Removing Negative Items From Your Credit Score

The power of positive thinking is real and can be demonstrated in the form of a credit score. If you know how to remove negative entries from your report, then it’s beneficial because after seven years pass they will no longer affect your life as much when applying for loans or mortgages.

If you find yourself dealing with late payments, collections, charge-offs or foreclosures on your credit report then the following list of tips can help get things back in order.

Credit Repair of Chicago is the perfect company to help you deal with credit problems. They are experts at getting your scores back up and making it easier for you to buy a house or car on time, as well as get loans from banks more easily without high interest rates.

Check Credit Report for Inaccuracies

The errors on your credit report could be a big deal. It’s important to find them and get rid of any inaccuracies as soon as possible.

Getting your credit report is an important first step to ensure that all of the information on it matches up with what’s in reality. To do this, you’ll need a copy from each of the major three bureaus – Equifax, Experian and TransUnion.

Things to check

  • Account number.
  • Account status.
  • Balance.
  • Date opened.
  • Payment status.
  • High Balance.
  • Credit Limit.
  • Other errors.

Credit Repair of Chicago has helped thousands of consumers in the valley by finding errors on their reports such as erroneous collections or unpaid taxes which may have lowered your score significantly since it was applied retroactively.

Submit Credit Dispute Letters

You’re fed up with inaccurate information, and you feel like your only option is to write a letter detailing all the inaccuracies. You send this dispute letter requesting that they fix or remove their mistakes as soon as possible.

FCRA is a significant piece of legislation for consumers because it regulates credit bureaus and restricts what information can be reported to them. Credit reports cannot contain inaccurate or unverifiable data, meaning certain entries must be removed from the report before being shared with lenders.

Write Goodwill Letters

One excellent way to make your credit score go up is by requesting a goodwill adjustment from the three major bureaus. This will show creditors that you’re responsible and committed, which can help with getting loans for certain purchases such as cars or homes.

If you’re looking to improve your credit score, it’s important that negative entries on your report are removed as quickly and accurately as possible. Let the original creditor or collection agency know immediately so they can remove them from their records.

A goodwill letter is a simple way to make people feel appreciated, but it can be hard when you do not have the right tools. Experts are always ready to help with these tasks and will take care of things for an affordable price.

Describe your situation to the creditor, such as mortgage application, and struggle because of the entry. 

Negotiate a “Pay For Delete” Deals

For those who are looking to get a negative account off of their credit report, there is an option called pay-for-delete. This agreement will work for unpaid collection accounts or charge-offs and can be negotiated over the phone with creditors that agree to it. If you offer up payment in exchange for removing this negative item from your credit profile, then both parties need to make good on their promise as soon as possible so that they don’t have any more problems afterward.

Debt collectors are your friends, but they only work as a team if you have the contract in hand. Make sure you negotiate on the phone and make it clear that no payment will be made without seeing written documentation.

Use Credit Repair of Experts to Help Remove Negative Items

Credit Repair of Chicago is a company that specializes in credit restoration. They will deal with disputes, goodwill letters and negotiations on your behalf to eliminate the stress from these dealings.

Credit experts know the Fair Credit Reporting Act to their fingertips, and you are in excellent hands.

When credit repair has to be done, the best thing you can do is let a professional handle it. Credit Repair of Chicago knows how to deal with deletion methods and will remove inaccurate information faster than if you tried on your own.

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