Tag Archives: Dispute

Credit Repair Companies And The Tedious Dispute Process

Credit repair companies have been around for almost two decades. These companies are going to work under the Fair Credit Reporting Act which entitles every United States citizen to dispute any item on their credit report. The company will file the disputes and go through the dispute process on your behalf.

The Tedious Dispute Process

This is how the dispute process works. You first write a dispute letter to each one of the credit bureaus in which you include the reason the item on your credit report is incorrect and request that the bureau investigate the item.

Frequently this dispute letter is responded to by the bureau with another letter requesting more information about your dispute. The credit bureau doesn’t necessarily need this information instead this is a stall tactic.

The credit bureaus do not generate any income when they investigate and correct consumer disputes. Therefore they try to avoid these disputes because it means more profits. The reason the bureaus do conduct investigations into consumer disputes is to follow the Fair Credit Reporting Act a federal law passed by Congress which requires the bureaus to investigate your dispute.

Once you get this letter from the bureau requesting more information you then need to comply with their request and provide it. However the other two bureaus may have contacted you requesting different additional information and you are going to need to keep your communications with each bureau organized.

One of the most common ways the credit bureaus will blacklist a consumer and ignore their dispute requests is if a consumer files a dispute for an item that is not reported on that particular bureaus report. For example let’s say you have a charged off credit card on your credit reports. However this charge off is only reported on your Trans Union and Equifax report but you decide to dispute the charge off mark with Experian.

As a result of Experian not showing a charge off on your credit report and you filing a dispute, they are going to view that as a frivolous dispute and frequently will blacklist the consumer. For these individuals the credit bureaus will ignore all future dispute requests.

How Can The Bureaus Do This?

They can’t legally do it and the FTC has fined the credit bureaus over and over and over again. The most egregious of these fines was when the bureaus were required to set up a toll-free hotline where consumers could call in and file their dispute instead of writing a letter.

However the bureaus were not required to hire staff to answer these phones and as a result consumers waited on hold for reported times of 40 hours and more. The FTC did fine all 3 credit bureaus as a consequence and combined they paid over $ 1 million.

This FTC fine had critics outraged as the credit bureaus annually report hundreds of millions of dollars in revenue. The $ 330,000 fine that the credit bureau paid as a result of their violation of federal regulation was well worth the expense they saved by avoiding investigating consumer disputes for the months that this phone number was taking calls.

As you can see the credit dispute process is a very tedious and time-consuming process. Additionally dealing with the credit bureau bureaus bureaucracy and profit motive will add another layer of difficulty to your credit repair efforts. This is why many individuals turn to credit repair companies to clean their credit on their behalf.

For a free credit analysis call 1-800-230-1954 or visit us for more about credit repair companies such as a lexington law review.

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Why Employing Pre-Written Or Template Dispute Letters From Credit Restore Books or Computer Software Packages is Not Only Dumb… but Harmful

If you’re looking to fix your credit as quickly as possible the very last thing you should do is postal mail pre-written or template dispute letters on credit reporting agencies. Almost every single “do-it-yourself” credit repair book (and computer software) will present you with “Pre-Written” or “Template” dispute letters to employ.

These are designed to get you final results while conserving you time and money by without having to create disputes from scratch. May seem like an excellent concept, correct? Unfortunately, mailing these letters into credit reporting agencies is approximately the DUMBEST THING YOU MIGHT DO…

Here’s: perhaps you have questioned what number of dispute letters the credit agencies obtain almost every day? Take a guess. Simply take a crazy estimate. What do you consider: five-hundred every single day? A lot of a day? 5000 everyday? Amazingly, the credit agencies now get more than 20000 dispute letters just about every day.

But that’s perhaps not the issue. The difficulty is the way they handle them. You notice… The credit agencies determined in the past that control of dispute letters ended up being costing all of them a lot of cash. Actually (recently) each dispute was costing all of them about $ 4.50 to process. Multiply that by $ 20,000 in addition they had been spending…ninety thousand bucks each day just coping with customer disputes!

Naturally, the Credit Bureaus had to determine a method to get these costs down. Plus they made it happen with 2 items of technology called O.C.R. and E-Oscar. These days we are going to describe the initial one…

O.C.R. stands for “Optical Character Recognition”. O.C.R. is a computer know-how which instantly SCANS and READS over ten thousand letters every hour (regardless of whether hand written or imprinted). Much more extremely, it could keep all the tips it reads to a CENTRAL DATABASE.

