Charge Offs - Dispute and Remove Off Your Credit Reports

Creditors charge off accounts all the time to avoid being responsible for the debt you owe them. They have every right to do it, but it would be nice if they tried to negotiate payments with you before charging off your account dinging your credit reports and lowering your credit scores. Because once they charge off it off, your account is closed with no chance of a good payment history showing up again. At least with a late payment you have some good payment history showing and the chance of having the creditor removing the late payment themselves, but not with a charge off.

This is the best way to remove a charge off from your credit report.

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Credit Bureaus Disputing

Charge Offs - Dispute and Remove Off Your Credit Reports

This can be extremely easy depending on the creditor and situation or it can stay on their forever if done incorrectly. The Fair Credit Reporting Act was put into place for consumers to dispute anything on their credit report they believe to be inaccurate or erroneous. Consumers may dispute anything on their credit report by just asking for verification on the item.

Never dispute everything on your credit report at once (unless you just have 1 or 2 items needing disputing) or accidentally verify the item yourself by claiming you had an account. Do it this way or your account could get marked as frivolous and make it impossible to send in another dispute for at least 60 days. Take your time, be honest, and write a good dispute letter. If the item comes back as verified, do it again, these things can take time.

Disputing and removing charge offs is not a new thing and has been around for several years, but the chance of removal has gone way up with rise in the following actions:

• Identity Theft - The fastest growing crime in the world.
• Credit Reporting Errors - The whole reason the Federal Trade Commission put the Fair Credit Reporting Act into affect.
• Unfair Creditor Practices - Obama has begun new legislation to stop credit card companies and other creditors from treating customers unfairly.

As you can see now more than ever we should be aware of our credit reports and what creditors are reporting to it. Dispute anything that is reporting negatively by asking for verification and your chance of charge of removal will improve drastically.

Charge Offs - Dispute and Remove Off Your Credit Reports

The credit bureaus have been forced to remove millions of negative items on people's credit reports. The leading credit repair firm in the nation removed 158,531 charge offs in 2009. I'm sure they could remove charge offs for you too.

Come see how they have removed charge offs time and time again. Give them a call at 1-800-223-7615 and let them answer any questions or concerns you have. It is never too late to begin your future.

How to Remove Inquiries - Delete Inquiries Permanently From Your Credit Report

Did you know whenever a credit inquiry is done, your score goes down? Getting financing can be challenging if you have a low fico score. There are ways how to delete inquiries from your credit report before the normal 2 year time period. Whether any negative information is your account or not it does not matter. The most important question is, can the item be verified.

There a two types of inquiry.

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The first type is known as Soft Inquiry. An example of this type is whenever you request a copy of your own credit report. It does not impact your credit score negatively.

How to Remove Inquiries - Delete Inquiries Permanently From Your Credit Report

The second type is known as hard inquiry. This does impact your fico score and all creditors can view it. If you have a lot of hard inquiry then you will have hard time getting loans or other type of financing.
It is very important to learn how to remove inquiries from your credit report before you apply for any financing.

The first step to start repairing your credit is by ordering all three of your reports. Once you check your report you will notice each bureau report will include an inquiry section. Now the inquiry section will include two types of inquiry, soft and hard.

The next step is to identify the items you want to challenge. Once you have figured out which inquiry is causing you problems, start with writing a dispute letters to remove negative credit from your report. Once the bureau receives your dispute letter they will investigate the item. Make sure to send your letter via registered mail so you can get a return confirmation that it was delivered. The bureau has to respond to your request in timely manner so this confirmation is a legal proof you have against them. The Fair Credit Reporting Act is legislation that congress passed to protect the consumer. This law says bureaus must investigate and remove inaccurate or unverifiable item.

You can learn how to remove credit inquiries from your credit report. You just need to know what to write, how to say it and who to send your request.

Beware of those companies who will charge you hundreds of dollar to remove an inquiry from your credit report. The Truth is everything a credit repair company can do for you legally, you can do for yourself. With little inside knowledge and some action you can get your credit fixed.

How to Remove Inquiries - Delete Inquiries Permanently From Your Credit Report

If you need help in writing a credit dispute letter to remove inquiries form your credit report you can download the credit repair guide from my website. This guide will show you how to remove credit inquiries, from your credit report then please visit us at http://www.creditsecretz.com

Short Sale Credit Repair - How to Remove Short Sales From Your Credit Report

As most of you know, short sales do negatively affect your credit. With regard to your FICO Scores, the credit ramifications are very similar to that of a foreclosure. In fact, the largest difference between the two on your credit report is the ability to obtain a mortgage. After a short sale, it is possible to obtain a mortgage in as little as 24 months (or even sooner, more on this later) whereas with a foreclosure, it typically takes 3-7 years for people to qualify for a home mortgage.

Moreover, if you've gone through any of the above scenarios, most likely your credit report is riddled with 30/60/90 day late payments which further reduces your FICO score, especially 90 day late payments (which has often been said to be as bad as a short sale or foreclosure itself).

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So here is the question of the day:

Short Sale Credit Repair - How to Remove Short Sales From Your Credit Report

Can Short Sale Credit Repair & Foreclosure Credit Repair Companies truly REMOVE these items from your credit report?

