Quick Tips On How to Repair Your Credit Report
Home & Mortgage
With so much of today?s living based on personal credit the importance of having a good credit report cannot be stated enough. Today your credit report impacts your ability to get a loan, to get a car, to rent an apartment just to name a few things that are impacted by your credit report and credit rating. You may and are usually denied access to credit if your credit score is low which makes your credit rating bad, making you ineligible for credit and a high credit risk.
Of course if you are denied credit under any circumstance you can choose to see your credit report and see the reason why you were denied credit. Being denied credit due to a bad credit score should not be surprising to you if you already know your credit score is bad. What should be the concern is how to repair your credit report as quickly as possible and be able to get credit securely without fear of being denied.
One of the quick ways to start repairing your credit report is by direct contact with the reporting agency. If you find an inconsistency in your credit report the first thing to do is to point out the inconsistency and send any supporting documents that will clarify the discrepancy. The advantage of this is that the agency is compelled by law to investigate the issue and correct your credit report.
When you do contact the credit report agency they are compelled to investigate the particular company you have the dispute with. Here?s why this is one of the fastest ways to repair you credit. If within two weeks there is no confirmation from the company being disputed they must remove the item from your credit report thereby improving your credit score and credit rating. But you have to be vigilant about this as it requires a follow up from you to ensure that later part is actually done.
Here is a little secret as to why this is the best kept secret to repairing your credit. Most creditors usually will not respond if the item has been in existence longer than a year old and is less than five hundred dollars. There is also the added bonus of retrying a second time if the first is not completely successful after an initial thirty day period.
Most people don?t know this and it is another secret you can use to your advantage. You can actually add explanatory comments to your credit report which is permanent. Anyone who views your credit report will see this and factor your explanation in any decisions towards extending credit to you. This works best if you have a plausible explanation, like a charge that should not have been.
Many people who have been hit with credit problems and bad credit reports usually loose all hope in repairing their credit. This should not be as there are little known secrets that can help repair and put credit report back in order really fast and in short order.
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