Basics of Credit Repair

Credit Repair

How Credit Repair Works

If you want to clear up your old derogatory items on your credit report via credit repair, the way to do it is to dispute the credit bureaus and a reason for them to start a investigation of your dispute.  The credit reporting agency then contacts the creditor who then has 30 days to provide proof that the derogatory item is valid.  If they provide the validity of the credit dispute, your derogatory credit item stays on your record.  If the creditor in question does not response to the credit bureaus within the 30 days, your disputed item must be deleted by the credit reporting agencies.  You need to do this to all three credit reporting agencies.

Credit Disputes with Credit Repair

After you have mailed your credit dispute to the three credit reporting agencies, Transunion, Equifax, and Experian, you will be getting a revised copy of your credit report from each of the three credit reporting agencies.  Your credit repair program is now in effect. You will probably see that you will have some deletions of negative credit items you have disputed.  You will see the list of your disputed derogatory credit items and next to it, it will state whether it Remains, is Deleted, or is Updated.  Your goal is to get them all deleted but it will take more than one try.  From the results that I have seen so far, most people get about 20% of the disputes removed the first time around.  On our next blog, I will show you a sample letter.  The first time around, you should use the excuse of NOT MINE as a reason for your dispute.

Check your credit report periodically and always dispute the negative items.  You can do everything a credit repair company can do.

The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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