How To Fix Credit
The First step on How to fix Credit is to stay on top of your credit situation with the 3 credit bureau, request a tri merge credit report. Know what your credit says and make sure that what it shows is accurate.
Dispute all inaccuracies using a credit dispute letter, Remember, you must dispute true credit report inaccuracies. If the credit bureau cannot verify the inaccuracy within 30days, they have to delete it from your credit report per Fair credit reporting ACT. The Fair Credit Reporting Act ensures that accounts are reporting 100% accurately. This includes dates and Amounts exactly to the penny. There can be NO discrepancies and must reflect the accounts true status.
The most critical thing that you can do is to ensure the accuracy of each of your credit reports. After you are certain of their accuracy you can take other steps to improve your credit score. It is very important to read your credit report very carefully! Look for inaccurate, outdated, incomplete and negative information! Following is the list of common problems you may find in your credit report:
You can dispute inaccurate information with the credit reporting agency. If you tell a credit reporting agency that your file contains inaccurate information, they will investigate the items (usually within 30 days from the receipt of your dispute).
The credit reporting agency must give you a written report of the investigation and a copy of your report if the investigation results in any change. If the investigation does not resolve the dispute, you may add a brief statement to your file.
If you are legitimately uncertain about the truth of an item, then you can dispute it in good faith. The burden of proof is on the credit reporting agency to prove the accuracy with the creditor. Your dispute letter will generate an investigation, and if the creditor does not respond to this investigation, the entry in question must be deleted from your file.
credit bureaus have less patience dealing credit repair companies. They would rather deal directly with their clients. So when going the route on how to fix credit, dealing with the expensive credit counseling service actually has a negative effect and could back fire on you! They will pursue the accounts in a more aggressive manner than if you did it yourself.
If a credit reporting agency violates the Fair Credit Reporting Act, you may sue them in state or federal court. The dispute process is incredibly straightforward, and involves just a few steps:
Determine the items you want to dispute.
Send the dispute letter.
Keep accurate records, if needed.
Obtain the results of the dispute.
Here’s why doing it by yourself, like we did, vs. hiring a credit counseling service is a much cheaper and more effective plan.
These programs charges high up front fees
They ask you to pay comfortable monthly payments subscriptions and are clearly proven by the FTC to be ineffective scams (Google “FTC credit repair firms ” you will be scared to do death like I was)
credit bureaus have less patience dealing credit repair companies. They would rather deal directly with their clients. So when going the route on how to fix credit, dealing with the expensive credit repair companies actually has a negative effect and could back fire on you!.
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