Erase Bad Credit Legally - Can It Be Done?

By Simon Myring

A typical query usually asked about repairing your credit rating is a way to erase bad credit, is it indeed doable?

There are tons of adverts from corporations all over the net who claim they'll erase bad credit legally but don't be scammed. If the adverse things on your credit file are indeed correct and truthful, then there's no legal way to repair them and thus remove the bad credit. If there are errors or expired items on your file then YES, these CAN legally be removed.

Thus what will you really do? The primary step in credit repair is to obtain your credit history showing the present information that the various credit bureaus hold on you. Then sit down with a piece of paper and go through the credit report with a fine tooth comb, looking for errors and mistakes, taking notes where applicable.

Next, write a letter to the creditor if miscalculation exists, detailing the mistake in as a lot of depth as doable and providing evidence. You want to follow this up with a letter to the credit agency from whom you obtained your credit file. Again detail any errors in full and offer evidence. When sending documentation be sure to send COPIES of the necessary proof and not the original paperwork

The credit agency is obligated to complete an investigation of your grievance inside 30 days and report back with any findings. It can liaise with the creditor to ascertain the accuracy of your info and whether your proof verifies the claim. The creditor in question has to reply inside 14 days, once more with information supporting their claim.

If you are correct and there is a blunder, the creditor must report back to the credit bureau with amended information. If the creditor fails to reply or report any amendments inside fourteen days the disputed info will be erased from your credit file.

Using this simple method, you'll be able to get old or adverse issues removed from your report. If the reply from the creditor is that the information is correct however that you are feeling that it's still wrong another avenue is to feature a statement of dispute to your file. Make a written request to the credit bureau or agency who should oblige. It will appear as a written statement alongside any disputed item on your file. Whilst not erasing the unhealthy credit it will have a constructive impact on your credit report. - 31382

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