Do you believe it's likely you could
clear bad credit on your fico reports by yourself? What amount of time do you think it will take to clear your bad credit and do you envision your ability to do it? If it only took a few minutes or hours of your time every month, would you want to know more?
Okay then, let's get started! Start by ordering a clear copy of your bad fico reports from the three large file bureaus; you'll be able to do this by regular post or on the internet. Once you receive your clear copy of the account files, review them for any mistakes; I suggest using a highlighter to mark the error spots.
After making a note of the problem areas, get back in touch with the bureaus and dispute the derogatory information you have found. It will take a little bit of time to do this, but shouldn’t be more than an hour or two.
In four to six weeks you will receive a clear new copy of your credit report with the corrections made, no errors found, or both. Again, contact them and dispute the same bad problems you had the first time.
Halt, if your
dispute has been corrected to your satisfaction on your new file copy; do not dispute that item again unless you want that one erased clear from your file. Concentrate on the bad items that were not changed or erased to your satisfaction, you can always re-dispute the other bad credit items at another time, if you wish to do so.
The reporting agencies are a business, and what they do is collect information about you to sell for clear profit. This business does not make money by correcting your bad credit report; however, they are monitored by the FTC and need to follow the fair credit reporting act guidelines.
The FCRA basically forces reporting agencies to investigate, repair or make right the history they are posting about you. It takes more time, money and effort to make adjustments to your file than it is worth to the agency, so my guess is they probably hate doing it.
This nuisance is your clear credit ticket to solving your discrepancy problems. The agency must clear your complaint within a reasonable amount of time, which is generally about 30 days; if they cannot they must repair or erase the derogatory situation.
We read about it in the papers and we see it on TV news that banks and finance companies are having a bad time; they are selling, merging or shutting down business.
With that in mind, it makes it very difficult for the bureaus to verify bad information from some creditors within a reasonable amount of time.
I believe this makes an awesome opportunity for you to get things removed or repaired on your bad credit during this clear banking hardship time.
I love it when the bank cannot verify on time and the credit bureau is forced to clear up or
repair your credit file item.
This is a very simple and easy thing to do; there is no recourse if you make a bad mistake in your disagreement with your credit.
