Having a bad credit record is not good for you. Wiping your credit history clean may sound like the ideal solution if your credit prevents you from obtaining new loans or hinders your search for a home or job.
Most credit owners should make it their priority to assess credit reports for any discrepancies. Negative marks can lower your credit score for years and prevent you from purchasing specific items, such as a house or a car.
Do you want to know if it’s possible to wipe your credit clean? This article will tell you everything there is to know about removing negative information from your credit report.
Can I Erase My Entire Credit History?
Unfortunately, you cannot pay the credit agencies to start over with a new credit report, nor can you entirely wipe your credit history.
The idea of a fresh start may be enticing if your credit report contains a lot of negative information. Still, the credit agencies that generate your report don’t have any methods of wiping your entire credit history.
But don’t worry; several methods help you polish your credit reports.
Get A Copy Of Your Credit Reports
The first step to begin the process of repairing your credit is to dispute any untrue or unfair information in your reports. Unfortunately, not all bad material in your reports is inaccurate, but it’s not unusual for customers to discover disputed negative information on their credit reports.
You can request credit reports by contacting your credit company through email or a direct call.
Examine Your Credit Reports
You can grasp what hurts your credit and what you can do to improve it by checking your credit reports. Simple typographical errors could significantly impact your credit score, so you should carefully review your reports line by line to ensure that there is no inaccurate information.
When reviewing your credit reports, you should pay attention to the following details:
- Status of your loans
- The balances of your accounts
- Your payment history
- Credit Inquiries
- Personal information, particularly the spelling of your name, address, etc.
Submit A Dispute Letter
The good news is that you can dispute to remove the negative marks in your credit report if it’s the mistake of the credit bureaus—for example if the credit agencies or your lender confused you with someone else.
You must submit a dispute letter to the responsible credit bureau to dispute the negative marks in your credit reports.
Hire A Credit-Wipe Service
If your dispute letter is not accepted, it’s time to seek the help of a professional credit-wipe service. By applying pressure on your creditors, bill collectors, and credit bureaus, a credit repair specialist may be able to clean up your credit thoroughly. But it can be costly.
The cost of credit restoration is frequently determined every month because many credit repair businesses use a subscription business model. You can spend between $50 and $100 monthly for credit-wipe services.
You can resolve your low credit scores by yourself or hire credit cleaners, but ensure they’re reliable and won’t take advantage of you. There are numerous advantages of having a clean credit report. Your chances of being approved for new credit and receiving cheaper interest rates increase if you have good credit.