How To Dispute Credit Report and Erase Items On Your Credit Report

You want to dispute your credit report and remove information that is not correct or that is hurting your credit score, right? How do you go about doing this? After all is this even legal to remove bad credit?

Is a common misnomer that credit repair is illegal or that if you dispute an item on your credit report that you know is correct you’ll face criminal charges. The truth is Congress has explicitly created and passed laws to protect your right to dispute any item on your credit report.

How Do I File A Dispute

The first thing you need to do is get a copy of all three of your major credit reports. The reason you have to get a copy of each is because often the information contained on your report with each bureau will be different.

A common mistake many consumers make is by just getting one credit report and then sending a dispute letter to all three bureaus based off the information from that one credit report. If you send the dispute for an item that is not contained on that bureaus credit report, you are shooting yourself in the foot. We have heard that credit bureaus will blacklist you and ignore any future dispute attempts you make.

Make sure you dispute the right items with the right credit bureau. In other words only challenge items on your Trans Union credit report with the Trans Union Credit Bureau.

In your dispute letter you need to include your name, your personal information, the item you are disputing, the reason for your dispute, and any supporting evidence you may have. You can file a dispute for many reasons such as: account is older than 7 years, account is paid, account is not mine, the balance is wrong…

Once the credit bureaus get your dispute and deiced it is valid they will conduct an investigation. When they investigate they’ll contact the collection agency or creditor that is reporting the bad debt and ask them to verify it. It is estimated that 3 out of every 4 bureau investigations result in a debt not getting verified, and if this is your result than the item must be removed from your credit report.

However you will probably have some difficulty getting your dispute deemed valid because of a few reasons. The credit bureaus frequently respond to consumer disputes requesting more information, but this is nothing more than a stall tactic.

Who Are The Credit Bureaus?

Many people believe the credit bureaus are a government agency. In fact the credit bureaus are private for-profit businesses that annually generate millions of dollars of revenue. They have public stock just like any corporation or business in America.

This is important because while the credit bureaus collect and record and provide your credit reports to lenders, they are still in the business of generating profits. If you have not connected the dots here, this means that the credit bureaus are going to avoid investigating consumer disputes because that is only an expense of doing business.

The Fair Credit Reporting Act requires the credit bureaus to investigate consumer disputes, however Congress also gave the credit bureaus the power to determine if your dispute is valid or not before they investigate. The reality is credit bureaus are only spending money when they investigate your dispute and because they are in the business or creating profits for their stock holders, they need to keep expenses to a minimum.

All of the major credit bureaus have been fined by the FTC, multiple times for not complying with the Fair Credit Reporting Act and investigating consumer disputes. This is why many individuals claim that credit repair is illegal or impossible. However the smart consumer turns to a professional to clean up their credit because you don’t have to just live with bad credit for 7 long years.

For more about disputing credit report and how you can go about fixing credit from your credit file visit us or call 800-230-1954 for a free credit repair analysis.

Fix My Credit – How To Erase Bad Credit Items On Your Credit Report

If you are wanting to fix your credit score then you need to follow two major steps. The first step is to remove negative listings on your credit report and the second step is to build positive reporting accounts on your report.

How To Erase Bad Credit Items

The Fair Credit Reporting Act is a piece of federal law that gives every citizen the right to dispute any item they feel is incorrect on their credit report. This law is what entitles you to potentially fix credit information and erase bad credit on your credit file.

In order to dispute an item on your credit report you first need to know what information is actually on their and damaging your credit rating. Additionally you need to know you can only file a dispute for items that are on a specific credit bureaus credit report. In other words you can only dispute items that are on your Equifax credit report with the Equifax credit bureau.

You can get a copy of your credit reports from all 3 major bureau, for free once a year. To use this visit annual credit report and you can request your reports there for free. Once you get your reports you need to review them in detail and you’ll probably be surprised at how different each credit report is.

