Is Bad Credit Keeping YOU From Owning Your DREAM Home?

Hey there! If you’ve made some credit mistakes in the past, it’s possible that they’re still affecting your credit score. Having a high credit score comes with many benefits, but if your credit report has some negative marks on it, it could be holding you back from improving your score.

The good news is that you can clean up your credit report, but it won’t happen overnight. It can take anywhere from one to six months, depending on how many disputes you need to make.

The first step is to examine your credit report closely for any errors. You can get a free copy of your credit report once a year from AnnualCreditReport.com or continually monitor at https://www.creditkarma.com. If you find an error, you can dispute it with the credit bureau that’s reporting it. They’ll investigate your claim and correct or remove the error if they find one.

It’s also important to review your personal information on the report, like your name, address, and Social Security number. Make sure they’re correct, as an incorrect Social Security number could cause some serious problems.

When filing a dispute, make sure to document everything for your own records. Keep any supporting documents in a safe place and follow up on the dispute until it’s resolved. Take notes of dates, times, and the people you speak with at credit bureaus and lending businesses. Then, check your credit report about a month later to ensure that they followed through on their promise.

If you have a past-due item on your credit report, try to get the creditor to remove it by asking for a goodwill removal. You can write a goodwill letter asking for the removal of a paid-up debt that once had a late payment. Keep in mind that the creditor isn’t obligated to forgive past-due payments, but they may do so if you’ve been a good customer.

Repairing your credit report is a time-consuming process, but it’s worth the effort to clean it up. A higher credit score can make you more appealing to lenders and lead to more favorable rates and offers. So, take the time to clean up your credit report and start reaping the benefits!