Reasons to Repair Your Credit Report
A credit report is a record or statement of your personal, past financial information. You can obtain a copy of your credit record from three major credit bureaus, including Equifax, Experian and TransUnion for about $10 for each report.
Once you receive your credit report, you need to look at possible errors in your financial information. Unfortunately, credit bureaus do not edit information they gather from your creditors. Meaning, it is your job to repair erroneous credit report once you spot false information in your file.
It is important to repair credit report because you cannot acquire home mortgages, insurances, car loans and other financial aid when you have a bad credit report due to erroneous credit information. Because of this, you need to take action by ensuring that all information in your credit report is updated and accurate.
Surefire Ways to Repair Credit Report
If you have bad credit and you are desperate in eliminating debt, you need to understand that there is no quick fix available to achieve this. Instead, you should follow several legal ways to repair credit report.
If you know you have no bad credit and discovered errors on your credit report, you can simply edit your information by giving a dispute letter to credit bureaus, explaining the reasons for your dispute and providing with documentations.
Regardless of whether you really have bad credit or not, it is important that you know how to repair your credit report the legal way. The first thing you need to do is acquire a credit report and review it carefully. List all information that you consider negative or questionable.
Once you have gathered all erroneous or debatable information, identify each issue in your dispute letter or form, explaining the reasons for your dispute. Keep a copy of all documents before sending your letter or dispute form credit bureaus via certified mail.
Your dispute to repair credit report should be investigated within 30 days. Expect the bureau to send you an updated version of your credit report. Analyze if all the results are correct and check if all issues have been solved.
Don’t be contented with just one try for a credit report repair. Instead, check the new credit report again and identify the items that have been edited or changed. You should be aware that reinvestigating your dispute has no additional charge and it is your right to dispute your listing again if you are not satisfied.