How to Correct a Credit Rating

Video Transcript

"Hi my name is Bill Rae, I'm with Alumni Financial Services out of Seminole, Florida and I've been in the business in the finance world for well over twenty five years. Your question is how to correct a credit rating. Interesting question. If you haven't already done it then I would recommend that you write immediately to all three of the credit bureaus and get a copy of your credit. You are allowed to do this once a year at no cost. You are also allowed to do it if you've been recently turned down. But definitely get all three and put them side by side. Go through them line item by line item. Make sure everything in there is correct. If there is something in there that you are disputing, there are several ways you can do this. You can obviously go out and hire a professional. There are a couple of companies out there that are legitimate and are good and do get good results and don't charge an arm and a leg. However, you can also do it yourself. If the dispute is legitimate, in other words you don't owe that or for some reason the service or the item that's on there is inaccurate all you simply have to do is write a letter stating your case. Make sure you state why you think the dispute is going on and why you don't think it should be on your credit report. When I mail things like that I would always urge you to have it as a registered receipt, make sure you have proof that they received it. And before you mail it make a copy. Once the bureaus receive your letter they are required to move on it and to investigate and if the dispute is in your favor, they must remove it. My name is Bill Rae I'm with Alumni Financial services and always we are here to help you build true wealth."