Dispute Credit Letter – Remove Bad Credit On Your Credit Report
A dispute letter is an individuals’ method of challenging a negative mark on their credit report. In this letter a reason for the dispute and what item you are disputing is required.
Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more. The bureaus will conduct an investigation into the mark when they deem your letter valid.
During this investigation the collection agency or lender is contacted and the account is verified and the dates and amounts. If the account can not be verified then it will be removed from your credit report.
Typically investigations will result in the removal of a bad credit item. This happens because many businesses are just unwilling to spend the resources to verify disputed accounts.
Allegedly bureaus do not check public records during investigations. This means that negative marks that are recorded in public records are often removed.
Another option is to hire a service to perform your disputes for you. This can help tremendously especially if you are disputing multiple items.
Often dispute letters will result in a return letter from the bureaus requesting more information about the dispute. In addition each bureau needs to be disputed separately.
Thus organizing all your disputes with each credit bureau can be a task itself. Many services can use advanced dispute techniques in case a bad credit item is verified. The techniques include; escalated dispute information requests, debt validation, and creditor direct intervention.
Also services will have attorneys on their staff. This enables you to go to court should it be required and file a lawsuit against a collection agency if you are the victim of illegal collection practices.
Credit repair is not only your right it is your responsibility. There are estimates that 1 in every 4 people have inaccurate information on their credit report.
In sum if you have unverifiable or inaccurate information on your credit report you should use a dispute letter to challenge it. You can remove bad credit without waiting 7 years.
Filed under: Business