How to Repair Credit: Begin By Eliminating Discrepancies
Mortgages, credit cards, loans, and other financial accounts have drastically been affected as the economy continues to put a strain on individuals. While interest rates have steadily been decreased in an effort to turn this debt situation around, many people are left with the daunting concern of how to repair credit from the experienced aftermath of this chain of events. The accumulated stress can be exhausting if you have personally experienced lower credit scores caused by financial difficulties. Nothing is more frustrating than wanting to remain in good standing with creditors while struggling to push through a less than ideal financial scenario.
Learn where you currently stand in the eyes of creditors by requesting a free report from one or all of the major reporting agencies. Here are a few items to check for:
- Mistaken Identity – Has someone with a similar name showing on your report? It can happen and does frequently making it important to verify all data included as part of your history.
- Account Errors – Did a creditor state a payment as being delinquent that is clearly current? This type of discrepancy needs to be brought to the attention of the credit bureau for a thorough investigation. If it cannot be proven, they must remove it from your record.
- Identity Theft – Unknown Accounts or Inquiries are a sign of someone attempting to use your name for credit. They should be disputed immediately along with the filing of a criminal report.
A negative report will remain as part of the history for up to seven years and the most recent glitches are looked at thoroughly while older payment discrepancies often receive less attention. Making consistent timely payments even when past ones have been missed will improve your score. Take measures to reduce debt such as paying off high balance cards, resolving collection accounts, or completing loan payoffs. Do not open new accounts until steps have been taken to increase your overall score. Learning how to repair credit is not always an easy task and multiple resources are available online to help you through this long term process.
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.