Credit,Repair,After,Foreclosur finance, share, loan Credit Repair After a Foreclosure
If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that
The maximum amount of time a foreclosure can be on your credit report is seven years. There are false reports that say a minimum of seven years.These reports are false, did you know that credit reporting is entirely voluntary. A lender does not have to report a negative mark on your credit file and can remove one at any time.I suggest the first step you take is to dispute the listing with the credit bureaus. This is done through a dispute letter sent to each credit bureau.In this letter you are challenging the accuracy or validity of the foreclosure. You must include the reason the mark is wrong for example; item is out of date, amount is wrong, not my account and etc.It is common for credit bureaus to deem an initial dispute letter invalid. They will respond and ask you for more information about the dispute. This is a common stall tactic for the bureaus. They use this because it only costs them money to conduct an investigation.Thus you repeat the process and if you are persistent you have a good likely hood of getting a dispute deemed valid. Then the bureaus will conduct an investigation.If the foreclosure can not be verified then the mark must be removed from your credit. With the housing crisis many lending institutions have gone under or are in financial turmoil. Thus there is a chance they will not be able to verify the foreclosure.If you are having trouble submitting a valid dispute or the foreclosure is verified then I recommend a credit repair service. They often have credit lawyers on their staffs that have an expert understanding of credit laws. These lawyers can use advanced dispute tactics or if necessary even take your case to court.We fully prepare to see some new credit laws or case precedents come out of this housing crisis. I would recommend a credit repair service to individuals trying to remove a foreclosure. In addition a service will be able to remove any other negative marks on your credit report.You do however have one more option. You can negotiate a settlement agreement with the lender. In exchange for your payment get the lender to agree to remove the foreclosure from your credit report.In sum, items of bad credit do not have to stay on your credit report. You can remove negative items and clean your credit report.
Credit,Repair,After,Foreclosur