Tag Archives: Disputing

Disputing Your Credit Report And Removing Negative Information

Experts estimate that 25% of all credit reports contains a blatant error. In other words 1 in every 4 people have a mistake on their credit history. This mistake could be costing you real money and higher interest rates, down payments, and potentially rejection for financing.

Congress passed laws that gives every US citizen the right to dispute any item on their credit report. You can dispute an item if you feel it is inaccurate or incorrect.

A negative item on your credit report can be inaccurate because: the dates are wrong, the balance is incorrect, the debt is older than 7 years, it is not your account, the account is paid, it is not a valid debt… In other words an item can be incorrect on your credit report for all sorts of reasons not just that it is not your account.

The law that entitles you to do this is called the Fair Credit Reporting Act. This law also requires the credit bureaus to investigate your dispute and it says if the bureaus are unable to verify the account with the lender or collection agency then it must be removed from your credit report.

It is estimated that up to 70% of all bureau investigations result in the lender not verifying the debt. This means that the item gets removed from your credit report and you’re one step closer to having a clean credit history.

As a result of our recent economic recession banks and lending institutions have completely revamped their approval requirements. To be approved for financing at competitive interest rates you must have a 700 credit score or higher. The average credit score in America is a 611, in other words rejection for financing or outrageous interest rates.

What Are The Steps Involved In Filing A Dispute?

1. Get Your Credit Report From Each Bureau – commonly the information on your report is going to vary between all 3 credit bureaus. An easy way to get blacklisted by the bureaus is to file a dispute for an item that is not reported with that bureau report.

2. Create Your Dispute Letters – in this letter you need to include your personal information, the item you are disputing, the reason you’re disputing it, and any supporting documentation you may have. This letter needs to be mailed to each credit bureau, 3 letters in all. You should mail this letter through certified mail so you have documentation that you filed your dispute.

3. Get Organized – unfortunately when the credit bureaus investigate your dispute they are only going to be spending money. There are no profits to generate from correcting information the credit bureaus collect about you and they are therefore very reluctant to investigate consumer disputes.

They do so only because they are required to by law and have a poor history of following that evidence by the many FTC fines that the credit bureaus have paid over the years. You will typically get a letter from them requesting more information.

This is nothing more than a stall tactic however you should comply and send in any additional information that they may be requesting. Additionally you need to make a note of this and where your dispute is in the process with each of the 3 credit bureaus.

4. Investigation – if you remain persistent and organized eventually the credit bureaus will investigate your credit report dispute. They’re going to contact the lender and ask them to verify the debt, the balance due, and the dates reported. If this information is not verified then the account must be removed from your credit report.

5. Check Your Mailbox – the credit bureaus are going to notify you of the results of their investigation, if the item was removed or verified. Celebrate your victories and just because you have an item verified on your credit report it still does not mean it has to stay there. There are other options to remove negative information from your credit report and without just waiting 7 long years. Don’t just live with bad credit, take actions they and use your rights to ensure that only information that is correct is reported on your credit history.

For a free credit consultation call 1-800-483-0256 or for more about how to dispute credit report and improve your credit history visit us.

Pull your free credit reports from all three credit bureaus once a year from https://www.annualcreditreport.com: Experian, Equifax & Transunion

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Disputing Experian Credit Report Errors

You’ve received your credit report from the reporting agency Experian and it’s riddled with errors. Old accounts, incorrect account information, and inaccurate payments histories on your report can negatively affect your ability to open new accounts or get favorable interest rates or even affect your chances of landing a new job.

If you discover errors on your record, you have the right to dispute the information and request a correction. The most efficient way to contest an item is through their online system. If you requested your report online, a dispute button appears next to each item on the report. Simply click on the button, and follow the prompts to initiate an investigation; choose a reason for your query from the drop-down menu on the page, and provide a short explanation in the comment box if necessary. If you submit your correction request online, you can follow-up on the status on the website, and you’ll receive the results of the investigation via e-mail.

If you have a paper copy of your report, you can challenge items online or via mail. Visit the company site and enter your report number, found near your name on the printed copy, and follow the prompts to dispute individual items.

Disputing an item by mail might be a more effective choice if you have specific evidence that supports your claim, such as a letter indicating that your account has been settled or paid. If you have evidence, send a letter (use the address on your report) that includes your report number, and an explanation of why you think the item should be corrected. Be as detailed as possible; including a copy of the report with the item in question highlighted is helpful. Include copies not originals of your supporting evidence, and send the letter via certified mail.

