When trying to conduct a credit dispute, there are a few steps you must take before starting the credit repair process. Please understand that restoring your credit takes time and patience. It can be frustrating at times, but it's possible to start rebuilding your financial life. Get a free copy of your credit report from annualcreditreport.com. Once you get your report, review it for accounts that are incorrect, not yours and misleading. After scanning your report, write out your credit dispute by hand or by using a word program. Ask the credit bureau to remove the negative information because it's incorrect. The credit bureau will send you an updated report indicating the item as being deleted or no change. If this happens and the item is not yours, you can apply the following three techniques to try to get the misleading account off of your report.
Step one to a credit dispute one:
Make the creditor prove that it's your debt
Challenge the debt with the creditor by calling them up and asking for proof that you owe the debt. Proof meaning a copy of the original credit application or loan application with your signature. Moreover, ask them for your payment history showing that you were late on that particular day. If the creditor can't prove the adverse information reported, then they must delete it according to the FCRA. Give them 17 days to respond to your letter. If they do not provide a response, contact the attorney general's office in the creditor's state. You want to let them know that the creditor is reporting negative information on your credit report when they can't provide you with evidence. This is a violation of Federal law and is grounds for a lawsuit.
Let them know that you have grounds to sue them for $5,000 per disputed item they refuse to investigate. Once you have informed them, you can then repeat your dispute. By sending this letter to their legal department, you are more than likely to get a response.
Step one to a credit dispute two:
Go straight to their legal department
Address a letter to their legal department asking them why they have updated some inaccurate accounts but not others. Also, request a copy of the completed verification form used and the contract information from the creditor who responded to the verification. You also want the creditor's name, title, and phone number, and a copy of the documents relied on as evidence of the debt.
Step one to a credit dispute three:
Advise an attorney
If necessary, let them know that you have contacted a lawyer and are considering a lawsuit for willful noncompliance (FCRA-616). This option should be considered once you have explored several of the previously listed alternatives. In the event that you file a lawsuit, you will need to have thorough documentation of your attempts to contact the bureau, dispute each negative mark, and explain your situation. Be sure to keep copies of each letter for your own records and orderliness as well.
As you can see repairing your credit takes skill and education. You must know how the system works in order to get results from a credit dispute. I have personally used these strategies to get negative incorrect information of my client's credit files. You can improve your credit picture if you take action.