Therefore, it can see any page which has been sent in far more than when and record it as a DUPLICATE. For new, this offered the credit agencies the power to recognize (and get) any “pre-written” or “template” dispute letter sent by a credit restoration corporation.

Even worse, it permitted them to learn any letter imitated by you…out of a CREDIT REPAIR Manuscript. Because of this credit ebooks (and pc software) with letters are so dangerous for consumers; since when you use all of them, you’re making use of the Same Letters which were used by every “poor schmuck” just who bought that report prior to when you.

And in the event that you imagine the credit agencies Computers aren’t gonna recognize the difference, you must mirror again.Bear in your mind, if you should be like a large amount of united states, you’ve got 2 life. The life span you live therefore the “unlived” life inside you.

between those 2 resides is “The Gap”… the task which must be done to have from where you stand today to in which you WISH TO BE tomorrow. And, if you should be attending to plus in receipt for the “big picture” here, you notice that your credit rating and earnings are the key things keeping you against getting to that accomplishment.

It’s keeping you back through the low rider you want…It’s keeping you from the hard cash you want for business and…it’s maintaining you against the residence you manor. Now the query becomes, “Are you going to do just about anything about it?” If you should be sick and tired of your credit history managing your own future after that “DO SOMETHING POSITIVE ABOUT IT” and look into the top techniques to start your particular credit repair requirements.

Jay Peters has Zodiac Publishing, which built the “Credit Repair Intelligence System”, providing you the answer to assist you with your need to understand dispute letters. For lots more no-cost reports and movies with circulation rights be sure to head to their particular site at: Credit Repair program.

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Credit Repair Dispute Letters: How To Write one That Get Results in 2017

Credit Repair Dispute Letters
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Credit Repair Dispute Letters

Video

Hello, and welcome to the Credit Repair Training Academy. In this video, I’m going to teach you the various techniques and tips on how to write a powerful dispute letter. Now I’m pulling this information right from the Credit Repair Training Academy class.

Now when it comes to writing a powerful dispute letter to assist you with removing inaccurate information off of your credit report, so you can – what? Improve your credit score. You have to know how to write a great dispute letter. Like you have to know what to put inside of that dispute letter, right? Because you’re communicating to the Credit Bureau. So that’s the whole purpose of writing a great dispute letter.

Now there’s a couple of things that you need inside of a letter when you’re preparing it, to send it to the credit bureau. So we’re talking about the Credit Bureaus now. We’re not talking about the collection agencies or the creditors.

Now when you are preparing your dispute letter for the first time, your credit repair dispute letter for the first time – you want to make sure that you have your first name, last name, date of birth, social security number, current address and the date. Now that’s the first block of information that you want on your dispute letter.

Now your dispute letter doesn’t have to be really fancy at all. All it needs is these basic elements that I’m getting ready to describe to you right now, alright? So – again – first name, last name, date of birth, social security number and current address and date.

Now you also want to put the account number for the accounts that you are challenging. You want to write down the creditors name and the account number that’s associated with that particular creditor.

Then you want to tell the Credit Bureau the reason why you feel this account is inaccurate. Build your argument. Explain, give examples on why you feel that this account is inaccurate, okay? Because you have to tell the Credit Bureau exactly what you want.

Now once you explain to the Credit Bureau why you feel the account was inaccurate, you tell the Credit Bureau what to do next. So now you’d tell them what to do. Tell them they need to fix it, remove it, correct it. That’s what you have to tell the Credit Bureau.

You have to give them the reason for this item being inaccurate, and then you have to turn around and tell them what they need to do from there. Because if you don’t tell them what they need to do, they won’t know what to do from that point, alright?

So if you have any proof that will support your argument on why the Credit Bureau’s need to remove this inaccurate information, then you want to submit that proof along with your letter. It’s very important that you follow these steps.

Now here’s some things you don’t want to do when you’re sending out a dispute letter to the Credit Bureaus. You don’t want to threaten the Credit Bureaus. You don’t want to really use legal language in your dispute letters when you’re first sending out these letters.

Now maybe 4 dispute rounds later, if the Credit Bureaus are not following the law, then maybe you can start mentioning lawyers, filing complaints – this sort of thing. But in the very beginning, you want to be friendly in your letter, and you’re just asking the Credit Bureau’s to remove or correct inaccurate information that’s on your credit report.

