The Benefits of Adding a Consumer Statement to Your Credit Report

When it comes to fixing your credit report it can be very difficult to make sure that you get all of the corrections that may be needed done. In some cases it can seem almost impossible to have an item removed from your credit history. Even if you have proof that you were not late on a payment or that you never had the account it can seem almost impossible.

What many people don't realize is that you have the right to have a consumer statement attached to your credit report to explain why you have derogatory items on your credit report. Even if you have filed bankruptcy you can put down an explanation as to why you had to do so. In some cases when lenders take a look at the fact that you took the time to attach a consumer statement to your credit report and that the explanation seems valid they still may be willing to give you the loan. You will usually have to keep your consumer statement to a minimum of one hundred words and you should make sure you send one to all of the credit bureau. This is especially a good idea if you have been the victim of fraud and are having a difficult time proving that the money owed is not from you.

When dealing with identity theft and fraud it can be very difficult to prove that you are not the person who ran up the bill. In most cases people have found it to be impossible to prove that you did not make the purchase. This is why consumer statements are so important and why more people should really take the time to write them. Many often feel that they can explain why a certain derogatory item is on their credit report once they are able to talk to the lender. In some cases however you will not be able to talk with the lender, until after a credit report has been run and they have made their decision. Usually by this time it is to late. If you have not done so within the past six months you really should obtain a copy of your credit report and look it over very carefully. If you notice anything that should not be on there you should immediately take steps to have the item removed. This process can usually take several months. If it does not work than you should immediately submit a consumer statement to have it attached to your credit file.