Credit Score
How to Improve Your Credit Score
You will be able to add, correct and delete incorrect information, when you have obtained a credit report. According to FACTA law is incomplete, delete expired negative accounts or the result of identity theft. If you have a hard time understanding your credit report. Instruction and guideline will be on your report on how to read it. If you still don’t understand it like many people does. You simple contact the agency from where you received it and they will able to assist you with any concern you may have.
Reading your Credit Report
First, you want to make sure that the identification section is complete and correct. You do this by checking that your name and middle and last name are accurate or not misspell apartment or condo number, zip code, social security number, zip code, etc also correct.
Second, check on your inquiries. Every time a creditor runs a credit report on you, a file inquiry is made. This information can stay in your credit history for one to two years. This is very important WHY? Your credit report which can raise many questions will cause creditors to refuse credit further. Assuming you are applying for a lot of credit, puts you at the highest credit risk.
Third, make sure that the accounts and credit history reported are complete and correct. Including your paying on time on your open credit account, balances and credit limit.
Fourth, check if there any report unreported that will benefit or add asset on your credit report.
Fifth, make sure that information on your credit report is current. As a state on the beginning, all information on your credit report can be removed. Negative items like late payment, charge offs, repossessions, liens, judgments, etc. can be removed after seven years. Bankruptcies can stay on for up to ten years.
Correcting your credit report
Write to the reporting agency what information you thing is inaccurate.
The letter that comes with your name and address in full.
Identify and explain each item you are disputing.
Each item asks for removal or correct information
After doing this the credit agency has 30 days after the receipt of your letter to contact the creditor and anyone involved in your request. After completing your request the reporting agency must send you the results in writing with a free copy of your credit report if you dispute been change according to your request. If the information on your report is change or deleted, the reporting agency cannot put back this information on your record unless the information verified is correct and complete.
If the provider involved failed to respond in the time established by law the information in question will be removed by reason of default from your credit report. If you dissatisfy with the information send back to you. Write another letter requesting to reinvestigate the matter. Follow up to make sure something happens. I good idea is to mark your calendar as a remainder about when to expect a response. As that been said hopefully this information will help you as a guide to act by first, obtaining a copy of your credit report that you entitled for free.
Check for any information that is inaccurate, writing to the reporting agency and wait for your result! Follow these simple steps so you can see an increase in your credit score.
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