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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.
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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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