how to clean up credit report? get better credit score?
Wednesday, April 21st, 2010 at
9:10 pm
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You can’t remove late payments and other negatives from your credit report if they are true. Try getting a secured credit card to start rebuilding your credit record.
References :
Late payment can show on your report for 7 years. They will only effect you for 2 years.
When you missed a few payment what does it show on the report, 30 days, 60 days, 90?
A few lates are NOT going to hurt you in obtaining new cards. You might not get the top of the line reward card but you will not need a secured card unless you went 60-90 days or allowed it to charge off.
People will bankruptcies, foreclosures and other negatives get cards all the time.
There are companies who will give you a new start, it might not be the best but it will get your credit rolling again.
DO NOT apply all over the place, the inquiries hurt your score 8-12 points and to many will keep you from getting anything.
If you paid off that card does it show a 0 balance?
Another thing that is absolutely false, you can have anything removed from your credit report if you do it the right way, many do it all the time.
Whoever is reporting it must be 100% accurate, being true means nothing. If it is NOT accurate it must be fixed or removed and in many cases they will remove it instead of fixing it. Especially if it is more then 1 year old.
I know someone who has over 50 negatives removed from their credit report and their score was in the 300s and is now in the 700′s.
Its called credit repair and can be done with some work.
http://www.badcreditloansfaq.com
References :
http://www.badcreditloansfaq.com
Sorry but those late payments will remain on your report for 7 years, they hold less weight after 2-3 but they will remain there. There is nothing you can do to have them removed accept time.
References :
Well first of all, there are many false answers so far.
Late payments are reported for 7 years on your credit report as per Running of Reporting Period – Section 605 [15 U.S.C. ยง 1681c]. If they were late more then 90 days or more, they will hurt your credit rating even more then just a few 30 day late payments.
As to getting anything removed by simply disputing it, that is a myth, only un validated information can be removed from ones credit report.
As to why your are being turned down, the creditor is required by law to send you written documentation of why the declined your application and who they used to determine your credit rating. This also falls under the Fair Credit Reporting Act. This would indicate what your problem is then you should try to resolve the issue that is causing the rejection. It could just be due to the current credit crisis.
You can download a free book at the link I have provided in the source section regarding the FCRA and your rights.
Here is a link to the FTC on how to properly file a dispute with the credit reporting agencies and how to get your credit reports for free.
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.shtm
You can also use this link to find ways to improve your score by yourself and save money
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm
Hope this helps answer your question.
References :
http://www.ftc.gov/os/statutes/031224fcra.pdf