How do I remove old addresses from my credit report?

Some of the best ways to remove old address from the credit report are as follows:

  1. First, inform the operator your intention to remove your old or false address from your credit report. Then they would ask you, which one of them is legitimate. You are required to respond to each question raised by the operator. Some of the probable answers could be a person who has never resided at a specific address or it belongs to another member of your family etc.

The operator would eliminate everything, which is not attached to a trade line. If they feel that, they are unable to remove a particular address owing to its link with the trade line. Jot down those ones.

  1. Two weeks later, begin the same way by requesting them to remove false address mentioned in the reports. As soon as you had furnished address, they would reply like– ‘It’s reporting and linked with trade line’.

What is meant by the terms ‘Good Credit’ and a ‘Bad credit’?

The term ‘Good credit’ is associated with the credit history of an individual. It is a clear indicator that the borrower holds an extremely high credit score with a safe credit risk. They are determined with the help of a credit score of an individual. The credit report of a person is supplied by the credit reporting agencies. The prospective lenders would take into consideration the credit scores and background details of a borrower. A good credit score starts from 670-800. Those borrowers whose credit score falls under five hundred is said to be a bad credit.

A Bad credit happens when a borrower is unable to repay monthly interest at the right time. Therefore, the borrowers need to fetch a very high credit score say about 800 for approval of credit by the prospective lender.

Factors that influence credit score of a borrower

  • A credit score is purely based on the payment history of a borrower. Any negligence on behalf of the borrower to settle payments on time would have a significant impact on the credit score. It would remain in his/her credit report for a period of about seven years.
  • In order to enhance the existing credit score, all the monthly payments should be paid within a prescribed period.
  • If a borrower is able to settle any outstanding dues quickly, it would help then in improving the credit score to a large extent.
  • Some of the other major factors that influence credit scoring include the type of credits, the average length of the credit history.
  • The traditional lenders primarily focus on borrowers who have a good credit score. In such cases, the borrowers execute the loan approvals instantly. They are most likely to receive an extended and favorable loan term.

So many questions with respect to removal of old address from credit report need to be addressed to the concerned operator and rectify the issue.