If you have ever been turned down for a car loan, a credit card, a home mortgage, or even a job, you know how important your credit score is to functioning in this world. One of the best ways to improve your credit score is to remove credit reports that damage your score. In order to remove credit that damages your score, you need to request reports from the three major credit-reporting agencies (Experian, TransUnion, and Equifax).
You can request copies of these reports online; if you've been denied credit for any reason, you are allowed to obtain a free copy of the credit report from the agency used in making the decision. Once you have access to all of your reports, review the reports line by line. Once you've reviewed your report, you should request, in writing, that the agencies remove credit reports that are inaccurate or too old.
Inaccuracies on your credit report are common. Those people with the best credit ratings are often not the people who are more diligent about paying their bills on time but those who are most diligent about reviewing their credit reports on a regular basis and removing credit reporting information that is derogatory.
In order to remove credit scores from your report, you may have to deal directly with the financial company from whom you obtained credit. If you have a charge off or a judgment, you may have to satisfy the judgment (pay back what you owe) in order to have it removed. However, working with a good credit counselor/consumer advocate can be beneficial.
If there are inaccuracies on your report, you can write each of the agencies and provide proof of the inaccuracy. The reporting agencies have a given amount of time to research and respond. If they cannot resolve the issue and remove credit scores from your report, they are required by law to allow you to write a short statement explaining the score. In some instances, depending on how you've been affected, legal action may be warranted (particularly in the case of stolen identity issues).
You can often improve your credit score by 100-300 points simply by being more involved in the credit reporting process. Once you have repaired your credit, stay vigilant. It is very inexpensive (and often offered free by your credit card company) to monitor your credit rating. At the first sign of trouble, review a current report and ask the agency to remove credit scores that are inaccurate.
Learn how to remove credit from your credit reports by visiting my Lexington Law review website.
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