How to Clean Up a Credit Report
Knowing how to clean up a credit report can be a pretty valuable piece of knowledge when you credit isn’t that good and you are looking to ge a loan or a mortgage.
Having a clean credit report will let you avoid embarrasment of being rejected for a loan and may even get you a lower rate of interest.
So how do you go about cleaning up your credit report? It’s actually pretty easy.
Firstly, you will need to get your free report from the three main consumer reporting agencies - Equifax, Experian, and TransUnion or you can visit www.AnnualCreditReport.com to get a combined report. These guys are obliged to give you a free report once per year if you ask for it.
Then check out what items on your credit report are either misleading or factually wrong. Be very stringent in your assessment as these items can all be disputed.
With each of those items, you will need to list why you think it is incorrect or misleading and if you can, also provide some evidence of your claims such as receipts or bank statements.
After that you need to send your list in a letter back to the consumer reporting company that listed the incorrect item on your report.
They will get back to you, usually within the month and you will be able to see where you report has improved or not.
To maximize your chances of success you might like to contact a professional credit repair outfit to manage the whole process for you. They probably aren’t as expensive as you would think and can usually get better outcomes as they are the pros!
They know a lot more about most of us about how to clean up a credit report, but in the end the process isn’t all that difficult and can lead to getting better terms on finance and loans.
