How to Clean Up My Credit Report? Your Ultimate Guide

Your credit history is more than just a record of your payment and spending habit. It is your reputation in the financial world. This is why most people go out of their way to dispute whatever inaccurate information they may find in their credit report. If you are one of them, and has been spending sleepless nights with the question, “How to clean up my credit report?” then, here is your ultimate guide to resolving your dispute as quickly as possible:

o It is usually not a question of how to clean up my credit report but who I should contact to clean it up. In most cases, people may need to contact the credit bureau that keeps the wrong data and the financial institution that furnished it. There are instances that your creditor will be able to resolve the issue even before your dispute reaches the credit reporting agency.

o Answering the question of “How to clean up my credit report?” relies on how aware you are about maintaining a good credit history. There are unavoidable circumstances that may cause you to be late for your payments or to max out your credit card. Should something like this happen, it is best for you to contact your creditor in advance to inform them of your inability to pay on time. Some financial institutions are forgiving enough to work with you in this regard, thus avoiding unnecessary negative reporting.

o Another answer to the question of “How to clean up my credit report?” relies on your basic knowledge about the credit scoring process. A negative report may take up to 7 years before it can be removed from your file and the bankruptcy may take up to 10 years. Having basic knowledge about the procedure will prevent any disputes in the future as it creates awareness on how you can maintain a sterling credit card history.

o Another question that may pop up is “How to clean up my credit report due to a fraudulent activity?” Once you find out that your identity was fraudulently used to obtain credit, do not stop on just resolving that issue. Make sure that all credit reporting agencies are aware of what happened right after you have filed for a report with the financial institution. There is nothing better than working on the problem right after it happened. Correcting any negative reports arising from identity theft may take months and even years to process. Do not wait until an important loan is denied before disputing the report with the credit bureaus. Otherwise, you may end up in a financial bind.

Your credit history is your reputation. Creditors look into your credit history to find out how financially responsible you are. Employers often equate a good financial history to good work ethics. It can help you achieve the financial freedom that you are aspiring for. Do not wait for the time when you have to ask yourself the question “How to clean up my credit report?” You should prevent it from happening instead. Save yourself the hassle of disputing your credit report by reviewing it on a yearly basis.

Source by Luciano O

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