Tell Me - What On Earth Is A Bureau Credit Repair Report?
To get a bureau credit report, you can do so from one of three federally recognized credit bureaus: Equifax, Experian, or TransUnion. Each of these bureaus will allow you to get one free report- which means if you access all of them, you can get up to three free bureau credit reports per year. Be sure to take advantage of this fact, and keep an eye not only on your finances, but on your security. If you are working towards repairing your credit, these reports will become especially important.
Oh No- What’s This, A Mistake?
It is vitally important to get a jump on correcting any mistakes, inaccuracies or questionable transactions on your credit report. The longer you put it off, the longer it will take to get to get things straightened out. In the meantime, your credit rating suffers. And thats just the highlight. You can be hounded by bill collectors for services and products you never paid for.
If you locate an error, you will need to send a request to the bureau to challenge the information. Such requests need to be hand-written. The credit bureau has 30 days to get back to you regarding your challenge. During this time, they will be contacting your creditors to verify or disqualify your claims. If they can’t disprove your claim, they’ll change the error in your favor.
You also have the right to make written statements to be included into your bureau credit repair report. These can be added as a permanent part of your report in order for any future lender or whoever to read your side of the story. Say you got caught in Hurricane Katrina and were completely wiped out. Before that, you never missed a loan repayment in your life. This stuff is seriously taken into consideration.
What a Credit Bureau Report is Not
Your credit bureau report will not unfortunately wipe away all details from your bad credit days- such as bankruptcies, repossessions and late payments. Changing such information is not legal.
A bureau credit repair report also is not a new or secondary identity file about your credit history. That also is incredibly illegal ” right up there with fake I.D.s and forged passports.
A word of warning- if you have to make changes to your bureau credit repair report, make sure those changes are actually included in your report. The most effective way to do so is to order another report.
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