If you have defaulted on your credit record; it is possible to have some of them removed. Defaults are non-payments recorded on your credit files. When a person is in default, they are subjected to lawsuits, liens, judgments; and other complicated situations. If you are a student struggling to pay student loans, a renter struggling to meet monthly bills; or a homeowner battling to stay out of debt you might want to know what is available to you.
If you have a college loan, which means you have a loan from the government you can ask for a default, which gives; you time to repay the loan. Other types of defaults include insurance policies, bills, car loans, personal loans; and other types of credit lines.
Errors sent to the credit bureaus
Sometimes we are subject to debts that may not be ours. There are thousands of collection agencies and credit reporting services throughout the US. Sometimes there are errors sent to the credit bureaus that put the default on your credit file.
Once the default goes on your credit file it remains there until the bill is paid in full. No, if you did not make the purchase the first thing you want to do is file a dispute.
The problem, however, defaults remain on your credit file for some time before they are removed. The upside is fighting for your rights and disputing the allegations made against you telling creditors that some boo-booed. If you have credit cards and purchased an item or service on the card and the service or item was defeated, you must first dispute the problem with the providers.
Defaults on your credit report
After you have disputed the issues with the providers. You will next contact your credit card lender and inform them of the defaults on your credit report. DO NOT pay on items or services that have done you wrong, since this means the creditors will view you in a different light.
If you have, insurance policies that are delinquent on your bills, you might lose your coverage, however, in some cases; you might be in more trouble than you realize. Read all terms & agreements as well as any other fine print before obligating yourself to a contract. If there is a default against you on your policy contact your provider immediately and try to work out a plan.
By making contact, you could save your insurance as well as additional debts added to your accounts. Anyone that lends you a line of creditors subjects you to defaults if you cannot make payments. If you have defaulted on your credit files make sure that you work to pay the debts down to avoid complications.
