Credit repair remove negative items

Most people know that most creditors use credit report agencies for obtaining information on a person when they have applied for any type of financing. However, there are actually two levels of credit reporting agencies. There are three major repositories of credit and background information. They are Equifax, Experian and TransUnion. When someone obtains credit, the creditor reports the payment history to these repositories. This is usually done monthly but may be done on an irregular basis. These repositories simply accept the information as it comes in electronically and they DO NOT check the accuracy of the information.

This is where the problem starts to often the information received is never check of accuracy. This leads to wrong or misreported information affecting your credit score. Examples may be collections that have been paid off but never updated or wrong social security numbers added to your reports. Now with that being said the question is how do you repair the damage that has been done?

The first thing you need to do is get a FREE copy of your credit. You can get them once a year for the CRA’s
(Credit reporting agencies), or anytime you have been denied credit. Then you need to go over every line of your reports and look for the errors (and there will be errors). Once you have identified the problem you need to tackle it head on and dispute the item. The only way you do the effectively is to writhe a letter and dispute the error. You must do this in writing and never over the internet. If you try to dispute the information on the internet most of the time nothing will happen. The main thing that they will not tell you is that it is there responsibility to have accurate information and they need to investigate it and prove this information is accurate if they cannot do this in a timely manner (30 days) they must remove it from your credit report.

Simply put, they keep a record of who has given you credit, when they gave you credit, how much credit you are given and whether or not you paid it back on time. When you want to obtain credit cards, loans, financing for a car or home, leases, apartments and sometimes even employment, the lender or bank will check your credit to see your financial history.Credit Bureaus are paid by the people who request your credit file.Credit Bureaus have no legal power over you. Banks, police or the government does not run them; so don't be intimidated by them. They are the Credit Bureaus because they own large computer systems capable of storing credit information on everyone in the United States. However, because of the tremendous amounts of information on their computers, their method of storing information is very basic and ridden with many errors. Since the bureaus have made so many errors in the past, all Federal Laws regarding credit information are very much in your favor.The Major Credit BureausEXPERIANP.O. Box 2002Allen, TX 75013(888) 397-3742experian.com
Trans Union CorporationP.O. Box 1000Chester, PA 19022(800) 888-4213transunion.com
Equifax, Inc.P.O. Box 740241Atlanta, GA 30374(800) 685-1111