Boost Credit Rating

When you are repairing your credit report it is important to create positive credit as well as remove negative credit. The simplest way to build positive credit is to pay all your monthly bills on time.

This will create a positive payment history. A positive payment history is almost as important as removing negative marks from your credit report.

You are going to need to remove negative listings from your credit report too. This is accomplished by disputing inaccurate negative listings.

There are estimates that 1 in 4 people have an inaccurate negative mark on their credit report that is costing them money on higher interest rates. It is your responsibility to know what is on your report and to remove inaccurate marks.

A divorce is a common source of inaccurate marks on an individual’s credit report. When a divorcee is occurring the judge will divide the debts between the two parties.

Often one party will not pay their court ordered debts. However these negative marks will be reported on both parties credit report

This will happen even if the other party is unaware of the delinquency until it is too late. This party is not responsible for the delinquency but yet their credit is still damaged. This mark is inaccurate and should be removed when disputed.

In addition lender mistakes are often a result of inaccurate negative listings. Lenders make mistakes too, however you are the one that will pay the price for their mistakes.

It is common for monthly payment amounts to change on debts. However it is also common for the borrowers to not be properly notified. Thus if you continue to make your regular monthly payment your credit will still be reported negatively.

This is because they are not paying the new amount due. They were never notified and continued to make regular on time payments, so it is not their fault but they will pay for the lender’s mistake.

This is an inaccurate mark and should be removed when disputed. There are a number of reasons for your credit score to be damaged due to no fault of yours.

However the Fair Credit Reporting Act that was passed by congress is in place to protect you from these circumstances. This law forces the credit bureaus to investigate a disputed listing.

The hard part is to submit a “valid” dispute and have the bureaus actually conduct an investigation. Often bureaus respond to dispute letters requesting more information about the dispute.

I suggest you be patient if you dispute these marks yourself. The other option is to hire a professional credit repair company. However you decide to do this, you can have negative marks removed from your credit report.