What Is Credit?
Essentially, credit is accepting something of value now with an agreement to pay for it later. Moreover, there is usually a finance charge added by the lender. Consequently, moves made after establishing credit will impact your score. In any case, a solid strategy will benefit you.
Redesigning your credit is a lifestyle… adjustments/goals should be made. At the same token, if you’re figuring out how credit works… I strongly recommend my financial literacy link. Being knowledgeable is beneficial to everyone.
Also, if you’re ready to optomize your credit profile, but don’t have time to DIY. Use my affiliate link for the service.
How Disputes Work
The bureau must note the dispute and investigation on your credit file. To add, this process should be completed in about 30 days. The bureau must update you with the results.
There are a few decisions you’ll see such as, Verified: No change is made. Modified: Revisions are in place. Deleted: Removal of items. Deemed frivolous: No further investigation will be made.
Look for lawsuits or judgments older than seven years after the judgment is entered, or after the statute of limitations expired, which can vary by your state. Inquiries should automatically delete after two years, so dispute those if necessary.
Don’t forget to read my blog Your Financial Path for additional information. I have two eBooks available via TeeSpring too. The Family Edition is a great resource to introduce minor loved ones to the credit world. Thanks!