I least expected members of my own household would be having problems with their credit reports with no idea of how they can get rid of them even when they’re certain of it as mistaken. Loans from individuals within the family can be tolerated even when overdue for repayment as this will not affect ratings in any document, though it does affect integrity if not honored.
Before any reporting bureau will slap a collection into your report, either of two things caused it: you attracted it or it is a mistake. A mistake could have occurred from matters relating to a mistaken identity too. Recognize that in either of the two cases, you can always remove the particular account permanently from your file, provided you’re not responsible for it.
Whether the recorded information on your file was a mistake or a necessary action and you choose to make a positive impact on your report by removing it, make sure your first directional step should be to pick up your three-fold credit report. It is from there you’d be able to make the necessary decisions on which way to go regarding restoring your rating.
There are some things you should keep in mind when you plan to get rid of collections: understand that Equifax, Experian and Transunion function separately even though they serve the same purpose, therefore choosing to repair only one file will not get the negative account off from your other files if it is contained in the version of the other two. Therefore, you should work on any of the file that needs to be handled for repair. If your file contains negatives of any sort, transfer it to a good repair agency or purchase a repair kit to do it yourself.