If you have recently been denied by a lender for any type of loan because of your credit score, you are probably wondering what to do next. Self credit repair might just be the answer to your problems. I would hope that your loan officer has gone over your credit report with you. Most loan officers will mail you a copy if you request one It used to be that loan officers were not supposed to give out the credit report they got on a customer. This is not the way it is any more. If you ask your loan officer for your report and they deny you, don’t be offended. They are probably going by the outdated rule. You should ask them to check with their state bank commissioner if it is alright to give a customer a copy of their report. In addition to your report, your loan officer should also send you a “Statement of Credit Denial”.
If you get these two documents, you can get to work. You can accomplish for yourself precisely what a credit repair service or credit repair agency would cost you a lot of moneyfor. At this point you need to do the following things: 1) Get free copies of your credit reports from the credit reporting agencies, 2) Create credit dispute letters to dispute any item that you find on your credit report that is reporting in any way inaccurately.
Acquiring your free credit reports is no problem at all. (This may sound backwards since you already possess a copy that you obtained from your loan officer; but read on.) You simply write a letter to the credit reporting agencies asking for a free copy of your report. You have a right to a free copy since you have been denied a loan. The mailing addresses of the credit bureaus are at the bottom of the credit report that you acquired from your loan officer. Send the request for your free credit reports out first. Even though you got your credit report off your loan officer, you still have to ask for your free credit reports from all the credit reporting agencies so that they make a special file on you.
The final step is to create all your dispute letters. This could take you fifteen minutes or five hours depending on how lengthy your credit report is and how many things you want to dispute. There are several different credit letter samples on the internet. Using any of those should work fine. You then need to create dispute letters for each item on the credit report that you DO NOT believe is absolutely accurate. The law asserts that everything on your report must be perfectly accurate. If you are not sure if something is 100% accurate, then it is your decision as to whether or not you ought to dispute it. Let the creditor prove they are reporting properly.
Coming up with these credit repair letters is simple enough, but if you’re wanting to saving yourself even more time, you will want to take a look at the automatic tool offered at CreditBlossom.com. There you can create your credit repair letters in a ridiculously short amount of time.
