Disputing your credit report is a very time-consuming process, but with knowledge, and education, you can get outdated, incorrect, and unverifiable information off of your credit report. First, you must write the credit bureau asking them to remove the damaging information on your report. The credit bureau will start an investigation and send you an updated credit report within 30 days indicating the changes if any. They will say one of the following:
- The item has been verified and no change has been made.
- Steps to take after verification
- They consider the dispute frivolous.
If your disputed items come back verified, draft a new dispute letter and use one of the following techniques to prompt a new investigation:
Steps to repairing your credit part one
Verification method:
Ask the credit bureau for their method of verification using a standard dispute letter. Once you have been informed of the reasoning behind their rejection, you may develop a more fully formed picture of your credit history. With this new information, you can then repeat your complaint while bringing up different reasons for your dispute.
Steps to repairing your credit part two
Wait period:
Wait 60 days and try again raising a different reason for your dispute. You can also change the tone of your letter by re-verbalizing and highlighting how the dispute has been the most damaging to you. Use phrases like "I have been terribly stressed," and "I am very worried about my credit worthiness being damaged" due to their failure to investigate your disputes.
Steps to repairing your credit part three
Send Proof:
Send another dispute letter providing proof and sufficient documentation regarding why the negative mark should be removed. Write, with clarity and detail, explaining why the negative items are incorrect. This may especially be helpful if you have received a response asking for more information to continue the investigation.
Steps to repairing your credit part four
Dispute the E-Oscar method:
With the Oscar system, the credit bureaus take your dispute and convert it into a two to three digit code. These codes can represent actions like "item not mine" or "item incorrect." The credit bureau then sends these codes to the creditor through the computer automated Oscar system for verification. The creditor will respond back with a code stating whether or not the item is correct.
Aside from disputing the negative item itself, you may also have to write to the credit bureaus disputing their use of the Oscar method. They are required to follow FCRA guidelines, and not the Oscar method, when verifying the accuracy of a disputed item.
Steps to repairing your credit part five
Attach copies of other credit reports:
Advise the credit bureau that two of your credit reports from the other credit bureaus do not reflect this negative account, but on the disputed report, the negative item is still there. After you explain yourself, repeat your dispute and attach copies of the other two credit reports as proof.
As you can see there are many steps to repairing your credit. You just have to follow the techniques as stated. Credit repair takes time so be patient and take action if you want to see results.
