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Bad Credit Entry No More - A Guide
Entries on your credit report that are bad can be very annoying since they can be like a disease. The reason it comes to behave like one is because your credit report is generated once every 3 months. Basically, if you had an error on your newly printed credit report, it will stay there for at the very least the next 3 months until the new report generates and that is if you took less than a few days to get the situation rectified. So, what if you were going through your credit report and spot a mistake. One mistake is bad enough for your credit score so if you have more than one, your credit will hurt!
However, before you go calling the credit bureaus, make sure to check through all of your personal information to see if any of that information needs to be corrected. If not, then proceed to find out how you should go about disputing the entry in question. It could have just been an oversight or an honest error. However, it could be something more serious such as someone using your social security number or even someone stealing your identity.
Calling the credit bureaus is quite a simple process. The going gets tough when you are asked to provide any paperwork to supplement your claim. See, what generally happens when you call the bureau is that an investigation will be filed and much like a police investigation, there needs to be evidence. Your evidence would be dependent on the nature of your claim. It could range from receipts, bank statements, bank letters etc.
After the investigations by the credit bureaus are completed and also, depending on how successful your claim is, your credit report will be fixed. The length of the actual investigations may vary depending on the nature of your claim, how complicated the issue is and how much paperwork is needed. Also, remember that your credit report is only generated once every 3 months so this means that if you missed the deadline, then it will have to wait for another 3 months before the report clears up.
So, as you may already be realizing, the process can be quite time consuming so I would suggest that if you do spot any errors of entries that you do not recognize on your credit report, be sure to tackle the situation as soon as you get the chance to; otherwise if you waste time doing so, it will take a longer time to clear up your credit report so its in your best interest to try to sort any problems as soon as possible or you'll only causing yourself problems.
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