There are ways in which to delete items from a credit report. Although the creditors will deny this fact, it is not only possible but much easier than expected. Smart consumers will point out how this process can be accomplished to firms denying the basic facts. Credit history is not that difficult to fix. There are cases where the customer service person doesn’t know all the facts. This should not become a roadblock however.
The idea that the 3 credit bureaus cannot fix a mistake is simply not true, since they can be corrected without too much difficulty. There are many examples of this on the books — especially where loans were defaulted on. The law states that repayment will expunge the record from the credit history of the borrower. The United States congress has passed this act to protect consumers. Since the goal of every customer is to have a good credit rating, fixing problems in the present will save much anguish down the road. The hardest thing for borrowers to do is take a stand. Most people simply don’t like confrontation. However, since the law is on their side, it can be done. Consumers should try to open up a dialogue with the representative from the credit bureau to see what can be done for their score.
There are a few methods for borrowers to use in order to amend their 3 digit score. Since late payments can typically influence the credit score the most, it is a wise move to correct any errors in the monthly report first. Creditors can fix this data easily once an agreement is reached. This process can be accomplished by using the electronic method. Files can be altered by creditors simply through the submission of a new version of the data to the credit bureau’s reporting division. Of course there is also the manual method as well, where a hard copy of the facts is sent to the credit bureau. A consumer can also start a reinvestigation in their file. In this case, creditors don’t have to do anything. The law is on the side of the borrower in most of these disputes, so failure to comply with a verification request means that the record has to be eliminated from the file.
Consumers no longer have to stand alone against creditors. With the new laws on the books, it is easy to delete incorrect items and increase the credit score.