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By applying for
credit through a bank of other lender
that subscribes to a credit reporting
agency outside the area, there's every
reason to believe that some damaging
information will not appear in your
file. Remember, the only way bankers
and lenders can survive is to extend
credit to consumers. By taking steps
to sidestep one credit report that has
negative entries, and taking advantage
of another that show you as a good credit
risk, creditors will practically force
hard cash into your hand.
Here's
how:
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Obtain a credit report
form one of the credit bureaus to
determine if there are damaging
entries that might cause your credit
application to be denied.
-
Call several banks
of other lenders and ask the receptionist,
etc., which credit bureau they use
in their application approval process.
If the individual tells you they
don't know, ask them to find out.
-
Select a bank or lender
that subscribes to a credit reporting
agency other than the one typically
used in the area.
-
Obtain a credit report
from the credit reporting agency
that your selected lender uses.
-
Repeat step number
4 until you find a report that is
favorable to your and shows the
least negative entries.
-
The only thing left
for you to do is apply with that
bank, lender, or other creditor
that subscribes to the credit bureau
that has a credit report the most
favorable to you. BULLDOG TACTICS
When you receive your credit report,
write down every piece of information
that is inaccurate or untrue. Even
if an entry is partially true, you
may still want to dispute it, especially
if your credit report will be improved
as a result. Read all of the instructions
on the back of your credit report
very carefully. Symbols may be used
for much of the information entered
and you will have to understand
each one. It's easy to become confused
but a number you can call if you
have a question will be provided.
Here
are steps you can take to have damaging
entries removed from your credit report:
-
Make a list of inaccurate
or untrue entries that you find
in your credit report.
-
Call the credit bureau
and tell the appropriate person
that you want to dispute an entry
you have noted on your credit report.
-
Don't allow any credit
bureau employee to talk you out
of proceeding with your appeal.
To avoid a distracting confrontation,
don't even tell them you want to
challenge. They won't initiate any
action on your behalf anyway until
they receive your appeal request
in writing.
-
To initiate the proper
appeal procedure, ask the person
you speak with to send you a "Dispute
Form."
-
Complete the "Dispute
Form" and return it to the credit
bureau by certified mail.
-
When the credit bureau
receives your written dispute request
they will then attempt to verify
the dispute you have indicated with
the bank, lender, or creditor responsible
for having the damaging information
listed.
-
You will be notified
of their decision within 30-45 days
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