Fixing A Credit Report
Fixing a credit report begins with looking closely at this document. You can get a free credit report online (just look up “free credit report”). You can request your credit report for free once per year. You can also get a free copy of your credit report if you are denied credit based on the report provided by a particular credit reporting agency, as long as you request this within 30 days of the denial.
Reading your credit report should answer the question of why you were turned down. However, how can you set things right again? What do you do if you see inaccurate items on your report or ones which you feel to be unfair, even if they are accurate?
If there are items on your credit report, you can dispute them (in writing) with the credit bureau. They will have to investigate within 30 days. Be sure to send your dispute by certified mail and include copies of any supporting documentation you may have.
The credit reporting agency then has to contact the source of the disputed item. If the agency does not receive proof that the debt is valid within 14 days, they will remove this item from your credit report. You can request that they send this updated report to any creditors who have seen your previous report in the last six months. You need to ask specifically for this, since it is not done automatically.
If the item is over a year old or amounts to less than $500, many creditors will see it as not worth their time and will not respond to the credit reporting bureau. Fixing a credit report can be done, even if the items contained are accurate. Even if you can’t have an item removed the first time you try, you are allowed to dispute it again after 30 days have passed.
If you cannot have an item removed, you will be allowed to provide a short explanation of the item (this can be up to 100 words long). This explanation can be up to 100 words in length.
If there is a long history of late payments and defaults, repairing your credit score can be a long term project. However, you can correct some of the problems and provide an explanation for others. This kind of effort will go along way in helping to fixing your credit report .
