Bad Credit History

November 24th, 2009 at 04:51pm Under Credit History

Question:
Help with bad credit history?
I have received bad credit history through a credit card I owned. I had a couple late payment but then paid it all out in full. I have a credit history report and it states it will be on default for six years but can I clear this, as I am wishing to rent a house and do not want a bad credit history to affect me.

Answers:
Is this account still open? Did you close it?
The listing in the credit report should read “Paid” if this account is no longer open or “Pays as agreed” if this account is in fact open. Did you happen to close the account after paying it off in full? If this is your only problem, then I think that you should be okay in terms of renting a home. Do you have any other negatives in your credit report? Do you have alternative accounts that are in decent standing?
If the account is no longer open and it does not say “Paid” then you shoul dispute this with the credit reporting companies. You can achieve this on the internet. Go to http://www.annualcreditreport.com and get the free copies of your credit report. If you have already tried this, then good. Now go to all of the credit reporting agencies and issue online disputes. This is the quickest and most effective way to argue an item. On the internet, they give you a list of choices on how to carry this out. Choose the option that best fits your problem. I think that there is a choice that says “I paid this account” if it does not say paid.
If it does in fact say paid, you can alternatively try to dispute it’s very existence in your credit report. The credit reporting company has thirty days to verify the data. If it can’t, then they don’t have any choice but to remove it.
Generally, one bad item out of many of other good items shouldn’t damage your credit that much.

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