Credit Score Secrets: How to Boost your Credit Score Fast and Legally, Understanding and Building a Good Credit Profile. How to Use Cards by Luke Allen

Author:Luke Allen [Allen, Luke]
Language: eng
Format: epub
Published: 2020-05-17T00:00:00+00:00

Chapter 8.

How Long Does Negative Information Stay on My Credit Report?

If there is damaging information in the report, you have the right to dispute that information. They must reinvestigate the items in question within a "reasonable period of time". If a disputed item cannot be verified, they must remove it from your file.

Never Use The Online Dispute System: This leaves you without the paper trail you will need if the credit bureau doesn’t follow the law.

Be sure to use certified mail whenever you are sending a letter to the credit bureau - to ensure that they receive it and that you have proof of receipt.

Do not dispute more than 22 items at a time. It is extremely important to follow proven procedure. Credit bureaus are looking for any excuse not to investigate your dispute.

Hard Inquiry: Two Years

Too many hard inquiries on the report may lead to a low credit score. A hard inquiry will only be on the report for two years following the inquiry date.

Delinquency: Seven Years

Make your payments on time, or you can catch up. If you usually repay your debt, call your creditors and ask that the delinquency should not be reported to a credit company.

Charge-Off: Seven Years

Make sure to pay all the debt or the negotiated amount

Student Loan Default: Seven Years

Take advantage of the Department of Education options loans such as repayment, consolidation, and rehabilitation when on federal student loans. When on private loans, get across to your lender and ask for modification.

Foreclosure: Seven Years

Make it a commitment to pay all your bills on time and rebuild the credit.

Judgment or Lawsuit: Seven Years

Make sure that your credit report public records do not have information about civil judgments, and if it does ask for the removal.

Bankruptcies: Seven Years

Collect secured credit card from your lender and clear your bankruptcy accounts and apply for another credit once you have cleared the debt.

Tax Lien: Indefinitely before, now Zero years

Make sure your credit report does not have information about tax liens. If you discovered that your credit report has tax liens, request for it to be removed by your agency.

Just note that the negative information will be removed once the credit reporting time has been reached. If they are not removed, you have the chance to dispute it with the credit company involved.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.