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Dispute Your Credit Report - Credit Repair on a Deadline

Correcting credit errors such as charge offs and collections is not usually performed overnight. However, it is a quicker process if you dispute items in the proper order.
If your credit is a mess, chances are you have a variety of bad credit listings such as charge offs and collections. Some items are more damaging than others.
Here is a complete list of the negative credit items along with how much impact they have on your score.
Public Records/Bankruptcy are the most severe. Public records include tax liens and court judgments. These items are allowed to remain on your credit report for 10 years - as opposed to the seven years limitation rule that applies to other items.
When you file bankruptcy, you will have multiple negative credit items. You will have the bankruptcy itself as well as any items that were included in the bankruptcy case. All these notations are equally severe.
Collection items are very severely damaging. Try to negotiate with the agency for a complete deletion. You do not want to have a paid collection, or settled collection on your credit file.
Banks may not extend you credit for a new home or car if you have a repossession or foreclosure on your report. Try to remove repossessions and foreclosures as they fall into the very severe credit listing category.
A charge off is very severe. You may even have multiple listings on your report for a single charge off since it is bought and reported by third-party collection agencies.
It is shocking how much a single recent late payment can reduce a good credit score. Your best move is to negotiate with your creditor to have this deleted from your report. A recent late payment is very severe.
A 30, 60, 90, or 120 late payment is considered moderately severe. The later the payment, the tougher it is to remove from your report. However, one or two late payments can often be negotiated away with the creditor.
You should ignore old late payments if you have any items that are more severe. Leave these items alone until they are the only negatives that remain.
A wrong address or employer listing has no effect on your score. Plus, the credit bureaus will probably update this eventually.
In order to quickly clean up your credit report, you must challenge the most severe items first. It does no good to focus your time and effort on insignificant items like your employer or address.

Article Source: http://articles.yournetguru.com

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