The steps required to restoring your good
credit
- Obtain Copies of Your Credit Reports,
click
here - Review Your Credit Reports
For Inaccuracies
- List the
items to be corrected
- Request Correction
of inaccurate items (individually)
- Wait
for their Response
- Remind
them of their responsibility if necessary
- Repeat
this process until you are satisfied your credit report is accurate
- Negotiate
settlements on accurate collections & write offs - update bureaus
- Obtain
new credit and build your positive credit rating
- Monitor
your credit file to ensure no inaccurate information reappears
That's all, it is easy enough, but it
requires patience because the credit bureaus are not always cooperative. They make their money by providing credit reports to lenders, not by fixing bad information in their databases.
Under
the law, both the CRA and the organization that provided the information to the
CRA, such as a bank or credit card company, have responsibilities for correcting
inaccurate or incomplete information in your report. To protect all your rights
under the law, contact both the CRA and the information provider if you have a
dispute.
- First, tell the CRA in writing
what information you believe is inaccurate. Include copies (not originals)
of documents that support your position. In addition to providing your
complete name and address, your letter should clearly identify each item in
your report you dispute, state the facts and explain why you dispute the
information, and request deletion or correction. You may want to enclose a
copy of your report with the items in question circled. Your letter may look
something like the one below. Send your letter by certified mail, return
receipt requested, so you can document what the CRA received. Keep copies of
your dispute letter and enclosures
The
Credit Industry
The
Inaccuracies in Credit Reports
The
Fair Credit Reporting Act * FCRA
The
steps required to restoring your good credit
Getting
a copy of your credit report
Review
Your Credit Report for Inaccuracies
Correcting
Inaccuracies
Collection
Agencies and your credit file
How
to settle a debt and negotiate a settlement
Negotiating
your credit rating
Building
New Credit
Dealing
With Debt
Credit
Scores
Sample
Letters
Credit
Monitoring
Credit
Cards
Insurance
Online
Banking Rewards
Mortgages
Debt
Consolidation Loans for Home Owners
Refinancing
Your Mortgage
Additional
Resources
Credit
Fraud
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