The reason you’ll have different information on each one of your credit reports is because not all lenders or creditors will report to all 3 credit bureaus. A quick tip if you dispute an item that is not reported on that particular bureaus credit report they will blacklist you and ignore any future dispute attempts on your behalf.

For example if you dispute a collection item with Transunion but that collection item is not on your Transunion credit report, then from our understanding Transunion will ignore any disputes you make in the future for any item on your Transunion credit report. You can also hire a professional credit repair firm to perform the credit dispute process on your behalf but it is not required.

Once a credit bureau gets your dispute they are going to investigate the item by contacting the debt collector or lender and asking them to verify the account and the relevant information. If the item is not verified then according to the Fair Credit Reporting Act it must be removed from your credit report.

If you have an item that comes back from a bureau investigation and it is verified this doesn’t mean you have to just live with the bad credit. In fact many collection agencies will settle an account with you and in exchange for your settlement payment they will stop reporting your account information to the credit bureaus and this way you are still able to erase bad credit from your report.

You are going to experience some difficulty getting the credit bureaus to team your dispute valid and investigate it. This unfortunately is the way the credit bureaus operate and it is a result of profit motives. The credit bureaus are spending money when they investigate consumer disputes.

The only reason the credit bureaus do conduct investigations is to comply with the Fair Credit Reporting Act, and even that is debatable. The credit bureaus have been fined time and time again by the FTC for not complying with this law and investigating consumer disputes. If you experience any trouble we strongly encourage you to consider hiring a specialist because you don’t have to just live with a bad credit report.

Positive Reporting Accounts

You can build positive items on your credit report by paying your current monthly bills on time and you may benefit from opening a new credit line. A new credit line as a unsecured credit card, or installment loan with responsible use will help you build positive items on your credit.

For more about how to fix my credit and how you can erase bad credit items on your credit report call 1-800-298-4297 for a free credit report summary and analysis or visit us.

THE FASTEST WAY TO GET ITEMS DELETED FROM YOUR CREDIT REPORT

< things kind=" application/x-shockwave-flash" style=" size:425 px; height:355 px;" information="// www.youtube.com/v/E52dOqpHxq4?color2=FBE9EC&version=3&modestbranding=1" >< param name=" motion picture" worth="// www.youtube.com/v/E52dOqpHxq4?color2=FBE9EC&version=3&modestbranding=1"/ >< param name=" allowFullScreen" worth=" real"/ >< param name =" allowscriptaccess" worth=" constantly "/ > get those items gone! Cash Issues playlist https://www.youtube.com/playlist?list=PLb_LoU8omIUd5uogd756Rv1fcgX3TYpun https://www.annualcreditreport.com/index.action FREE DISCLOSURES WHEN EACH YEAR FOR ALL 3 BUREAUS http://www.experian.com/ http://www.experian.com/reportaccess FREE AND DISCOUNTED DISCLOSURES http://www.transunion.com/ https://disclosure.transunion.com/dc/disclosure/disclosure.jsp FREE AND DISCOUNTED DISCLOSURES http://www.transunion.com/credit-disputes/dispute-your-credit DISAGREEMENT http://equifax.com/ https://aa.econsumer.equifax.com/aad/landing.ehtml FREE AND ALSO DISCOUNTED DISCLOSURES Video clip Rating:/ 5

< item kind="application/x-shockwave-flash" design="width:425 px; height:355 px;" data ="// www.youtube.com/v/04YfcIHLGJM?color2=FBE9EC&version=3&modestbranding=1" >< param name="movie" value ="// www.youtube.com/v/04YfcIHLGJM?color2=FBE9EC&version=3&modestbranding=1"/ >< param name="allowFullScreen" worth="true"/ >< param name="allowscriptaccess" worth="constantly"/ > During this program we provide you pointers on ways to challenge collection accounts, as well as how/when to pay collection accounts. We likewise discuss trainee financings, and also bank card.
Video Score:/ 5