Don't let the bad credit history and the credit repair process overwhelm you, is what Evelyn Calabuch says, Principal Agent of American US Insurance, a Florida Insurance Agency based in Boca Raton offering multi insurance services to all Florida residents, and now helping clients throughout the nation with their credit repair process.
Repairing your credit is not as tricky as you have probably heard it said, but it takes time and diligence. Just use this guide and follow the steps to analyze your credit report, find the errors that could hurt your score, get tips on how to dispute those errors, and avoid scams. Even though we are not financial advisors, we have partnered with United Credit Education Services (UCES) to better serve the national community in the process of getting rid off those painful mistakes that may sometimes stay on your credit report, even after the due period.
Step 1. Get A Copy of Your Report
The first thing to do is request your free credit report from the big three bureaus. Here is the information for your convenience, or you can visit annualcreditreport.com. The three agencies are: TransUnion, Experian and Equifax, who offer the same address and telephone number to contact them regarding a free report:
Mailing address: Annual Credit Report Request Service, PO Box 105281 Atlanta, GA 30348-5281 Phone: 877-322-8228
Step 2. Check Your Reports for Errors
Once you receive the reports from each credit bureau, please review them carefully. The wording will be different for each agency so this will take some time. Search:
• Errors in personal information, including names (and their variations), Social Security numbers or addresses.
• Errors in the account listings, looking for information on late payments that are not correct, outdated balances, listings with repetition of the same account, or other credit errors.
• Negative items, including bankruptcies, lawsuits, liens, bill collection, or late payments that are incorrect or out of date.
• Inquiries from companies that you do not recognize. When a company reviews your credit report information is created. Investigations into the reporting of companies you do not know can sometimes indicate fraud.
Once you have checked all the information within the reports if you have any questions, you should contact the appropriate agency using the toll-free number listed above.
It is essential to note that if there are legitimate negative items in your reports, you cannot change them. What you can do is not to make the same mistakes again and wait for the penalty period. Late payments, collection accounts, charge-offs and other public record typically remain on your report for up to seven years. Chapter 7 bankruptcy stays on the report for up to ten years and outstanding tax charges for up to 15 years. The major credit bureaus will be able to eliminate Chapter 13 bankruptcy (where some of your debts are paid) in seven years from the date of filing.
The older the negative information gets, the less damage it does to your credit score. Current positive credit information such as timely payments, can improve your score even if negative items still linger on your report. In addition, taking advantage of the CreditMyRent feature included in the UCES membership, may also improve your credit score drastically since it will report your rent positively to your credit report.
Step 3. Disputing the Errors
This is the hard part; it is almost an art form because you must be very meticulous. All your complaints must be in writing (letter form). You can write to both the credit bureaus and the creditor who provided the negative information. You can also make a phone call before writing to the creditor to try to resolve the problem quickly.
If that does not work, the Federal Trade Commission (FTC) offers a sample letter for your convenience. Include copies (never originals) of documents that support your position with the letter—State only the facts in your message and why you are disputing the information. Send the letter by verified mail, with a "return receipt" so that you can verify that the credit bureau received it and keep copies of everything
The credit bureaus must act within 30 days of receiving your information and send all the information you have provided to the credit card company or other lenders that provided the information in dispute. After receiving the data, the lender must review, investigate, and report to the credit bureau. If you are right and the information in dispute is inaccurate, the lender must notify the credit bureau, which will allow them to correct the news on your report, solving the problem.
Once the review is complete, the agency is responsible for giving you the results in writing and a free copy of your report with the disputed items (items) extracted from the account if the information cannot be verified. You can also make a request that the credit bureau sends notices to anyone who has looked at your report in the last six months. And you can request a copy from any employer that has obtained your report in the previous two years. If the dispute is not resolved in your favor, you have the right to add a 100-word statement to your credit file explaining your side of the story. This, however, may not be helpful, as most creditors will not be able to see or read that statement. It may be best for you to hire an attorney who specializes in consumer law or to contact the Federal Trade Commission.
Step 4. Avoid Credit Repair Scams
When your credit score is low, tensions are high, and it is easy to become desperate to fix the situation quickly. That is when scammers appear with guarantees such as: 'We can erase bad credit's or' We can remove bad loans or liens on your credit. None of this is right.
It is essential and quite vital to have a reputable company such as the United Credit Education Services at your disposal. United Credit Education Services (UCES), is a credit repair company based out of Farmington Hills, Michigan. The company strives to raise customers' credit scores by removing negative and inaccurate items from their credit reports, in order to help customers enhance their overall financial well-being and establish a brighter financial future.
United Credit Education Services provides a four-step credit restoration program
- The first step asks clients to fill out an online enrollment form and activate their account.
- The second step includes a credit report evaluation which helps the company identify what is negatively harming the client's credit score.
- The third step involves the review, approval, verification, and mailing of dispute letters.
- The fourth and final step involves account updates and results.
Clients then will receive "revised dispute letters" every 60 days until their credit restoration service expires.
UCES Service and Savings in one single plan
UCES offer twelve services within the same plan and we must refer to the fact that is one of the most affordable ones in the market, in United States. Services include Credit Restoration, Identity Monitoring, Credit Monitoring, Credit Attorneys, Will & Trust, Debt Payoff, Net Worth, Budgeting, Savings Goals, Financial Lockbox, Credit Builder & YFL Family Mint.
Trying to resolve credit disputes is a long and hard work, but it can be done. Just take your time keep everything in writing, and do not fall for a quick fix, because this will lead to more significant problems in the future.
Do not let bad debts stop you
If you are battling with your debt payments and have fallen behind, it is vital to catch up before you start repairing your credit; otherwise, you will only be creating more work for yourself. Get busy fixing your debt problems first, then focus on building a better credit score.
If you have any questions regarding the UCES credit restoration services, do not hesitate to call us at 1-800-868-9170 or visit the UCES Protection Plan page
