How To Clean Up Credit Report Errors
Want to know how to clean up credit report errors the right way? First, it's important to know that there is nothing the credit repair companies can do that you can't do yourself.
A credit repair company does not have the ability to remove current negative information from your credit report if the information is correct. If you filed bankruptcy, it stays on your credit report for 10 years. A negative item reported to the credit reporting agencies stays on your record for seven years.
But there is a good possibility that your credit report could have inaccurate information on it. That's because the credit reporting companies make a lot of errors. So if you want to clean up your credit report, how do you go about it?
The first thing you need to do is get a copy of your credit report because that is the only way to find mistakes and move to the next step to clean up credit report errors.
Once you have your credit report, make a copy of it and use the copy to circle any mistakes you see. Verify all of the information that is contained in the report carefully.
Make sure your full name, any previous names and your Social Security number are correct. These are the biggest mistakes made on credit reports and most often happen because hand written applications are hard to read.
Now look at your credit history and verify that your accounts and payments are correctly reported. Look for any incorrect account histories or late payments when you've paid on time. Also look for accounts that you know you have never opened or closed accounts incorrectly listed as open because this could affect your credit score.
Verify any marriages, divorces, employment history, bankruptcies, current and previous addresses, lawsuits, liens or any negative information about you that is more than seven years old. Bankruptcies stay on your credit report for 10 years.
Now if you find any mistakes or inaccurate information, here is how to correct the credit report mistakes. Search for any paperwork or statements you may have that support the inaccuracy. Make copies and keep the original in a secure place. Never send originals because that is your only proof if they get lost.
Write a letter to the creditor that reported the inaccurate information and attach a copy of the document that proves your inaccuracy. In the letter request that it send the corrected information to the credit bureaus it reported the inaccurate information to.
Once the creditor has verified the inaccurate information and contacted you back in writing, send a copy of that letter to the credit reporting agency and ask that the error be removed from your credit report because that is what is important. Once the error has been removed from your credit report your credit score should raise within 30 days.
Repeat this process for every error and remember you have the law on your side as long as the information on your report is not accurate. If the information is in fact false, the credit reporting company has 30 days to support the information it has on you or remove that item from your report.
If the information is in fact true unfortunately there is not a way to get negative information off your credit report as long as it is not outdated. However, there are many strategies to still increase your credit score even with negative items on your report.
So get a copy of your credit report and clean up credit report errors annually to make sure everything is correct and you have the highest credit score possible.
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