When it comes to your credit report, it’s important to know about all the factors that can hurt your credit score. One crucial section, the public records section, can impact your credit score. This particular area is where creditors can see any wage garnishments, tax liens, foreclosures, a judgment against you, bankruptcies, or civil judgments that you have endured. These items pose a potential red flag for creditors because it indicates that you have not been able to keep up financial stability or keep your payment arrangements as agreed upon from earlier creditors.
Despite the negative impact these financial blemishes may have on your report, there are many ways to have them removed from your credit report and improve your credit score rather quickly. In order to do so, you will need to get your credit report from all three major credit bureaus. I suggest going to annualcreditreport.com where you can get your credit report for free.
Wait It Out
The first method to remove negative public records from your credit score is by waiting it out. Most information on your credit report will stay on it for 7 years. Keep in mind that some items, like bankruptcy, will stay on for 10 years and tax liens can stay on it permanently. You can contact the credit bureaus and ask them when each particular item falls off your credit report. The longer an item remains on your credit report the less of an impact it has on your credit score.
This method is ideal for those who are not in need of a new line of credit in the future. Continuing to pay other bills on time while you wait for the records to “fall off” your credit report will help keep up a positive credit score that creditors like to see. Additionally, it’s not advised to try to get extra credit during this time, especially when hard inquiries can lead to a lower scoring.
Once you receive your credit reports for all three bureaus, you should look for all the information that isn’t correct. Once you find the information that is not your own, you can dispute them directly through the website you used to get your reports. There will be a click able button that states dispute under each creditor. You fill out a form indicating why you’re disputing and they will email you after they have looked into the issue. More so, if there is no linkable button, you can call each bureau and speak with them directly to dispute the item. They will need you to give your personal information, as well as answer a few questions in order for them to id you.
In the event that there is no incorrect information on your report, the dispute action can still be taken to try to dismiss items off your report. You can dispute an item through Experian claiming you have no knowledge of a debit and wish to have it removed. In some instances, creditors or a company will not have the necessary documentation to show the debt’s yours and will ultimately drop it from your report.
Pay to Delete Letters
Another method that’s used, the pay to drop, has seen some success in removing items. You will need to contact your creditor via email or by sending them a letter to their company’s main address. Contact information is found on your credit report. There are many instances where creditors would rather drop the item and get paid, than lose out on that money.
This entails writing a letter that will state you are willing to pay off the debt in full if the creditor agrees to drop the item from your credit report completely. Creditors can add and remove items from a credit report at their own will, be sure to acknowledge that you’re aware of this. Additionally, be sure to ask for a confirmation agreement on company letter head, signed by authorized personal, before payments made.
Writing a Good Will Letter
A goodwill letter is another exceptional way to get negative records removed from your report and improve your credit. This letter to your creditors will explain why you defaulted on your loans, credit cards, etc. You can explain why payments where late, missed, or absent and then explain in detail what hardships you faced that caused this default to happen. At the end, you can ask for a goodwill adjustment to have it removed. You will have to write a goodwill letter for all the negative items to get the most off of your report as possible.
Finding Help for Credit Repair
If you would rather have help from a reputable company instead of doing it yourself, then you can refer to creditrepairkings.com. When using a company like this, they will give you a better understanding of why your credit scoring is so low and what areas to work on. They aid in the entire credit report, not just the public record aspect of it; helping you arrange payments, get items paid off using a decreased pay scale, write dispute letters, and many other valuable services. They can give you advice in how to keep your score in positive ranking and answers any credit related questions you may have.
These experts know the little tips and tricks when it comes to repairing credit scores and care about everyone’s credit. Weather its collections, judgments, tax liens, insurance, mortgage, late payments, or any other negative item listed against you. Consumers rest assured they will get the help they need, every question answered, and their privacy and securities protected.