If you have a derogatory statement on your credit report, you should take a few deep breaths so you don’t tear your hair out. Hey, stuff happens. It is not the end of the world. Don’t let a few bad lines on your credit report and a low credit score get you down. There is something you can do.
You can take matters in your own hands and as long as the truth is on your side, you can take some simple steps that will help you fix some of the derogatory lines on your credit report. After you have fixed these statements, you should be able to get a better credit score.
Of course, nothing is guaranteed since the credit reporting agencies have different processing units that will handle your request. They have different standards and it might all boil down to how the person handling your credit score repair request is feeling that day or how good their lunch was. Maybe if they had a great lunch and they are feeling drowsy, they will approve your request and you are well on your way to a better score.
The worst case scenario is that you would have taken some time and expended effort to fix your credit score and nothing happened. At least, this is better than not having tried at all.
Follow the tips below to help boost your credit score with a simple letter and phone calls.
Target old derogatory statements
Whenever you miss a payment, you run the risk of getting derogatory statements put on your report. That’s life. It’s all part of the responsibilities of being an adult-you take out debt, you have to pay for it at the right time. If you find yourself with a few derogatory statements, you should target older lines first. Try to find documents that provide background for that old debt and missed payment. Your chances of getting these removed are higher than if you were to target newer derogatory lines.
In your letter, make it clear that you actually cleared up the debt. Make a point about the fact that the derogatory statement is fairly old. Appeal to the reader’s sense of fairness. Explain the background story behind the missed payments. Try to put the reader in your shoes at the time. Also, make it clear that you have been a good payer afterwards and that repairing your credit now will help you in a personal way.