The very first step to remove bad credit items on your credit history, is to get a copy of all three of your credit reports. You can do this for free, by visiting annualcreditreport.com. You’re entitled to a copy of each of your credit reports, once every 12 months.
The unavoidable truth is your credit reports will often contain different information. One of the most common mistakes consumers make when removing bad credit, is to work from one credit report, and file a dispute with all three credit bureaus. If you dispute an item that isn’t on that specific credit bureaus, credit report for you, it’ll be very difficult to move forward.
How The Credit Dispute Process Works
Once you have all three of your credit reports, you’ll need to identify the questionable items you’d like to challenge and remove. Next, you need to file a credit report dispute, directly with the credit bureaus.
Once they receive your dispute request, they’ll first deem it valid or invalid. If your dispute is deemed valid, then the credit bureaus will conduct an investigation. When they investigate they’ll contact the original lender, or creditor and ask them to verify your account, and the associated information including the balance, and dates.
The Fair Credit Reporting Act (FCRA) is the law that entitles you to dispute any item on your credit report, you believe to be inaccurate. This same law also requires the credit bureaus to remove any item that can not be verified with the lender. This law also states the maximum amount of time an item can remain on your credit report.
Look, the reason many folks say it’s impossible or difficult to repair bad credit, is because the credit bureaus almost always find consumer disputes invalid. This means they won’t investigate the listing on your credit report.
The reason this happens is simply dollars and cents. You see, the credit bureaus must spend money when they conduct investigations, and the cold harsh truth is this money is otherwise profit for them. The credit bureaus annually earn billions of dollars in revenue.
Now, Congress originally passed the FCRA to protect you the consumer from the credit bureaus, and collection agencies that violate your rights. In spite of the credit bureaus being fined multiple times by the Federal Trade Commission, for not complying with the FCRA, and avoiding consumer disputes, our so called intelligent politicians decided to give the power to the credit bureaus to first deem a consumer dispute valid or invalid.
Naturally, they consistently find consumer disputes invalid so they can avoid the expense of investigating. They have a clear vested financial interest in side stepping federal regulations that require them to investigate consumer disputes.
The credit bureaus want consumers to just give up and live with bad credit. That’s why so many people say it’s impossible or hard to remove bad credit and errors from your credit reports. The wise consumers will turn to a professional credit repair company to work on their behalf.
Listen, removing bad credit on your credit reports is one of the most effective ways to improve your credit score. According to FICO the company that calculates roughly 90% of all credit reports says your payment history is about 35% of your overall credit score. If you work to get a clean credit report by removing the bad credit items, you’ll be improving your payment history.
In order to rebuild your credit, you’ll need to remove the negative, derogatory, bad credit items on your credit report. You’ll also need to replace that information with a trail of positive on time payments, this is how to build credit. It’s a two pronged approach for the most efficient road to good credit.
You can do this all yourself, however you’ll need to remain persistent, stay organized, and continuously work to get your disputes deemed valid. This way the credit bureaus will eventually investigate the item and if it’s incorrect it must be removed from your credit report.
The other option is to hire a legitimate credit repair company to perform this on your behalf. The best credit repair services will have expert credit lawyers on staff, that are familiar with the process, and keep up with our constantly evolving credit laws.
The plain truth is every piece of legislation has passed to protect you. All the laws are there for you the consumer to use. Please, don’t just live with poor credit, you don’t have too. The laws says there’s no minimum amount of time any item must remain on your credit reports, and we have members that have been able to remove vast amounts of listings legally, from their credit history.
Moreover your credit score is akin to your Grade Point Average (GPA) in glory school days past. It matters not if you’re acing all your classes, if you’re failing gym class, because that will destroy your GPA. This same principle applies to your credit score, it’s imperative to clear credit report negatives, because this is what’s damaging your credit score.
We encourage our members to consider professional, legal, and legitimate credit restoration services. Because in 2016 alone, over 9 million negative items were removed from consumer’s credit reports.
One of the best firms are the Credit Pros. They’ve helped client’s successfully remove late payments, collections, charge offs, judgements, liens, and many more negative credit report items.
Get a free credit consultation with a certified FICO professional by calling toll-free 1-877-418-7596. And for more tips, techniques, and strategies about how to fix my credit with Dan Willis, sign up for our free newsletter and join our congregation.
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