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.
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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.
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Obtain a credit report from the credit reporting agency that your
selected lender uses.
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Repeat step number 4 until you find a report that is favorable to
your and shows the least negative entries.
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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:
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Make a list of inaccurate or untrue entries that you find in your
credit report.
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Call the credit bureau and tell the appropriate person that you
want to dispute an entry you have noted on your credit report.
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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.
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To initiate the proper appeal procedure, ask the person you speak
with to send you a “Dispute Form.”
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Complete the “Dispute Form” and return it to the credit bureau by
certified mail.
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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.
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You will be notified of their decision within 30-45 days
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