Fixing A Credit Report - Quickly by cmlang

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									by: Steve Gillman

Fixing a credit report starts with seeing what's on it. You may get access for free online. Try a
search for "free credit report." Alternately, when you are denied credit based on a report issued
by a local credit reporting agency, you can request a free credit report from that agency within 30
days.

A quick look and you'll have an idea why you were denied credit. Now how do you fix what you
see? What if you find incorrect information on the report? What if you want to change
information that is accurate, but unfair?

First, if there is anything you want to dispute in the report, you can write a letter to the agency.
Tell them exactly what is incorrect, and they must investigate. Send copies of any
documentation, such as canceled checks, and send it all by certified mail.

The agency must contact the source of the disputed information. If they recieve no confirmation
within 14 days, they must delete the item from their files, and send you an updated report. You
can demand that they send the corrected report to all creditors that recieved your credit report in
the previous six months. This last part won't be done automatically, so be sure to demand it.

Honestly, if the item is under $500, or is more than a year old, usually creditors don't bother to
respond. This means fixing a credit report is possible even if it isn't incorrect. Also, if you don't
succeed on your first attempt, you have the right to dispute the item again after 30 days.

Put Explanations On Your Credit Report

When an item can't be removed, you have the right to add a 100-word explanation permanently
to your credit report. All who recieve the report will see your explanation. For example, if you
had a valid argument with your doctor over a charge, you can explain the details.

Fixing a credit report may take a long time if it is based on a history of late payments and loan
defaults. But even in this case, you can correct little errors, and explain anything that isn't fair.
This will make it look a little better while you start paying bills on time and doing the other
things necessary.

This article was posted on August 16, 2005

								
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