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By L J Sutherland
It seems great when you’re driving that new Porsche you’ve always wanted or living in your two story mansion. It is wonderful until we need to find the money to pay it all back. That is why it is important to learn how to delete bad credit history.
You need to be able to erase any credit history that is inaccurate, questionable or out of date. There are two ways to do this. You can file a dispute with the three major credit bureaus or directly contact the creditor yourself. Either way you will need proof of the claim you are trying to make. It could be a long, drawn out process.
When you file a dispute with the bureaus they will investigate it within thirty days. If they find new information they will update your credit report by deleting negative items from your report. If you directly contact the creditor you will be able to negotiate a repayment plan with an agreement to have your credit rating status reported as paid through the credit bureaus. This will clear your debt so you will be able to borrow again from the lenders.
Negative credit items may lead to charge offs with two negative listings from both the creditor and successive collection agency. A judgment or public record can be attached to your home or personal assets. Any collection default may cause a string of collections to be added to your credit history. This adds more bad credit being recorded on your report.
If you plead bankrupt it will stay on your credit up to ten years.
If repossession occurs it can be a hassle when you wish to apply for a home or car loan. It becomes hard to scrape up the money to buy the things you really want when you seem to have a black mark against your name. The lenders just want to refuse you of any assistance.
You could hire a credit repair attorney. They will be able to negotiate with the creditor on your behalf to sort out a repayment that suits both parties. You will need to investigate and find one that is affordable for your finances. Obviously if you are looking to repair bad credit, your financial position is probably below that of being able to pay this cost.
Bad credit is hard to erase.
Once you have a bad credit history the creditors are not interested in helping you out. The best way to avoid this is to avoid getting in debt totally. It’s as simple as just not borrowing from anyone, especially from the companies that will charge an interest fee.
You will also need to be careful to avoid the scammers as there are people out there who will try and take you for every penny you have. They will make you promises and once they get your money you will never hear from them again. You need to look for the legitimate companies who will help you out-The ones who will show you how to delete bad credit history-Hopefully forever.
About the Author: L J Sutherland offers free information to thousands of individuals who need help repairing their credit; you can visit his free informative and interesting website at: How to Delete Bad Credit History or http://erase-bad-credit-score.com
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