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Mistakes on Your Credit
Report
Almost every item on
your credit report will have some mistake, even if only slight. Do not
acknowledge any any of the accuracies, but be sure to note all
inaccuracies. Write next to each item something like, "not mine, not
accurate, mistaken item, complete error," or whatever is most
appropriate. Request a copy of the corrected report within thirty
days. If they do not respond within 30 days, send another letter. In
this letter you will include a copy of your dated original letter and
a new letter firmly requesting they remove the disputed information.
Include a cc: to the Federal Trade Commission.
Do Not Call
the Credit Bureaus - Write Letters
The credit bureau may write a letter asking you to
call. Do not call under any circumstances. Your phone call will be
recorded and a log will be made of the conversation. Simply write back
with copies of your original letters, telling them of the original
date you submitted your request. Keep a file of all correspondence to
and from the credit bureau and follow through continually. Do not get
discouraged, as this will be worth your while.
What happens is that the credit bureaus forward
your dispute to the individual creditors. who have forty-five days to
respond. If they do not respond within the allotted time the item must
be removed. However, if they do respond at a later date with
information that documents the credit report is correct, the item will
be placed back on your credit report.
Bankruptcies
For those of you who have filed bankruptcy in the
past, the items that were discharged will normally show up as a
charge-off or uncollected debt. You will want to write to the credit
bureaus, providing a copy of your complete bankruptcy papers and
request that they show the debt as "discharged in bankruptcy." This
looks better and raises your FICO score. FICO sores above 680 make it
easier to obtain mortgage loans.
Conclusion
You may not be able to clean up every item on your
credit report using these methods, but you will certainly be able to
improve the way it looks to potential creditors.
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