There are several issues that could damage your rating and at the same time be obstacles to your accessibility to loans. These could come in form of bankruptcies, collection accounts, missed or late payments, repossessions, foreclosures, charge-offs, or even a misspelled name or mistaken address. Yes, they do have the potential to damage your score, and this is not good considering that it will deny you the best of chances when it comes to getting funds that are needed at crucial moments.
What you should do in instances such as this is to begin a restoration of your credit file. This is sort of a make-over for your report. Remember that it is the information that the credit bureaus get from creditors that they enter into your file. As a result, you should make sure that you have a recent copy of your report from the website annualcreditreport dot com, where you will get a three-fold document: Experian, Transunion, and Equifax.
Understand that a report containing errors will reduce your chances of getting good loans and impressive interest rates from financial institutions. This is one reason why you do not want to neglect or ignore your file, and even more when you plan to get a loan in the near future. Get a marker or highlighter and highlight the negative items on your report that needs to be fixed. When this is done, you will begin a process known as disputing with the bureaus. This will involve writing dispute letters to the reporting agency that has the erroneous or negative info listed in your file.
Bureaus have a maximum of 30 days to start and begin their investigation from the moment they get your letter. This ensures that your file is catered for, and if not done within the 30-day period they should delete the stated account in your file.
Another means which you can resolve issues on your file is to solicit the services of a restoration agency. Obtaining a DIY restoration kit will teach you how to handle it yourself.
Visit do-it-yourself-credit repair or credit repair services to learn more on raising your credit score 200+ points to get approved for car, home and credit card loans.