HOW TO FIX YOUR CREDIT

Getting rid of bad credit is a process, one that can be accomplished with patience. The credit bureaus are responsible for inputting information on your credit report, information they receive from the hundreds of creditors out there.
The there are two important reasons you can get rid of bad credit
1. The dispute process- According to the Fair Credit Act you are allowed to dispute any information on your credit that you feel is misleading, inaccurate or unverifiable. Anytime a creditor inputs information into a credit report it is not verified. In other words, the credit bureau just takes the creditors word and slaps the info on your file.
The dispute process is what congress has created to help consumers make sure their reports are accurate and does not include any wrong information. Once you dispute an account entry with the credit bureaus they are supposed to investigate your dispute by contacting the creditor and looking at legal records showing that the account is indeed accurate. This is known as the verification process.
2. Length of time on credit report- Under the same law all accounts on your credit report have a lifespan or what I like to call an expiration date. Negative accounts are NOT to stay on your credit report forever. If there is an account that you stopped making payments on, it should be on your credit report for only seven years and six months after which time it needs to be deleted.
The problem is that these accounts are not deleted automatically, this is where you would need to take some sort of action to get the desired result of a restored credit rating. Also keep in mind that you need to also continue to make timely payments on credit accounts that you do have because the credit rating formula will take your most recent payments into account as well.
Visit do-it-yourself-credit repair or credit repair services to learn more on raising your credit score 200+ points to get approved for car, home and credit card loans.
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