Clean Credit Report-Security for You and Your Family

2007-03-08 10:33:40

( Financial )



Keeping a clean credit report is more essential than you could imagine. Almost all major purchases, financial flexibility and independence, even your career growth, will require you this piece of paper, which accounts your fiscal lifestyle. And for most of these sectors, only clean credit reports will do.

With this, many companies started offering, or promising, repair services for people who want a clean credit report. Still, there are ways to get rid of ghosts in your credit history without spending money for companies to do the job.

Review Your Report
It is important that you review your credit report. Ask for your one-time free credit report every year and examine it for errors and discrepancies. Have a photocopy of the credit report and mark the items which you think are incorrect.

Make a detailed letter of the wrong items in your credit report. If possible, include in the letter photocopies of supporting documents such as receipts and paid-marked statements. Send the marked credit report, the letter, and supporting documents to your creditor and the reporting agency. When changes are made, the agency should give you another copy of your credit report gratis.

More on Disputes
When your dispute is not granted, you can request for a second and a third investigation. If it still does not work, you can ask the reporting agency to include a brief statement on your argument in your credit report.

Consolidation
Beforehand, you can also inquire with your creditors about loan consolidation. This will keep your credit history short and clean as debt consolidation will give a single report of all your merged credits.

Refinancing
Speak with your credit company about refinancing. When your payments start to become unmanageable, you can meet with your credit agent and ask for deferred payment schemes for your dues. This way, you can pay up your debt a little at a time, and it will keep you with a clean credit report.

Marked Up
Even when you have paid all your debts, your credit report will bear negative entries you have had for some years. If you claimed of bankruptcy, this will reflect in your report for a decade. The only way out is to come clean and become a good payer. This way, you can request your creditor to delete your negative entries.


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