Tuesday, July 28, 2009

Credit Report And Correction Techniques

Credit Report And Correction Techniques
by: Virginia Broobin

The three major credit bureaus, Experian, Equifax and Trans Union are
similar and feature a "Credit Score", which is created from credit report
data submitted to them about you. Their report includes where you live,
your bill-paying habits, and bankruptcy and arrest information. The
information compiled by them is used to determine whether you would be a
good borrower. It may also be used by a business to decide whether you
would be a good employee.

Credit report repair involves techniques for removing negative credit
records from your credit report. These are the exact same methods credit
score repair clinics and attorneys may charge up to $3,500 to perform. It
is also possible to outsmart creditors who are damaging your credit score.

1. Many times the creditor does not re-verify in time or the credit
bureau is busy and does not handle your dispute properly. This credit
record must then be deleted from your credit report.

2. Every negative credit record on your credit report can be negated by
you at any time. The credit bureau must reinvestigate and if that item
cannot be verified within a reasonable amount of time, that credit record
must be removed from the credit file (credit report).

3. Challenged credit record when challenged can be erased by mistake.

4. The credit bureau must prove each credit record on your credit report.
If this is not possible, it must be stricken from the credit report. So,
if the credit bureau cannot verify the credit record when investigated,
it must be removed from your credit file (credit report) even if it is
true.

5. It is possible that a very old credit records cannot be verified
because records may no longer exist after 1 or 2 years on credit report.

Your credit score is important for obtaining credit. Your credit score is
important to know, whether you need a new credit card, an auto loan, or a
mortgage. Lenders use your credit scores to decide whether you are a good
credit risk. If you have a high credit score, you are more likely to
obtain the best rates.

To obtain the excellent credit report service, correct your credit, get
FREE online Credit Report, make your Credit Score higher or avoid
becoming a Victim of Identity Theft visit Legalhelper.ws (
http://www.legalhelper.ws ).




About The Author

Virginia Broobin- Financial marketing specialist.
contact@legalhelper.ws

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