The Real Estate Encyclopedia
What If I Find Incorrect Marks On My Credit Report?
Category - Home Buying Questions - General Home Buying FAQ's

Experts believe that 79% of U.S. credit reports have detrimental errors, which can seriously affect the consumer.  In order to ensure no errors exist in an individualís credit information, it is sometimes necessary for the borrower to efficiently optimize his/her credit scores utilizing professional help.  There are many entities who are dedicated to assist the consumer in the credit repair process for a certain fee.  Customers can sign up on line.  There is usually an initiation fee, as well as monthly fees. 

 

Once the credit restoration process is started, the customer should receive their first dispute packet addressing incorrect marks on the credit report. Typically the packet will contain such information as instructions to access their progress report, an explanation of the dispute process and dispute documents to be reviewed by the customer.  At this time, the consumer must review all information carefully and read any accompanying instructions.  If no changes are found, the customer signs the letters and forwards them to the appropriate agencies, following the instructions provided in the packet.  Should the customer have changes, they are sent to the processing center.  Customers will receive progress reports and the process will continue until any errors have been corrected. 

 
Category(s)
Mortgage Questions - Mortgage Loans FAQ's
Home Buying Questions - General Home Buying FAQ's
Real Estate Information Sources - General Real Estate Information
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