Dispute Credit Letter - Remove Bad Credit On Your Credit Report
A dispute letter is your method of challenging the accuracy or validity of a bad credit mark on your report. In your letter you need to include the reason for your dispute and the mark that you are disputing.
Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more.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 and investigation the credit bureau will contact the lender or collection agency that made the negative mark and verify the debt and its dates and amounts. If the account can not be verified then it must be removed from your report.
Frequently investigations result in bad credit marks being removed from your credit. This is often because businesses do not want to spend the extra money and time validating disputed debts.
There are rumors that credit bureaus do not check public records to verify debt. This means that bad credit marks such as a judgment or foreclosure are often removed through a dispute.
Another option is to hire a service to perform your disputes for you. This can help tremendously especially if you are disputing multiple items.
Frequently dispute letters will result in the credit bureaus requesting more information from you. In addition you must dispute a bad credit item with each credit bureau 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.
It is your responsibility to remove inaccurate or unverifiable bad credit marks from your report. There are estimates that 1 in every 4 Americans has a bad credit mark that is inaccurate or unverifiable on the credit report.
In sum, you should dispute any inaccurate or unverifiable bad credit item on your credit. Use a dispute letter to challenge this item and do not just wait 7 years for the item to be removed.
Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more.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 and investigation the credit bureau will contact the lender or collection agency that made the negative mark and verify the debt and its dates and amounts. If the account can not be verified then it must be removed from your report.
Frequently investigations result in bad credit marks being removed from your credit. This is often because businesses do not want to spend the extra money and time validating disputed debts.
There are rumors that credit bureaus do not check public records to verify debt. This means that bad credit marks such as a judgment or foreclosure are often removed through a dispute.
Another option is to hire a service to perform your disputes for you. This can help tremendously especially if you are disputing multiple items.
Frequently dispute letters will result in the credit bureaus requesting more information from you. In addition you must dispute a bad credit item with each credit bureau 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.
It is your responsibility to remove inaccurate or unverifiable bad credit marks from your report. There are estimates that 1 in every 4 Americans has a bad credit mark that is inaccurate or unverifiable on the credit report.
In sum, you should dispute any inaccurate or unverifiable bad credit item on your credit. Use a dispute letter to challenge this item and do not just wait 7 years for the item to be removed.
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posted by Credit Counseling at
8:52 AM
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