Your Credit History Report
Your credit history report is one of the most important documents in your life when it comes time to get a mortgage or personal loan. It’s lucky then that you can have a lot of influence in improving it so you have access to cheap and plentiful finance when you need it.
But how do you improve your credit history report? There are several things you need to do.
First up, you should get your hands on a copy of your free annual credit history report which is available from each of the three main consumer reporting agencies - Equifax, Experian, and TransUnion. You can contact them individually (they each use different sources of information to collate your credit history so the three reports will probably be different) or you can get a combined report for free from www.annualcreditreport.com
That is just the beginning though.
Next you need to itemise the items on your credit report so that you have a list of items that are potentially ripe for improvement. You need to look for items on your credit report that are not 100% accurate or that might be misleading. List these items.
Next you need to write a concise and clear explanation under each item for why you think it is inaccurate or misleading. Go into detail, but remember to be clear so that the person who will read it can understand you.
You are also going to want to maximize your chances of a positive resolution by including evidence for your claims. That can be copies of receipts or credit card statement etc. Remember to only send copies and keep the originals safe.
Next just send off the letter with your copies of evidence to the consumer reporting company who was responsible for recording the innacuracies on yoru report - you may need to contact all three of them.
That’s pretty much it. The consumer reporting company will get back to you with the results of your challenge and a new version of your credit history report.
To expedite the process and increase your chances of a good outcome, you could also consider retaining the services of a professional credit repair agency who will look after the entire process for you.
