5 Ways To Get Rid of Bad Credit History

by Linda Cappello, Broker, GRI, ABR 06/09/2019

Bad credit history can get in the way of getting approved for a loan. It may seem like a stretch to try and get lousy credit away from your credit score, but it is possible.

The 5 ways to get rid of bad credit

1. You should take note of the delinquency date. Credit bureaus often update on the years of delinquency. However, some credit bureaus are also not as open as they would like them to be and they are not as up to date. If you are in a bad credit situation, you should take note of the delinquency date to help you compute for the right period of the seven-year credit report clock.

2. Confirm the delinquency date of sold off debt. In layman’s terms, we call this one the balance transfer. The seven-year credit report clock begins on the day of the actual delinquency from the original creditor and not any other date. If you see a new time that is later the original one, you can report it. 

3. Get all of the reports and find out what you are missing. You need to know the stories that give you a bad credit rating and what aspects they have factored in to provide you with that rating. Once you find out which one of the credit entities is listing the bad debt, you can contact them and dispute the debt that you think should no longer be in your account. So you can find out how to contact them, your credit report will include contact information of the bureau and instructions on how you can file for a dispute.

4. Send a letter to the authorities such as the reporting creditor and the credit bureaus. Let them know about your concern and make a request on how they can facilitate o removal of bad credit.

5. Contact a professional. You should contact a professional who can help you with the situation. It can be hard to understand the Fair Credit Reporting Act and only an expert can fully support you with it. Always keep in mind that a professional is there to lend a helping hand. 

You always try to talk to a credit professional to help you get rid of bad credit. Securing a mortgage is a long process if you have a low credit score, but it is not impossible. Follow the steps and contact a professional to help you with your finances.

About the Author
Author

Linda Cappello, Broker, GRI, ABR

Linda A. Cappello, Owner/Broker of Cappello Realty Shoreline Properties. Cappello Realty is a full service boutique Real Estate firm that specializes in 06855 - East Norwalk, and services all of Norwalk and Fairfield County, CT. Linda has been in the Real Estate business for 20+ years, spending 18 of them as a Owner/Broker. Being a Broker adds a lot responsibility to her job. She is responsible for overseeing every transaction and agent in the office. This is a challenge that she looks forward to and takes very seriously. She is constantly taking continuing education classes and attending seminars to keep abreast of the ever changing market as well as the industry standards, rules and regulations.  

She is a native to East Norwalk, and has an in-depth knowledge of the city that she loves, as well as the intricacies of the many unique neighborhoods and areas that Norwalk offers. Linda offers her clients a network of professionals ranging from Attorneys, Mortgage Brokers, Home Stagers and Home Inspectors to any and all pros that you may need for a successful transaction and for the convenience of her clients.  

"My job doesn't end at the closing table. It goes far beyond that, keeping in touch and staying friends who refer their family and friends. A lot of my business is referral business which is the greatest accomplishment and honor of all. Earning my clients trust."