Not sure why your credit has taken a hit? Unsure of what to do to improve your credit? It can be as simple as getting inaccurate negative items removed from your credit report.
No need to freak out; it’s common for your credit report to include errors like payments wrongly labeled as late or closed accounts that are still listed as open. Unfortunately, it’s also not unheard of for your report to include information from someone else, possibly someone with a similar name, Social Security number, or identifying information.
It’s best to be proactive and try everything you can to challenge these inaccurate items and have them removed to potentially improve your credit.
We’re the first to know how complicated credit can be, so we asked our finance editor to walk through three steps that can help you remove negative items from your report.
Here’s his advice:
1. Review Your Reports
Before you start challenging any items, you will want to request a copy of each of your three main credit reports and review them from top to bottom. You will want to familiarize yourself with everything on your reports to gain a stronger understanding of what needs to be removed.
Under the Fair Credit Reporting Act (FCRA), credit bureaus and lenders must ensure that the information they report is fair and accurate, which is why it’s so important to review everything listed and note which items are accurate and which items are not.
2. Dispute Inaccuracies
Once you have identified any errors on your credit reports, you should get ready to dispute inaccurate info with the credit reporting bureaus in question (Experian, Equifax, or Transunion).
In writing, explain what you think is wrong and why, and include copies of all the supporting documents that will assist in your dispute.
Your dispute letter should include:
- Your contact information
- An outline of each error listed on your report
- An explanation of each dispute
- A removal or correction request
- Copies of the credit report that contain the disputed items
If you have reviewed your credit reports, started to dispute a few items on your own, and realized you’ve bitten off more than you can chew, just know you aren’t alone. Luckily, we’ve done our research and have come across Lexington Law, a company with the #1 credit repair app.
Lexington Law’s sign-up is super easy, and its website is very user-friendly. If you work with them, you’ll have a law firm on your side to defend your right to accurate credit and to help you get any inaccuracies removed or corrected.
Yes, you read that right–Lexington Law will help address inaccurate items on your credit report. In fact, a Lexington Law representative will walk you through every step of their streamlined process, unlike other services.
Lexington Law has plans to fit nearly every budget, and each plan includes bureau challenges and creditor interventions. Their most popular plan, PremierPlus, comes with FICO® score tracking, identity protection, and personal finance tools.
When it comes down to it, Lexington Law can help you avoid making a costly mistake yourself and have better peace of mind in the end.
If you’re looking to take back control of your finances and start addressing harmful items on your credit reports, without the stress, then you’ll want Lexington Law’s help. It’s as simple as that!