How_To_Wipe_Out_Bad_Credit_And_Rebuild_Your_Credit_Report by hashournonos

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									Title:
How To Wipe Out Bad Credit And Rebuild Your Credit Report


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629


Summary:
Most people who have bad credit think there is nothing they can do about it. They mistakenly believe that
they have to live with their bad credit for a long time. You don't have to live with bad credit or pay hefty
fees to have your credit repaired. You can remove bad entries in your report and rebuild your credit profile.
You don't need to spend a fortune to accomplish this. Armed with the right information you will be on your
way to rebuilding your credit record.



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Article Body:
Most people who have bad credit think there is nothing they can do about it. They mistakenly believe that
they have to live with their bad credit for a long time.


You don't have to live with bad credit or pay hefty fees to have your credit repaired. You can remove bad
entries in your report and rebuild your credit profile. You don't need to spend a fortune to accomplish this.
Armed with the right information you will be on your way to rebuilding your credit record.


Credit bureaus are required to delete items that are not 100% accurate or cannot be verified within a
reasonable period of time. Also, outdated information must be deleted.


The first step in repairing your credit is to get a copy of your credit report. You need to know what the credit
bureaus are saying about you. By law, you can get a copy of your credit report, for a fee. However, if you
have been denied credit within the past 60 days, then you can get a credit report at no charge from the credit
bureau.


When you receive your report, examine it carefully. Damaging information may appear in your report
wihtout your knowledge. Make sure all information is current and accurate. Identify any incorrect or
inaccurate information that has been entered into your report. Pay close attention to all the accounts listed on
your report. Mistakes happen all the time. Make sure you do not overlook any errors.


You can have damaging information deleted from your credit report. You have the right to dispute incorrect
or misleading information on your report.


To do this, complete the dispute form that you received with your credit report and return it to the credit
bureau. Be sure to send your dispute letter certified mail, return receipt requested. This will provide you
with a paper trail and help you remember when to follow up.


If you dispute an item, it must be reinvestigated and deleted if in the event the item is found to be false or
unable to be verified. By law, if the credit bureau does not respond within the alloted time, then the disputed
item must be deleted from the report.


Another way to smash negative credit remarks on your credit report is to take advantage of the "100-word
consumer statement" which allows you to file a brief statement detailing your side of the story and submit
this to the credit bureau, for inclusion in your report.


Once your credit report is updated, you should request that the credit bureau send updated copy of your
report to any businesses that checked your credit within the past six months (or two years if it involves
employment).


Now that you've removed the negative entries, it's time to rebuild a good credit report.


One way to add positive information to your report is by taking out a small loan backed by funds in your
savings account. When you pay off the loan, your security deposit will be released to you.


You can also build credit by having someone with good credit cosign on a loan for you. This strategy can
speed up the process of rebuilding your credit.


Having a secured credit card can help you build or rebuild your credit. To obtain a secured card, you are
required to deposit money in a savings account to guarantee the charges. The deposit is frozen and left
untouched until it is obvious that you have defaulted. So make sure all your payments reach the company
before the due date. Always stay within your credit limit.


If you ever wanted to wipe out your bad credit and rebuild your credit report, now you can. A good credit
record can make your life easier and more enjoyable. Take action now.




credit disputes letters

								
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