A consumer's credit history indicates how likely they are to pay loan or credit card debt. It is also an indication of the amount of risk a consumer is to a creditor. The credit bureau evaluates categories of information- payment history, length of credit, new credit, type of credit, and amount owed. Improving your credit history takes time and there is no quick fix. One way to improve your credit history is know your credit history and correct any misinformation. Here is how...

1. Dispute your credit information- To dispute the information in question, contact a credit bureau for a copy of your credit report. I recommend getting a copy from all three. The credit bureau's are Equifax, Experian, and TransUnion.
2. After receiving your credit report, contact the credit bureau to initiate the dispute. The credit bureau will have a reference number and a toll-free phone number to connect you with a credit bureau representative.
3. The credit bureau will contact the specific creditor in question, who will then have 30 days to respond.
4. If the creditors do not respond within 30 days, the information in dispute will be removed by the credit bureau. It can take up to 90 days for your report to reflect the correction.

• If the dispute cannot be verified, the credit bureau must delete them.
• If the dispute are verified to be incorrect, the credit bureau will make the correction.
• If a creditor state the dispute are correct as reported, the items will remain on the credit report.

Here is the look at this weeks forecast for mortgage rates for September 11th, 2006.

Mortgage Update