Credit Repair Law Firm
When we are young, we learn many lessons. But one thing we are rarely taught is the importance of having good credit. Young people do not realize the significance of having good credit and the difficulty of repairing bad credit. Not all bad credit is our fault though. Sometimes there are errors in reporting. So it is important to know what your credit report says. If you do come across an error, it is extremely important to dispute bad credit marks against you.
The first step is to get an accurate credit report. You are entitled to one free copy a year from each of the three major credit companies. Go over this report closely. You will be able to see both positive and negative marks to your credit score. If you find a mistake, then you need to immediately start taking the steps to repair it. This could take some time.
You can do the work to repair your credit yourself but it can be time consuming and it does take some expertise. You may want to consider hiring a reputable credit repair company or law firm to assist you. They cannot guarantee success but many of them do have a great track record for removing discrepancies and irregularities.
Whether you are doing it yourself or using a professional, if you need to dispute bad credit marks on your report, you need to begin gathering the documentation to help support your claim. Of course, keep any originals and send only copies. But anything from an incorrect address to misspelled name to the wrong amount owed can be disputed. Also, keep records of your disputes and the dates they were sent in.
After thirty days, contact the agency to find out about your dispute. This is the minimum amount of time the company needs to resolve the dispute. Sometimes, it may take even longer. If you do not hear a response from the creditor or agency within thirty days, the error will be removed from your report. This is true even if you are just disputing an address. If there is no response, then contact the three credit reporting agencies and tell them to begin the process of removing the bad credit.
After you take the steps to dispute bad credit marks, you will need another copy of your credit report. You will need this to make sure that the offending mark is actually removed. If it is still on there, you can once again dispute bad credit marks. But you will have to dispute them on another term. If you first disputed a wrong address, but they verified this information, you will need to find another way to dispute, unless you have more in depth proof that the company is wrong.
When you have to dispute bad credit, write a letter explaining the problem and send long with the proper documentation. Once this problem is cleared up, you can request that a letter be sent to those who have investigated your credit in the last six months. You can also call your creditor to dispute the problem. You may find that you actually do owe the money and you can work out an arrangement with the creditor to pay off the debt. Because they don’t often get any money that is usually owed to them, they are usually happy to settle. Be sure to get any agreement in writing.
Once an agreement is reached, you can ask them to report to the agencies to remove your information from the report or once it is paid off, to place your credit in good standing. After this step, request another copy of the credit report and make sure it has been removed. If it hasn’t, contact the company you are paying once again and make sure they pursue this.
You can remove charge offs from your credit report by utilizing some simple credit repair strategies.
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