Many believe that this is not possible simply because of the fact that the items are negative. Well, as a nationally recognized short sale expert, I am here to tell you that this is far from the truth.

Within the Fair Credit Reporting Act, there exists a loophole that attorneys have taken advantage of for years on behalf of their clients. The key to removing negative items from your credit report is not to question the accuracy of the items, but rather, how verifiable the items are, according to FCRA requirements.

This is not something that people should try on their own. There is a specific list of items that must be documented in the event of these kind of disputes, and without proper knowledge of what these items are, creditors will not take you seriously. This is why attorneys are best known for this line of work. There are multiple, virtually unknown resources out there that have been proven to reduce & eliminate the typical consequences of a short sale & foreclosure. I highly suggest taking advantage of these built in "short-cuts" within our system.

Short Sale Credit Repair - How to Remove Short Sales From Your Credit Report

For more information on how this all works, feel free to check out my blog post by clicking the following link:

On Credit Repair

Kevin Kim is author of SeattleShortSaleBlog.com and founder of Short Sail Solutions, LLC, one of the largest team of short sale negotiators in the nation, with multiple offices in 13 states.

How to Remove Negative Items on Your Credit Report

Negative Paid Accounts

Unfortunately, you have no leverage in this case as the creditor has already been paid their money. The best strategy for accounts which were paid off a great while back and now just show up as a "Paid Charge-Off' or "Paid Collection Account" is to find something wrong in the reporting of the information so that you can initiate a reinvestigation for verification. The hope is that the accounts (now being an inactive paid account) may be stored on electronic files not in the main system of the creditor.

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This might create more work as far as research than the creditor wants to pursue just for
verification purposes. If so, the account must be deleted from your file for lack of a response from that creditor. The effectiveness of this method is hard to determine. It is as varied as the number of data storage systems in use today and the variety of people overseeing the process.

How to Remove Negative Items on Your Credit Report

I have heard about using the term: ESTOPPEL in some cases. What I have read is this: The creditor has already been paid and the consumer makes the claim that, when the debt was paid, the consumer was under the impression that the creditor would make a favorable entry on the consumer's credit report. BUT, when the credit report showed a PAID COLLECTION, this damaged the consumer's credit rating. So, the consumer files a lawsuit claiming damages.

The logic to this is that because the creditor already has the funds, what more can they gain by defending this lawsuit. Especially, if they are in another town. So, the creditor either loses by default or succumbs to the consumers demands. Personally, I think that this type of action requires guidance from your trusted attorney.

Old Delinquent Accounts:

(EXTREMELY IMPORTANT) MAKE SURE YOU DON'T MISS THIS)

This has long been probably the most unfair provision in the FCRA. The original 1970 law allows for a seven-year waiting period before negative collection accounts were automatically removed. This is referred to in Section 605(a)(4) "Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years."

That seven-year clock begins ticking from the time reported as the last activity. If you have an account that never was fully paid, that you have not made a payment on in five or six years, beware!

If you go make a payment on it now, you will restart that clock and have to wait another seven years for it to be removed. There is a distinct wording in Section 623(a)(5) of the Fair Credit Reporting Act that reads "the seven year period of reporting derogatory entries begins when an account is FIRST late and never get caught up. That is fact and there have been numerous court cases where Collection Agencies have been fined millions of dollars for violating this statute.

Confused, guess what? So is the system. BUT, you can rest assure that when a collector or mortgage broker tells you that by paying on an account you restart the seven year clock, that is hogwash. It begins when the account was first late and NEVER gets caught up. It is directly identified in Section 623(a)(5) of the Fair Credit Reporting Act.

Is it fair to be sentenced to seven years in a credit prison only to have your sentence increased for good behavior? I don't think so!
As you can see, in some cases, you may have to make a decision whether to live with a charge-off for another year, or, a paid charge-off for seven more years. A paid charge-off will trigger a credit denial almost as easily as one that hasn't been paid. It's a shame that our system provides no more incentive to pay these old debts.

Credit Fraud

How do you know if you are a victim of credit fraud? The signs can vary, but typical indicators of fraud include: Unusual purchases appearing on credit card bills

· Calls or letters advising that you've been approved (or denied) for credit for which you've never applied.

· Calls or letters from collection agency about accounts you don't have.

· Or you suddenly stop receiving your credit card bills, or all of your mail

Even though you didn't cause the problem, your credit is adversely affected. As with any other crime, as soon as you know or suspect that you are the victim of credit fraud, you should contact that creditor's fraud department and FILE A POLICE REPORT. You must advise the creditors of the fraud. Remember, the criminal may have used your identification to open the account, so the creditor may have no knowledge of the fraud until you report it. In order to establish the crime and to identify and possibly prosecute the criminal, creditors may ask you to complete certain paperwork.

Additionally, the bureaus have fraud departments to review cases and assist you, however assistance has not always been forth coming.

How to Remove Negative Items on Your Credit Report

Regis Sauger is a licensed Mortgage Broker in Florida, an author, lecturer on credit awareness. He has conducted seminars for underwriters, attorneys, mortgage lenders, realtors and the general public.

http://getoutofcreditprison.com/