What is my credit history?
[kred-it his-tuh-ree, his-tree] n. Record of a consumer’s debts and payment history as well as public records including bankruptcies, judgments, and liens.
Put simply, your credit history is everything you have done in the past with regards to using credit. It includes the amount of credit you have used, your payment habits, and if creditors have had to resort to using collections agencies or the legal system in an attempt to get you to repay your debts.
When considering whether or not to lend you money, the primary goal of a lender is to determine what the odds are that you will not repay a debt. Your credit history is the best indicator they have of your credit risk. The assumption is that you will continue to behave in the future as you have in the past.
Rewriting your credit history
Lenders look to your credit reports as a record of your credit history and they will likely assume that the credit listing in your credit reports are 100% accurate. The problem is that very often these items are not completely accurate and are instead patently inaccurate or untimely, misleading, incomplete, ambiguous, unverifiable, biased or unclear.
If your credit reports contain these types of questionable negative items, you have the right to dispute these items in an effort to get them corrected or removed entirely. Lexington Law has hundreds of thousands clients legally dispute the questionable negative items in their credit reports.