So don’t threaten them. Don’t harass them in the letter. Don’t seem or appear angry in your letter, because that’s not going to change your situation. They get 10 000 letters a day, and you are one of those 10 000 letters that go to the Credit Bureau’s.

And the Credit Bureau employees don’t even see the letters. They actually go through a computer, and the computer is the one who processed these letters. So you don’t have to get really fancy when it comes to writing a dispute letter.

Just send supporting documents with you if you have them. Explain to the Credit Bureau the reason why you feel this item’s incorrect. Tell them what to do. Give them that block of information that I just mentioned. And you can send it certified mail. If you’re doing it for yourself, send it certified mail. That way you know for sure that that Credit Bureau received your dispute letter.

Get Started Here:
https://startupcreditrepairbusiness.com/youtube-credit-repair-mastery-class-25-00-per-month/

Credit Report Errors – Why Do I Have To Dispute Directly To The Bureaus?

You must dispute directly to the credit bureaus or credit reporting agencies – Equifax, Experian, and Trans Union in order to trigger liability and responsibility on the part of the furnisher or creditor.

When I say credit bureaus, I mean Equifax, Experian, TransUnion and Innovis. There are a whole host of credit bureaus, but those are the main ones.

“Why do I need to go directly to them, rather than just sending a letter to Discover Card or to the debt buyer like Asset Acceptance or Midland Funding?”

The reason is the Fair Credit Reporting Act. The Fair Credit Reporting Act imposes obligations on both credit bureaus, the Equifaxes of the world, and also on the furnishers like Chase, Citibank, Midland Funding, Unifund and those types of people.

To have liability where you can actually sue under the Fair Credit Reporting Act, you have to go directly to the credit bureau. It may not make sense to us, and really it’s just a political accommodation when the laws were being passed, but you have to go through that sort of filtering mechanism.

You go to the credit bureau. Then the credit bureau sends the dispute, or at least information about the dispute, to the furnisher and says, “Hey guys, what do you want to do?”

The furnisher has an obligation to investigate, and the credit bureau has an obligation to investigate. They both have independent obligations.

When we sue them, they always like to point the finger at each other. The credit bureau says, “The furnisher gave us bad information.” The furnisher says, “The credit bureau didn’t tell us about the dispute.” They like to blame each other. That’s fine. We don’t care. We love it when defendants in a trial are pointing the finger at each other.

Just remember that you need to go directly to the credit bureaus. You can also send a letter directly to the furnishers. That’s a good practice, but make sure you dispute directly to the credit bureaus. Tell them why this is a problem, and give them any supporting information.

We’ll go over this in more detail in another video, but I wanted to answer that question of, “Why do we go to the credit bureaus directly?” It’s because that’s the only way to ensure that you have a valid Fair Credit Reporting Act lawsuit claim against the furnisher.

http://www.alabamaconsumer.com/CM/Articles/FairCreditReportingActClaims-DoIHaveToDisputeWithCreditReportingAgenciesBeforeSuing.asp

Here are the frequently asked questions on credit report errors – http://www.alabamaconsumer.com/CM/Custom/FAQs-about-Fair-Credit-Reporting.asp

If you have any questions about what we’ve talked about in this video, feel free to call us at 1-205-879-2447.

Thanks for watching!

John G. Watts
Watts & Herring, LLC
Serving consumers across Alabama
205-879-2447

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“No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.”

6 Steps To Dispute A Credit Report

All the three significant credit reporting agencies obtains credit information from lots and lots of data providers every day. Every month, how many updates with their database can come across the billions. Hence it is extremely difficult in order to prevent incorrect or incomplete information.

Each credit reporting agencies has their process of customers to dispute their particular credit report. However, generally speaking, it may be broken-down into six steps

Step 1 – Get Your Credit Report

You order your credit history from all credit agencies. Evaluation them and record down the wrong or incomplete information.

Step 2 – distribute A Dispute Request

You distribute your dispute request via e-mail, telephone or utilizing the on line form given by the credit agencies.

Step 3 – credit reporting agencies explore

Upon obtaining your request, the credit bureau will explore your dispute by contacting the creditors included.

Step – lenders research and answer Credit Bureaus

The creditors will explore to see if dispute is good. They are going to then respond to the credit reporting agencies using results their examination.

