
Make sure that you get a copy of your credit report from all three credit reporting agencies, only then will you get a truly accurate picture of where your credit stands. If you have not ordered a credit report yet this year, you are legally entitled to one credit report from each of the three credit reporting agencies once a year. You can access them by going to www.annualcreditreport.com
Once you have your reports, look at each account in detail.
Do you see anything that you have a question on? Is there something that you don’t recognize?
If something looks suspicious to you or if you have a question, highlight the item. Don’t just assume that what is on your credit report is accurate, it is very possible for a credit company to put a negative item on your credit report in error – and they do so all of the time.
2. Starting The Process Of Disputing An Item
Start by looking for the credit agency’s address, once you have found the main address you will then check to see what the dispute address is. If you cannot find this address on the credit report paperwork, you can usually find it on the credit agency’s website.
Now you want to look at the expected response times and the policies for removing an item. Be sure that you know these things before you start a dispute so that you know what to expect.
Typically, getting a response will take about 30 days. If you fail to get a response after that time, you might be eligible for some type of legal action, but either way you have to know what the policies of the credit agency are.
3. Your Next Step
One of three things will happen once you’ve sent in your dispute letter:
1. They respond and remove the item. In this case, no further action needs to be taken.
2. They respond and say that the item is not an error. They need to also provide documentation stating why this is the case, including the actual credit filing by the creditor. Look over the filing. Was this account opened by you? If not, you may have an identity theft issue on your hands. If it was, but is being incorrectly reported, you need to contact the creditor directly to work out the issue.
3. They don’t respond. In this case, you have certain rights, sometimes including the right to have the items removed or the right to a lawsuit. Consult a lawyer for specific rights in this case.
The whole process of disputing a report item should take no more than three hours. Yes, just three hours could really make a difference in your credit. Those three hours could result in your ability to open credit cards, your ability to buy a home or your ability to buy a car at much better rates.
Restoring your credit can be simple – if you know what you are doing. We have a system that will show you step by step how to get negative items deleted of your credit report (including bankruptcies, judgments, collections, and late pays). You can learn more about our ULTIMATE CREDIT REPAIR SYSTEM BY GOING HERE.