GET A MORTGAGE WITH NOT SO PERFECT CREDIT
is wrong. They have to contact the creditor who reported it and that company has thirty days to respond. If they do not respond, then you have a right to have that item removed from your credit report. The key here is that you follow up with the credit bureau and remind them that they need to remove this item. Keep writing to the credit bureau until you get it in writing from them that the item has been removed from your credit report. Keep that letter in your records.
Many times you will be told that an item was removed only to find it on your credit report again in the future. This happens because although the credit bureau removed the item, the company reporting it may have sent in an update to the bureau containing the same wrong item. The credit bureau can't control that. In order to protect yourself, have that letter from the credit bureau available for prospective lenders.
If the same item is appearing on more than one bureau (and most do), you will have to complete this process for each item and each bureau. Remember there are three bureaus and you will have to go through this process for each item you are disputing with each bureau. Bureau's don't share information.
CREDIT REPAIR COMPANIES Clearing your credit takes time and patience. However, there is nothing that you cannot do yourself that these "credit repair" businesses claim that they can do. These "credit repair" businesses can be quite expensive and you are basically paying for them to write letters to the credit bureau on your behalf.
It is not possible to clear items off of your credit report that are accurate, regardless of what some of these businesses tell you. There are limitations on how long derogatory information can be reported on your credit report. Most of the time, the credit repair business is simply disputing an outdated derogatory item to the credit bureau in order to clear your credit file. Why pay for a service to write a few letters that you could write yourself?
FAIR CREDIT REPORTING ACT You have many rights regarding your credit. You need to become comfortable with the concept of checking your credit at least once a year in order to check for errors and then get them corrected. There are specific procedures for getting things corrected on your credit history. There is no charge
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