How Information gets on your Credit Report
Every month, every creditor and collector you are actively involved with is going to report things about you to any, or all three of the major credit report agencies. Your credit report and credit score will then be updated accordingly. Although it’s possible that there will be no new information added during a given month, information already on your credit report stays there for between seven and ten years, sometimes longer. As you’ll learn, this information will keep impacting your credit score for as long as it remains on your credit report. This is why working with a credit repair company such as DSI Credit Repair can be so helpful.
Many people don’t always realize that failing to pay something like a doctor’s bill, for example, will most likely have a negative impact on your credit report and credit score, if the unpaid bill ends up going to collections. Other companies that many people aren’t aware of, such as utility companies or cell phone companies don’t generally report to the credit reporting agencies. However if a bill goes unpaid to them and gets transferred to a collection agency, that negative information will eventually show up on your credit report and could dramatically lower your credit score as well. We’ve already talked about some of the many ways a low credit score can hurt you if not taken care of. It’s very important that you work to maintain a good credit history and keep your credit score as high as possible. If you find yourself needing help correcting information on your credit report, contact DSI Credit Repair.
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