How To Remove Unfair Negative Items from Your Credit Report
This post is sponsored by CreditRepair.com.
Credit scores and reports are confusing. What do all of the numbers mean? How do they affect you? What can you do about it?
When was the last time you looked at your credit report or check in on your credit score? About 47 percent of adults don’t know what their credit score is. Sixty percent of those are young adults between the ages of 18 and 34 — that means us.
Every single person has a unique combination of accounts, account types, and length of credit history, among other things, that make up our credit history. This information ends up on our credit reports. It seems straightforward, yet 79 percent of credit reports contain errors.
These errors can have a dramatic impact on your credit score, which indicates your trustworthiness, when borrowing from lenders in the future. It can mean a difference of multiple percentage points of interest on your home or car loan translating to a higher monthly payment, a longer loan term, and thousands of dollars in interest paid over time. That’s insane.
What that means is that the details matter. By law, the information creditors report about you to credit bureaus must be fair, accurate, relevant, substantiated, and verifiable. Unfortunately, it’s often not. If you aren’t aware of the laws that work on your behalf and the mistakes that are on your credit report, it could cost you tens of thousands of dollars that you don’t need to pay.
So, what can you do about it?
While any time is the good time to check in on your credit report (the sooner, the better actually), if you’re planning on making a major purchase in the next few years, it is the perfect time to have your credit report analyzed.
CreditRepair.com works to remove unfair or inaccurate negative items from your credit report. Through a direct relationship with the credit bureaus, they work to advocate on your behalf. Their goal is to remove the questionable and negative items that are on your credit report. On average, past members have seen seven percent of these items on their credit report removed per month.
How To Remove Unfair Negative Items from Your Credit Report:
Find out where you currently stand:
First, visit CreditRepair.com or call to begin the signup process. Even if you aren’t able to right away, it’s eventually best if you end up on the phone because each person’s situation is so unique that your plan of action will be more customized from the very start.
CreditRepair.com works through a three-step process. First they check your reports. Then they challenge inaccurate items. Finally, they follow up to make sure your credit score reflects the changes. I’ll walk you through the process below.
On day one, you’ll pay $14.99 for CreditRepair.com to pull your TransUnion credit report and score. Even if you don’t opt to move forward with their services, they will still send you the information from TransUnion which will in the very least show you your credit score and give you an idea of where you stand credit-wise.
Identify your unfair negative items and your game plan:
It’s CreditRepair.com’s mission to advocate for Americans. Their mission is to help you have the most accurate representation of your credit possible.
Their services are $99.95 per month, and as a company that is working on behalf of your finances, they know that improving your credit may come along with financial hardship. Because of that, they wait five days to charge you the first monthly fee.
You also have the option to change your payment date to make it easier on you. The service can be customizable to your budget as well; you can have the work on only one report at a time, paying less per month. Additionally, the service operates month to month meaning you can put your service on hold for as long as you need to if something comes up.
You’ll go through the legal disclosures, choose paper or email notices, and the service agreements during your initial call. They will begin to set up your account. Everything will be available for you to log in and see almost immediately. Your credit report and score is also available for you to see.
Your dashboard gives you the option to see your status from both the creditor and the credit bureau point of view.
These differences aren’t well known to the average person. CreditRepair.com’s view gives you better insight on how you stand between the three bureaus–TransUnion, Equifax, and Experian. They show you the difference between what you see on your credit report and what creditors see.
This information alone can help you identify which inaccurate negative items are misrepresenting your trustworthiness.
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Let the experts execute the action plan…
Now, because everyone’s situation varies, it’s key to work alongside CreditRepair.com to focus on your specific goals you have with your credit. One person may have more negative items than others. Someone else may have a goal of a specific score number or range before applying for a home loan to reduce their interest rate.
They will then devise a specific action plan that is tailored completely to your goals, personal situation, and items you want to challenge that appear on your credit report. Make sure to download their app so you’ll receive updates and notifications instantly on the progress that is being made towards your goals.
When creating your action plan, they will first begin by checking to make sure everything is accurate. They will look for double reportings, hard inquiries, and negative items that are an incorrect representation of your credit history.
Then, they begin to work with to challenge the incorrect reportings by contacting the creditors on your behalf for removal. You might think that this is something you could do yourself, and you’re likely right that you could attempt it. But it would be incredibly time consuming to see results and have the credit bureaus respond and update their records in a timely manner. It requires diligence, time, and expertise to make it happen. Luckily, CreditRepair.com has a strong relationship with the credit bureaus and intimate knowledge of the industry and rules to protect your best interests.
… because as the general public, we don’t know it all.
There is a significant amount of knowledge that revolves around credit reporting that the general public simply does not know.
For example, many people think it is common knowledge that negative items must remain on your credit report for seven years. What most don’t know is that no such law exists. Creditors can remove items at any time they wish, seven years is simply the maximum time that these items can remain on your report.
It’s beneficial to the creditors to leave negative items on your report simply because they can then charge you higher interest rates and make more money. The average person isn’t aware of these nuances and therefore isn’t aware how to advocate on their own behalf. That’s where CreditRepair.com comes in.
Previous members have seen an average increase of 40 points in four months in their TransUnion credit score. CreditRepair.com removed 11.5 million negative items from credit reports last year. That’s an average of 11.6 removals in four months across all three reports per member. While these numbers are just averages and not guarantees because each credit history is unique, it’s an incredible feat.
On top of that, they are working to actively monitor your credit report daily. This keeps you aware and updated on changes that appear on your credit report as they happen.
Ultimately better credit means a better life. Taking the time to remove negative items and inaccuracies from your credit history is an investment in your future. It will take time, but it is always worth the effort. Repairing your credit history and polishing your credit report with CreditRepair.com the best way to start the life you’ve always dreamed of.
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