Mutual agreement and trust are the basic keyways in the entire credit system. The basic meaning of credit refers to the trust imparted by one party on another party such that the latter does not repay the former immediately but instead pays shortly within the deadline set by the former. The following guide for the Most popular and best bad credit loans.
To remove all the negative pointers from your credit history, the following steps need to be followed: –
- Credit Dispute letter- The first step to be followed is to have a detailed look over the credit report to look for inaccuracies in all negative entries. Hence firstly, get a hard copy of your credit report and check every entry in the report carefully. Pointers like account number, balance, date of opening, account status, payment status, high balance, and credit limit, to name a few need to be checked. After full-proof checking, all the discrepancies must be noted down and sent to your credit agency to either have the entire entry removed or the discrepancy corrected. This may take a maximum time of 30 business days.
- Goodwill letter- This step comes if in case the credit dispute letter does not work out either due to absence of any discrepancies or your credit agency shows all the entries to be accurate.
In that case, a goodwill letter explaining your situation to the agency can work out. This step acts as a brownie point if you are a fresh customer of the agency because they want to maintain the relation with you