Cure My Score has helped thousands of people regain control over their credit and we have compiled the two biggest mistakes our past clients who tried to fix their credit on their own made. Certain things in the credit world cannot be undone, if you decide to take this task on your own, be very careful. Keep in mind; Federal laws give you the right to dispute anything on your credit report. You can also try to give yourself a root canal, some things are best left to professionals.
#1: Not understanding how deleted accounts affect your score
We hear it all the time, I used to have an account with xxxxx Bank opened 6 years ago and it no longer appears on my credit after I disputed an old 30 day late. Credit reporting is very complicated and every part of a trade line counts in your score. Once an account is deleted, you can’t force the creditor or the credit reporting agencies to re-report it. There are many cases where an account with a previous late is much more beneficial to your score by reporting the trade-line than not reporting it. On the other hand, there are situations where one missed payment can cost you many credit points and is exactly what is keeping you from getting approved at the lowest rates.
#2: Online disputes
As our electronic world continues to evolve, the credit reporting agencies have made a big push for consumer disputes to be made online. All disputes are currently facilitated thru a very complex system called e-OSCAR (Online Solution for Complete and Accurate Reporting). A dispute filed online creates an instant dispute with your creditor. No one at the credit reporting agency even has to review your dispute. Many experts have testified your creditor investigation simply verifies the credit reporting agencies are reporting the same information that appears on their computer screen and they normally confirm the information is reporting accurate. This yields no change to you credit. If you think about it, the information the credit reporting agencies report about you comes directly from your creditors computers so why would that information be any different when they investigate it? Online disputes do not allow you to tell your whole side of the story nor can you attach any proof to the credit reporting agencies. Cure My Score does 100% old fashion paper disputes thru the U.S. Postal Service. Once the credit reporting agencies receive these disputes, they review the dispute and any supporting documents and either correct the mistake or they manually enter the information into e-OSCAR requesting verification from your creditor. We have found the human interaction and dispute review is the most effective way to get trade-lines to report 100% accurate.
The bottom line is, be very careful disputing any information on your credit. Anything you do or say becomes a permanent part of your credit record with the credit reporting agencies. Cure My Score is a professional credit restoration company that assists consumers in earning and maintaining the highest credit scores possible. Call us today at 412-564-5370 and mention code “2 biggest mistakes” and get a free initial consultation to determine if our program can benefit you.