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How to Remove Negative Credit (Part I)

The following techniques will help correct your credit and should be done with all Credit Bureaus.

In this section you will learn the ways of removing negative items from your credit file. These methods are sometimes referred to as "Credit Repair". These are the exact same methods credit repair clinics and attorneys charge up to $3,500 to perform. Since they do not always do it correctly, consumers have been taken for millions of dollars over the past years. We will also show you all the jealously guarded secrets on how to outsmart creditors who are damaging your credit!

What the Credit Bureaus Don't Tell You

1. Each item on your credit report must be proven or it cannot remain in the report. If the credit bureau cannot verify the item when investigated, it must be removed from your file whether or not it's true.

2. Every negative entry on your report can be denied or challenged at any time. The bureau must reinvestigate and if that item cannot be verified within a "reasonable amount of time", it must be removed from the file.

3. Items when challenged can be mistakenly erased. Consumers say they often experience computer operator mistakes.

4. Many times the creditor does not re-verify in time or the credit bureau is busy and does not handle your dispute properly. It must then be deleted.

5. The older an item, the more difficult re-verification is. It is possible it cannot be verified because records may no longer exist after 1 or 2 years.

Steps to Repair Your Credit

1. Obtain your three credit reports.

2. Review the reports and locate the negative items.

3. Dispute the negative items with the credit bureaus.

4. Disputed items are removed or corrected. Items that were not re-verified are removed.

5. Negotiate with creditors and collection companies.

6. After negotiating and making payment, creditors delete the negative accounts or change them to a positive rating.

7. State the item you are disputing, but do not use dispute forms or file numbers provided by the bureau. This will cause fewer delays by the credit bureau asking for clarification.

8. Do not confirm the account if any information about the item is wrong.

9. Do not use letterhead (you don't want to raise any Red Flags).

10. Do not photocopy a fill in the blanks form letter (another Red Flag).

11. Send disputes during busy times of the year. For Example: The first to middle of November can cause a delay in verification because of Thanksgiving. Christmas rush for the creditor and the bureau can catch them before they can thoroughly investigate within a reasonable time.

Part II >>

Loan Info	Need to Know	Investments
About Loans	Avoiding Foreclosure	Diversify your Portfolio
Closing Costs	Credit Counseling Services	Get Back on Track
Equity Builder	Debt Consolidation	Invest to Win
Escrow	Reasons to Refi	Investment Properties
Locking Your Rate	Refinancing Tips	Mutual Fund Crash?
Mortgage - 10 Do's & Dont's	SFR Rental Properties	Mutual Fund Terms
Qualifying for Loans	Should I Refinance?	Top 401k Mistakes
What Length Mortgage?	Improve Your Credit	I Want to Retire Early
Stress-Free Refi	Improve Your Finances	The Taxman Cometh
8 must-ask Questions	Basics of Investing	The Real Estate Market
Discount Notes	Note FAQ	Should I Sell My Note?
Note Quote Request	Note Sale Checklist	Sell Your Note
Note Glossary	LO? Become a Partner!	Stop Foreclosure!
Foreclosure Law	Foreclosure Terms	Remodeling Loan
Construction Loans	Foreclosure FAQ's	Bridge Loan
Land Loan / Lot Loan	Construction Loans FAQ	Land Loans FAQ

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