Erase Bad Credit Legally - Can It Be Done?

By Simon Myring

A common question usually asked regarding repairing your credit rating is the way to erase bad credit, is it indeed possible?

There are lots of adverts from firms all over the net who claim they'll remove bad credit legally but don't be scammed. If the adverse items on your credit file are indeed correct and truthful, then there is no legal way to repair them and so expunge the bad credit. If there are errors or expired items on your file then YES, these CAN legally be erased.

So what can you actually do? The primary step in credit repair is to obtain your credit history showing the present info that the numerous 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 a blunder exists, detailing the mistake in as much depth as possible and providing evidence. You must follow this up with a letter to the credit agency from whom you obtained your credit file. Once more detail any errors in full and give evidence. When sending documentation be sure to send COPIES of the necessary evidence and not the original paperwork

The credit agency is obligated to complete an investigation of your grievance within 30 days and report back with any findings. It will liaise with the creditor to determine the accuracy of your data and whether or not your evidence verifies the claim. The creditor in question has to reply within fourteen days, again with info supporting their claim.

If you are correct and there's a slip-up, the creditor should report back to the credit bureau with amended information. If the creditor fails to respond or report any amendments inside fourteen days the disputed data can be erased from your credit file.

Using this easy method, you'll be able to get old or adverse problems removed from your report. If the reply from the creditor is that the data is correct but that you are feeling that it is still wrong another avenue is to add a statement of dispute to your file. Create 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. While not erasing the bad credit it will have a constructive impact on your credit report. - 31382

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