Once you request an investigation, the bureau immediately sends the details to the lender on the report. The creditor than has 30 days (21 if you live in Maine) to respond. If they agree that the information is incorrect, Experian will adjust your report accordingly. If they do not respond within the legal timeframe, the bureau will either remove the item in question, or update it per your request. You will always receive a report of the results of an investigation.

If the creditor disagrees with your argument, and they do not adjust the information on your report, you have several options. If you filed online, and have additional evidence to submit, mail the evidence with a letter stating your case to the reporting agency. You can also contact the lender directly and ask them to update their records and correct the report to the bureau. In some cases, if you have strong supporting evidence for your claim and the company refuses to correct the records, you may need to enlist legal help.

Keep in mind that Experian will never remove accurate information. And while companies you do business with regularly send information to all of the reporting agencies, it can take several weeks or months for your updated account history to show up on the report. Regularly monitor the report after receiving your investigation results to ensure that it is up-to-date and accurate.

For a free credit consultation call 1-888-585-3902 or to learn more about how to dispute experian and remove negative items on your report or for info about credit repair attorneys and how they can help in this process visit us.

Disputing Credit Report Errors – How To Delete These Listings

You just discovered errors within one or maybe more of the credit reports, and even worse, precise references to late repayments or other bad conditions that decrease your fico scores. Just take a few deep breaths and attempt to stay calm, because credit file errors may be fixed. You can eliminate numerous negative products, too and without assistance from businesses that promise to fix your credit.

how exactly to Dispute mistakes on the credit file

1) Make a duplicate of your credit history and circle every item you think is wrong.

2) Write a credit dispute letter towards the reporting agency (the target will likely to be printed in the report). Explain each dispute and ask for a study to resolve the difficulties. When you have supporting paperwork, send it along, coding pages to complement dispute paragraphs. Don’t send your originals.

3) forward all materials by certified post, return receipt requested, so that you can show the packet was obtained.

The credit reporting agencies have enabled you to dispute credit report online nevertheless we highly caution you against this. Enjoy it or perhaps not the credit reporting agencies are regulated and their particular behavior is influenced by our federal government. There credit reporting agencies tend to be exclusive companies as well as in absolutely no way are they a government agency!

slightly known key is that the credit reporting agencies happen fined again and again because of the FTC for not complying with national legislation. Until there’s some supervision as to how the bureaus handle online conflicts we as an alternative believe the utmost effective technique is through certified post.

4) deliver a similar letter of dispute to the creditor whoever stating statements you disagree with. Reference a billing declaration to get the proper target for conflicts, as it’s typically distinctive from the payment target.

if the dispute involves personal information, like your present address, enclose a copy of the driver’s license or a utility costs in your name to confirm your residence.

The reporting agency will initiate an investigation, contacting creditors to confirm the precision regarding the information. In the event that creditor cannot verify that entry is correct, it must be removed. As soon as the examination is total, the agency must send you a free of charge copy of one’s report if modifications were made. If investigation uncovers one, you’ve got the straight to ask that a corrected version of your credit history be provided for every person which got the report during the past half a year.

Tip: Contact your creditor very first, after that allow a bit of lead time before you decide to publish the dispute towards reporting agency. Once the dispute is validated, the creditor will ideally have corrected the error.

Where Should I Send Credit History Disputes?

You should deliver credit report disputes right to the bureau who offered the report with mistakes. Here you will find the mailing details for every credit bureau:

Equifax P.O. Package 7404256 Atlanta, GA 30374-0256

Experian Dispute Department P.O. Box 9701 Allen, TX 75013

TransUnion Consumer Possibilities P.O. Box 2000 Chester, PA 19022-2000

When you deliver credit report disputes, it’s also advisable to send copies of evidence you need to support your claim. Deliver your dispute via qualified mail, and that means you’re able to trace your letter. After the bureaus deem your dispute valid they will explore.

The hard part is getting the bureaus to deem your dispute legitimate. It is not tough the method however in a dispute request you are asking the bureaus to expend money which will have no opportunity to supply them revenue. This means that the credit reporting agencies just spend some money when they are fixing information they accumulated in regards to you and very hesitant to do this.

To get more on disputing credit file and how to fix bad credit by removing bad information from your own report and building positive directories visit us.