|The word to be when trying to restore credit is "vigilant,"
because this can be a daunting task, but repairing credit can be
accomplished by the average consumer. If a copy of the credit
report has been procured, then it is time to go to work, first
ensure that all personal information contain in the report is
accurate and up-to-date. A consumer can lose very valuable
credit points by the information contained on the credit
application and what is contained on the credit file not
matching. Most consumer reporting agencies will have a form that
allows to update the information contained in the personal
section of the credit report, if this form is not present,
create one with the incorrect information above the correct
information and instructions on what is suppose to be contained
in the report.
The next phase will be to correct or delete accounts that are
not yours, or contain outdated entries that should have been
removed from the file based on the laws contained in the Fair
Credit Reporting Act. The types of entries that can be deleted
are most revolving and fixed accounts that have been closed due
to non-payment with a date of activity of seven years ago, and
bankruptcies after ten years, and the majority of court related
rulings can also be removed after seven years. Disputed accounts
have to be investigated, and it is the responsibility of the
credit grantor to proved that the account belongs to the person
Using the disputing process of the law is a way to ensure that
the consumer reporting agency is reporting correct and
up-to-date information on the consumer, but also under this same
law it is illegal to dispute information that is accurate and
correct. The good news is that accounts that have been paid off
and are in good standing can stay on your credit report
indefinitely, and this can work to your to your benefit because
it allows the reporting agency to report only good credit once
the credit file has been restored and maintained. If you need
professional help to restore your credit rating visit Millennium
Credit Service at their website
About the author:
Millennium Credit Service provides credit repair services that
are legal and helps clients establish, build, and restore their
credit by using federal laws that protect the consumer and
services for clients with past credit problems.
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