Building your reputation through your credit report is one way of achieving the great American dream. Employers make sure to offer lucrative jobs only to those who have worked hard on their credit history. Financial institutions extend credits with competitive terms and conditions to those who have high credit scores.
It is important that all three credit reporting agencies have accurate information about your credit history. I learned about this when I got denied a credit deal due to negative information that was reported erroneously by one of my creditors. Now, I am sharing the steps I took to clean up my credit report fast, so you won't have to go through the nightmare that a small error made by your creditor can bring about.
I was lucky enough that the financial institution that I was trying to get credit from advised me about my right to get free credit reports from all three credit reporting agencies every year. I requested for my credit report from the credit bureaus, so I could start to clean up my credit report fast.
I sent written disputes to those credit reporting agencies that reflected the negative information. I made sure that I will have the proof of them receiving it by sending my letter via registered mail. I figured this will help me convince them clean up my credit report fast should they fail to resolve the issue within 30 days. Fair Credit Reporting Act says that if the creditor fails to prove the veracity of their negative report within 30 days, I can ask the credit reporting agency to remove the information from my history.
I did extra research to be sure that I will be able to clean up my credit report fast. I found out that I can write to the Federal Trade Commission to help me should there be a problem with the credit reporting agencies. I jut have to provide documents that will show any wrongdoings by the credit bureaus. So, to prepare myself with this eventuality, I also contacted my creditor to inform them of my dispute. I kept a log of the people I have talked to, the time and the conversation that transpired. I also requested my creditor to send me a letter confirming that wrong information was sent to the credit bureaus.
I was able to get my credit history corrected after a couple of months. Some people may not be as lucky because it can take them almost a year just to remove negative information erroneously reported in their history. What I learned from these experiences is that I could have avoided frantically having to clean up my credit report fast to get my much needed loan. I made a promise to myself to religiously request for my free yearly credit reports for me to review them before errors like that become a problem.
Maintaining a good credit history is solely up to you. The credit reporting agencies have the responsibility of keeping accurate history of your credit information, but with the volume of data that goes through their office, it is inevitable that mistakes like that may happen.