Move 5 – credit agencies modify Their File

If the creditors make sure disputes are valid, the credit reporting agencies will update their database with all the proper information.

Step 6 – credit agencies Notify You

Within 30 to 45 days, based on exactly how complex your dispute is, you certainly will receive a notification about the result of your dispute. IF you will find changes to your credit history, an updated content are send for your requirements at no extra fee.

If you are disputing the files in your free yearly credit file, the turnaround time are going to be 45 days.

For faster result, you are able to contact the lenders directly to dispute the records inside credit history. In this situation, it is possible to miss 2 and 3. However, when you have no knowledge or aren’t confident when controling creditors directly, it is advisable to leave the job toward credit bureaus.

Once you will get the updated credit history through the credit bureau, ensure you examine all of them carefully to be sure the wrong information happens to be eliminated. In the event the information you dispute was re verify as proper, you can request the credit bureaus to shown the record as disputed. If you need, you are able to include a statement to describe the dispute.

As the credit reports contain necessary information that impacts debt wellness, you must not think twice to dispute any records you are aware becoming incorrect, especially if you possess research to show your claim. Your credit rating will most likely get an important boost an individual will be done correcting those inaccuracies in your credit history.

If you’d like to learn about credit history and tips fix your credit score , check-out this credit enhancement resource at NetCreditGuides.com. For lots more helpful credit tips, drop by http://www.NetCreditGuides.com/blog and receive a totally free gift also.

How to Dispute an Equifax Credit Report Online

How to Dispute an Equifax Credit Report Online

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to Dispute an Equifax Credit rating Record Online 00:00:47 Part 1 Coverage a Mistake Online 00:00:54 1 -Gather relevant info 00:01:17 2- Go to the online disagreement site 00:01:42 3- Enter your
personal details 00:02:18 4 -Pick which kind of information you are challenging 00:02:40 5- Select the info to conflict 00:03:05 6- Verify as well as send 00:03:37 7 – Wait on a response 00:04:30 8 – Consist of a declaration of dispute 00:05:43 Part 2 Adhering to up with a Letter 00:05:50 1 – Find an example 00:06:15 2 – Send by mail the letter 00:06:53 3 – Pull your other credit scores records Web content extracted from WikiHow http://www.wikihow.com/Dispute-an-Equifax-Credit-Report-Online Video Rating:/ 5

< things type="application/x-shockwave-flash" style="width:425 px; height:355 px;" data ="// www.youtube.com/v/Smu2S3FXiXA?color2=FBE9EC&version=3&modestbranding=1" >< param name="film" worth ="// www.youtube.com/v/Smu2S3FXiXA?color2=FBE9EC&version=3&modestbranding=1"/ > If you have errors on your records, you must dispute directly with the credit rating reporting companies to ensure that the furnisher of the false information (financial institution, etc) has a responsibility under the Fair Credit score Coverage Act (FCRA) to check out.

[If you have a debt enthusiast reporting, you have various other choices as the collection agency operates under the Fair Financial obligation Collection Practices Act (FDCPA)]

This additionally puts a commitment on the credit reporting agencies to additionally check out.

If you live in Alabama, don’t hesitate to contact us or check out extra information about this subject. http://www.alabamaconsumer.com/articles/credit-report-errors/ You could additionally review an article on this exact topic right here– http://www.alabamaconsumer.com/2012/04/fixing-credit-report-errors-who-do-you-send-a-dispute-letter-to/

Dispute Credit Report Online

You can initiate an investigation from many online credit reports by following the links online and checking the disputed items as directed to file a online credit report dispute. There sometimes isn’t a place for remarks, you’ll simply check a multiple-choice reason for each credit report dispute.

If Changes Aren’t Made

If the credit reporting agency says the original information is accurate, it must provide you with a written notice that includes the name, address, and phone number of the person who made the report. If you still disagree, initiate a second investigation.

Unfortunately, in the real world the reporting agencies often try to sidestep that requirement, giving you standard, computer-generated information rather than the facts you need to find the person or department who made the negative report. Keep plugging away until you have the answer you’re looking for.

If your attempts to correct an entry are unsuccessful, you can ask the reporting agency to insert a 100-character explanation next to it that explains your side of the story.

