When you are repairing your credit report it is important to create positive credit as well as remove negative credit. The simplest way to build positive credit is to pay all your monthly bills on time.
This will help you to create a positive payment history. A good payment history is almost as important as removing bad credit items from your report.
In addition you need to remove bad credit items from you report. You can do this by disputing inaccurate items.
There are estimates that 1 in 4 people have an inaccurate negative mark on their credit report that is costing them money on higher interest rates. It is your responsibility to know what is on your report and to remove inaccurate marks.
A divorce is often a source of inaccurate negative marks. A divorcee judge will often divide the debts between the two parties.
Often one party will not pay their court ordered debts. However these negative marks will be reported on both parties credit report
This will happen even if the other party is unaware of the delinquency until it is too late. This party is not responsible for the delinquency but yet their credit is still damaged. This mark is inaccurate and should be removed when disputed.
Another common source is lender mistakes. People are human and will make mistakes, however you will pay the price.
There are a variety of lender mistakes however a common one is a monthly amount due will change and the borrower will never be notified. The borrower will continue to make their on time monthly payments yet every month their credit is reported negatively.
This is a result of you not paying the full amount, even though you were never notified. The lender will report your account negatively month after month and your score will be damaged due to no fault of your own.
This is an inaccurate mark and should be removed when disputed. There are a number of reasons for your credit score to be damaged due to no fault of yours.
The Fair Credit Reporting Act was passed to help protect individuals that find themselves a victim of these circumstances. This law says credit bureaus must investigate disputed marks.
The hard part is to submit a "valid" dispute and have the bureaus actually conduct an investigation. Often bureaus respond to dispute letters requesting more information about the dispute.
I suggest you be patient or you can hire a professional credit repair service. What ever method you choose you do not have to live with bad credit and a low credit score.
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