CONSUMER FAQS > ALL ABOUT CREDIT SCORES

Quick credit file corrections
Birchwood Credit has a service available through our mortgage brokers that allows credit reports to have errors corrected on an expedited basis, usually within 3 to 8 business days rather than the 30 to 45 days that is normal. The corrections are made at the major credit bureau level and require specific documentation, as well as, Birchwood Credit's validation of the error with the Lender. This service is available only during the process of applying for a home loan. It is not available directly to consumers and it is not available outside of applying for a mortgage. However, this service, when used, can save the usual 30 to 45 days it can take to process errors when requested directly by consumers.

When using this service we need to have a description of the error, and written proof of the correction to be made. As an example:

• Copies of bankruptcy papers, copies of lien releases, letters from the lender on the lender's letterhead stating the correction to be made and signed by the lender.
• It is important to note that on collection or bankruptcy account corrections that the last date of activity shows the date that the collection was paid off or the bankruptcy was discharged with zero balances.

Birchwood Credit will verify all written information provided and will then transmit the verified information to the major credit bureau reporting the error to verify, as well. The major bureau then changes the data on their file, installs a block against future data update changes and confirms that the change has been completed. The Birchwood mortgage broker is notified that the change has been completed and can now run a new credit report to compute a new score. There is no guarantee that the changes will result in a score increase.

For information on Birchwood Credit mortgage brokers or lenders in your area please contact us.