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Thursday, February 10, 2011

Removing inaccurate information from your credit report

I was recently going through my credit report and noticed listing about credit cards that I had closed a while back as well as contact info that was no longer accurate. Fortunately, having dealt with such issues before, I know that I can get any inaccurate info on my credit report removed by contacting the appropriate credit bureaus on my own. It takes time and effort but it's do-able. However, not everyone has the time or liking to do this task on their own. One alternative in such situations is to use firms such as Dsi Solutions and The Credit People that provide credit repair service.

While I haven't used such firms myself and don't mind doing the work myself, such credit repair firms can be of help if someone has inaccurate information on his credit report but needs some assistance to get incorrect information removed from his credit report. These firms can work with you in such situations by reviewing your credit report for any inaccuracies and then contacting appropriate parties to get the incorrect information removed. However, you should realize that these firms can charge fees for their effort. In addition, there are many firms that advertise that they can repair your bad credit. However, you need to be aware that there's no guarantee that using their services will help you repair your bad credit since any information such as late or missed credit card payments and so forth, while negative, may not be removed if the information indeed is true. Therefore, always do some due-diligence before using any outside firm to repair your credit.

Regardless of whether you use third party firms or contact the credit bureaus on your own to get incorrect information removed, such efforts may result in getting rid of inaccurate information from your report which in turn may result in improving your credit score. As many people know, having a good credit score can be a boon when seeking loans, mortgages, or applying for credit cards. In addition, some auto or home insurance companies may also base their decisions regarding premiums on credit scores. So it's wise to ensure that information on your credit reports is correct and up to date to avoid any surprises when applying for any loans.

Note: the above is a paid post

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posted by Ruby @ 3:22 PM

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