Dispute Credit Letter – Remove Bad Credit On Your Credit Report
A dispute letter is how you can challenge the accuracy or validity of a bad credit item on your report. In your letter you must include the reason for the dispute and what item is being disputed.
Common reasons for a dispute are; account is not mine, account paid in full, item is out of date and more. When the credit bureaus receive your dispute and deem it valid they will investigate the dispute.
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.
It is rumored that during an investigation public records are not checked. This means that there is a high rate of success in disputing judgments and foreclosures.
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.
Many services will employ attorneys this will enable you to go to court if it is necessary. In addition you may be a victim of illegal debt collection practices and may be able to file a lawsuit against a collection agency.
Credit repair is your responsibility. Unfortunately it is very common for inaccurate information to be reported on your credit report. It is estimated that 1 in every 4 Americans have inaccurate items on their 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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