Two Tips to Improve Credit
Two Tips to Improve Credit
The easiest tip to a good credit score is to pay your bills on time. Even if you have negative items on your credit it is still very important to pay your bills on time.
This will help build a positive payment history on your credit report. This is the second most important factor when calculating your credit score.
The more time that passes between today and the last time you paid late, had an account charged off, or any negative mark the better. So even with bad items on your credit report it is still of the utmost importance that you pay these months bills on time and continue too.
The next tip is to remove any inaccurate information. Unfortunately our credit reporting system has many flaws.
A common reason for inaccurate information to be reported is due to a divorce. A judge will divide the debts and if an ex-spouse defaults on a loan, that they were court ordered to pay, it will still be reported on both of your credit reports.
A lenders mistake is another source of inaccurate information. For example the amount due on a loan changes, however you are never notified and continue to make your regular monthly payments. Yet when you have your credit checked it will be littered with negative marks because you were not paying the full amount.
You can also have a negative mark due to stolen identity, or just a credit reporting error. These are very common, where someone somewhere makes a mistake but your credit pays the price.
These are all inaccurate marks on your credit report. You should dispute and remove all of these marks.
The Fair Credit Reporting Act was passed and is continually amended by congress to help protect your rights. These negative marks are beyond your control and the FCRA was passed for these circumstances.
To dispute a listing you must send a dispute letter to each credit bureau. In this letter you explain why the listing is inaccurate and then an investigation is conducted.
It is typical of credit bureaus to respond to a dispute letter by requesting more information. Thus many have found it useful to hire a credit repair firm.
For more tips on credit repair or for a free sample dispute letter to remove negative listings or to learn about lexington law a professional credit repair firm visit us.
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