Ways to Have Negative Information Removed From Your Credit Report

 

Being denied credit can start off an entire chapter in your life. You could have it as a chapter of getting your credit report fixed or live out the rest of your life as an outcast from creditors and lending companies. Your choices aren't much, leaving you with no other option but to build up your credit report right away.

 

Credit reports are lists containing information on your mortgages, current and previous loans, tax history, bill payments history, bankruptcies and all other information needed by credit and loan companies to grant or deny you credit. They even have information on your previous employers and Social Security Number. The information they have on you could be positive and depict you as a prospective client or would put a big red sign on your forehead saying - Keep Out. These 10 ways to have negative information removed from your credit report can help remove that sign.

 

1. Know your rights as a consumer.

 

The Federal Fair Credit Reporting Act provides several protections and privileges for you, the consumer, such as laws that make sure that credit bureaus conduct their business fairly, accurately and legally. This act was specifically passed to ensure that the information on your credit history would be accurate and complete.

 

One of your rights is to ask for your credit report.

 

Having a copy of your credit report would be the basis in having negative or incorrect information removed from your credit report work.

 

2. Know the game. 

 

Get to know terms like credit score and credit mix. Get to know the way credit companies work with credit bureaus. Get to know how your credit report was done. They have certain procedures and protocols that they should follow. If they did some slip-ups along the way those slips could be grounds to have your credit report re-evaluated.

 

3. Evaluate your credit report.

 

Check each item, verify the correctness and determine if they are actually required to be in your credit report. If you find information that is petty, trivial or erroneous write the credit bureaus about this matter. Remind them that it is your right to have an accurate and fair credit report.  

 

It is also your right to have your comments added to the report, if something is in dispute, or if there were extenuating circumstances that explain a negative entry.  For example, if the payment was lost in the mail, or if your house was flooded and you were unable to get to your records until the bill was late, etc.  Please don’t put “my dog ate the bill” on there, though, it won’t do you any good.

 

4. Challenge the credit report entries.