Learn How to Clean Bad Credit With Confidence Here and Now!
Learn how to clean bad credit in five minutes!
Having bad credit can make it difficult and expensive to get an auto loan, mortgage, credit card or other credit. If you clean bad credit you will save money on these in interest and payments.
• Making late payments lowers your credit score. Payment history has the most affect on your credit score. It is imperative to make your payments on time in order to clean bad credit.
• The second most important to clean bad credit is to pay down your balances, start with paying off the most recent accounts first. The older accounts do not have as much effect on your credit report scores as the newer ones do.
• Do not apply for new credit. Especially if you have current or recent bad credit. This will drive your credit score down.
• Your creditors can change the report wording. Call or send letters to them asking them to do this. “Seriously Late” could be replaced with “Slow Payment” and so on. If you work with your creditors and stay in good terms with them they are more willing to work with you and help you clean bad credit.
If you follow the above steps and are persistent you can improve and clean bad credit report scores. It will take a little time but it will be well worth it in saving money on interest rates and payments in the near future. Also there are often errors on your credit report. Now let’s take a look at the actions needed to get these off of your credit report which also will clean bad credit.
• If you have any errors in your report make a copy of your report and highlight them. Send this along with a letter explaining the errors to the credit bureaus and to the creditor companies. Send these via certified or registered mail. They have forty five days to reply. If you have not received a reply in forty five days, send a letter referring to section 602,4b of the Fair Credit Reporting Act. By simply taking the time to send letters you can clean bad credit scores.
• Most people are afraid to send these letters because they think the creditors will have the records to back their claims. Actually only a few keep good records. Records are kept for only 13-18 months for most of the credit card companies. And with the many bank consolidations in recent years, a lot of these companies have failed to acquire records from acquisition companies. You can greatly clean bad credit by sending these letters.
• Section 611d states you are entitled a free corrected report from the credit bureau. If you do not receive one then send a letter.
You are allowed to put a one hundred word statement into your credit file. You can explain any problem areas and why they happened here. This is free and easy.
Take care of current credit, be proactive on late payments, pay down balances and dispute errors on your report and you will improve your credit scores. It will take time and perseverance, but you CAN clean bad credit.
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