2 Minutes Credit Repair Explained
Home & Mortgage
First you have to learn how to analyze all the data presented on your credit report then become a master at disputing these claims. With the credit bureau you will have to find anything that is incomplete, inaccurate or just wrong. If anything has been recorded wrongly you have the right to dispute it even if you do posses the debt. The bureau then has 30 days by law to correct any wrong items or delete entirely from your report. It might take them up to 6weeks to send you a new report and you should check if the disputed items have been removed or updated. If you have not received a reply within 6 weeks send a follow up letter with all the older correspondences and remind the credit bureau about the 30 day law.
There are ways to get around the technicalities of the dispute. Always make sure that you do not dispute more than 3 items at one time. Once those 3 items have been updated or removed entirely, then you move on to the next 3. Understand also that sometimes when you dispute, the negative entry does not just automatically come off your credit report. You have to be very persistent and keep on writing to the credit bureau till they eventually come off. Understand that credit repair is not a sprint but a marathon.
Areas to be disputed include ?Charge offs?, ?Paid as Agreed?, ?Tax Liens?, ?Late Payments?, ?and Bankruptcy?. These constitute the majority of negative items that occur on a credit report. On each and ever one you have to quote the ?account name? and ?account number?, then write detailed letters to each of the three credit bureau stating that all accounts have either been paid in full or do not belong to you. Credit bureaus usually perform an investigation into the debt by contacting the creditor. What you should know is that many creditors either don?t have the time or don?t have any documents to prove the debt. A lot of times if a negative item is more than 3 years old, many creditors will not respond to the credit bureau inquiries because of lack of records. This means that the negative entry must be deleted from your credit by law.
Steps to Dispute
1) Obtain your credit report
2) Decide which items you want to dispute.
3) Write letters.(The acceptable format can be found at ASANIWELLS WEBSITE, see link below)
4) Always hand write your letters.
5) Keep copies of all correspondence.
6) Keep separate file copies on each credit bureau.
7) Keep on writing and following up as they reply.
Learn more about credit repair and obtain official letters at www.1800aaacredit.com
The ASANIWELLS FINANCIAL GROUP is dedicated to helping ordinary people change their lives for better and erasing the stigma of having a bad credit score.The Asani Wells financial group consists of ex-Bureau employees and agency solicitors who have combined years of knowledge of the credit score system into this easy to read downloadable EBOOK. Please visit http://www.1800aaacredit.com for more details.
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