Sometimes You Hit a Dead End

I know from personal experience that it’s sometimes difficult to have information changed, even if you can prove it is incorrect. A family member has not been able to have an incorrect employer notation corrected, even though he has not worked at the company for many years.

The standard response from the credit reporting agency is that they would not have the information if he had not included it on an application for credit. They refuse to remove the incorrect notation, even though he has provided them with a letter from his current employer and several W2s.

Why did that happen? Someone likely keyed-in a previous employer as a current employer. Sometimes you simply cannot get through to them that errors exist.

Negative Entries

Bankruptcies remain on your credit report for ten years, while other types of entries are generally reported for seven years. If an account that was previously past due has been brought current, and has been either paid off or kept current for at least a year, the creditor might agree to an early deletion of the past due references. This will help you repair credit history of the negative item.

Write a letter to your creditor and request that the negative entries be removed. They’ll often comply if they see you are up to date and handling your account in a positive way.

Another tactic you can use to clean up your credit report is to dispute a negative item even if you believe it is accurate, but you’ll have to follow your conscience to decide if that’s an ethical way to go. It would be smart to consider hiring a professional to help you so you can avoid hitting a dead end.

Professional services are surprisingly affordable especially compared to the expense of bad credit. Stop just living with these unnecessary expenses and get busy on fixing your credit today. Do it yourself or hire someone but get it done immediately.

Visit us and find out the exact steps to file an credit report dispute and and erase bad credit marks so you can raise credit.

http://www.instantcreditrepairletters.com Learn why the Free or Sample Credit Report Dispute Letters Will Not Work.

Methods to Dispute Experian by Mail

It is your legal right to dispute your Experian credit report, states the law of Fair Credit Reporting Act to dispute any inaccurate information on any of you prevailing credit accounts. Items like, late payments, vehicle reclamations, indebtedness, home foreclosures and collection accounts are all examples of bad entries on your credit report. If these entries are justified then they take about 7 years to get wiped off from your report and if they have any inaccuracies then you are ought to file a dispute with the Experian credit report.

You need to first know the reason of disputing Experian credit report and then plan out how to work on it. You have three options to dispute, that are, mail, online or via call. You would be asked to provide your details that include your name, your home address, date of birth and you social security number in all of these methods.

Briefly tell the agent your reason of you not agreeing with the negative entries. In case you need their address to mail them the letter then you shall ask them with respect. Write them a precise letter quoting the reason you want to dispute your Experian credit report and also post the copies of the documents in support of your query.

You have to wait for about 45 days to know whether your investigation resulted in erasing your negative entry from your credit file. You would take delivery of a mailed letter and in some cases a copy of your updated credit report.

You may have to send them letter bidding for a new investigation in case your work to dispute your Experian credit report could not work. You furthermore have the opportunity to add a transitory statement to your credit file clearing up why you make ill with the bad item in query.

How to dispute experian by mail and get real results. Get a step-by-step guide for an equifax dispute , or call: 1-866-246-7311 for free instant help.

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How to Dispute Transunion Online

Transunion is also offering consumers to file their dispute online. They use such kind of attractive language that a consumer attracts towards it. If you have filed your dispute with Transunion online, it will be a big mistake for sure. It is suggested by the professionals that you should not open up a dispute with Transunion online. Online dispute is recommended only when we have to update personal information like address, spelling mistake and some others.

If you are filling your dispute online you also cannot communicate openly with the credit bureaus. Online disputing system is black and white, you can only select disputed items from the category and many times it does not exist in the category list. Making a credit dispute is very complex process and there is no evidence of an individual who got victory after filing an online dispute.

The most effective way of filing a dispute is to produce it in a form of a letter which you must send via certified mail. Delivery confirmation receipt must be kept for an evidence to keep you safe for any future trouble.

There are some important things which you must keep in mind while preparing a dispute letter for credit bureau. Do not forget to mention your full legal name, your social security number, current mailing address and copies of your passport or driving license.

Also include your creditor’s name, name of disputed entry, and name of collection agency which is following you to get back money. You should also mention the amount due against your loan in words or figures. You can also make your dispute letter more effective by mentioning the name of law which is giving your rights to dispute. Fair credit reporting act is the name of law which protects consumers against the unfair acts of credit bureaus or collection agencies and usually people are not aware of it.

Check out more on transunion dispute and see how to file transunion online dispute.

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How To Dispute Errors On Your Credit Report

How To Dispute Errors On Your Credit Report

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