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Getting clean and clear Credit Report

By Ruth Racey
Published: Thursday, June 12th, 2014

Credit Report is very important. It contains the information about you like your working, living, bill payments etc. In fact; it consists of the details whether you have been arrested ever, bankruptcy and issues like these related to you. This report shows the record of your past 10 years explaining all the sensitive or financial information related to you. Reviewing your credit report periodically is essential especially if you are planning tomake a bigger purchase like purchasing a home/property. Reviewing the report for omissions or inaccuracies is must. It keeps the credit clean which is also necessary. It boosts up credit granting procedure.

The credit report has been pulled from the credit bureaus in order to apply for financing or credit. According to FCRA or Fair Credit Reporting Act, if in any case your credit, employment or insurance has been denied then the company you are dealing with must provide you the complete contact and address details of agency with its name. There will be no charges for this report if you contact the agency within two months of receiving the denial notice. In fact; you will also get a free copy of your report for one year.

How to keep the Credit Reportclean

For this you have to tell the agency in written explaining what are the information you believe are accurate. Copies of all the required documents, full name and address are included. The facts should be described point-wise-point explaining why you are disputing the information. Make sure you keep the copies of this dispute letter.

If they consider your letter solemn then within the time period of 30 days they start reinvestigating all the items you have mentioned in your question list. Then the entire relevant data related to the dispute is forwarded to the information provider and it investigates the data reviewing this information. Then the deletion of the disputed information from your file takes place and finally you receive a clean credit report. Also, you get the list of all the removed items.

There is a myth about credit reports that it contains data about medical history, religious preferences, income, political preferences, personal lifestyles, friends, race, criminal record or any other such type of information. In fact; it includes the credit score which sometimes has been used by the lenders to make decisions related to the loans or assigning rates.

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