Credit Repairing Is a Tough Job worth the Supplied Reward
An indescribable weight can be felt when you receive a denial for a much needed loan or service such as insurance. It is the first sign of trouble for countless individuals who forgo monitoring or reviewing their credit history regularly. The simple act of making a payment late by a few days can wreak havoc on a score. Evaluating your reported information yearly or semi-annually is the first line of defense for preventing this scenario; however, you are probably questioning the next step after an application has been denied. Knowing how to go about credit repairing and what needs to be done is confusing because the situation is different for every individual.
Start With Your Credit Report
Begin starting the repair process by requesting this data from the main reporting agencies. Every individual is entitled to one report at no charge each year. You can receive more than one report each year at an additional cost. Knowing what is listed and your overall score helps in determining the most appropriate course of action. Errors contribute to a lower score making it important to resolve any incorrect data before taking further credit repairing measures. Any discrepancy should be communicated with the reporting agency and associated credit bureau to ensure it is researched and possibly resolved.
What Is The Next Step?
Separate good and bad accounts to get a clearer picture of what needs to be resolved. List the accounts in an order ranging from the oldest to the latest acquired debts. Create a dispute letter regarding the first two negative reported accounts and send this letter to only the creditors conveying this information. This document informs the bureau that the supplied data is not agreed on and should include the account number, contact information, and your social security number along with the reason for the dispute. The bureau is required by law to investigate any dispute and to remove the information if it cannot be proven by the creditor. These removals will slightly improve the score and can be combined with additional steps to see further increases.
TURNSCOR is the industry leading Credit Repair Software platform.
No need to invest hundreds or thousands of dollars to pay a lawyer or third party to do what you can do for yourself. This was the sole reason we developed TURNSCOR. The major credit bureaus and creditors would like for you to remain uninformed, thus allowing them to charge you higher rates of interest based on your personal credit scores. This reason alone makes it very difficult to build wealth without a high credit score. Get started today.