Dispute Equifax
A dispute can be filed with Equifax by creating a dispute letter and mailing it to them. In your letter you will need to include a reason as to why the listing is inaccurate.
You can write a dispute letter yourself or you can hire a service to write it on your behalf. You should be aware that a dispute letter must be sent to each credit bureau.
This means if you have a charge off on your Equifax credit report then you will have to send a dispute letter to Equifax. In addition if that charge off is on your Experian and Transunion credit report you will have to send a dispute letter to them also.
Common reasons to dispute a bad credit item include; information is wrong, item is out of date, account paid in full and more. The Fair Credit Reporting Act passed by congress gives you the right to dispute any item on your credit report.
In addition this act says the bureaus must remove a listing from your report if it can not be verified. This act is what the dispute process is based upon.
When the bureaus receive your dispute they will investigate. During this investigation they will contact the creator of the item and request verification of the account, the dates, and the balance.
If the mark can not be verified then it is removed from your credit report. Often an investigation results in the removal of bad credit. This is a result of many businesses being unwilling to spend the time and money verifying disputed debts.
However before the bureau will investigate your dispute they must say it is valid. There is no clear cut definition of what a valid dispute is.
It is common for bureaus to respond to a dispute letter with another letter that requests more information about the dispute. This is said to be a stall tactic the bureaus use to avoid conducing and investigation.
It only costs the bureaus money to conduct an investigation. There is no revenue in it for the bureaus, their customers are businesses.
I suggest you hire a service if you have multiple items you wish to dispute on your credit. If you have only minor damage on your report then you can do it yourself, just remember to be persistent and have some patience.
In sum you can remove bad credit items without waiting 7 years. To do this you must dispute the credit bureaus.
You can write a dispute letter yourself or you can hire a service to write it on your behalf. You should be aware that a dispute letter must be sent to each credit bureau.
This means if you have a charge off on your Equifax credit report then you will have to send a dispute letter to Equifax. In addition if that charge off is on your Experian and Transunion credit report you will have to send a dispute letter to them also.
Common reasons to dispute a bad credit item include; information is wrong, item is out of date, account paid in full and more. The Fair Credit Reporting Act passed by congress gives you the right to dispute any item on your credit report.
In addition this act says the bureaus must remove a listing from your report if it can not be verified. This act is what the dispute process is based upon.
When the bureaus receive your dispute they will investigate. During this investigation they will contact the creator of the item and request verification of the account, the dates, and the balance.
If the mark can not be verified then it is removed from your credit report. Often an investigation results in the removal of bad credit. This is a result of many businesses being unwilling to spend the time and money verifying disputed debts.
However before the bureau will investigate your dispute they must say it is valid. There is no clear cut definition of what a valid dispute is.
It is common for bureaus to respond to a dispute letter with another letter that requests more information about the dispute. This is said to be a stall tactic the bureaus use to avoid conducing and investigation.
It only costs the bureaus money to conduct an investigation. There is no revenue in it for the bureaus, their customers are businesses.
I suggest you hire a service if you have multiple items you wish to dispute on your credit. If you have only minor damage on your report then you can do it yourself, just remember to be persistent and have some patience.
In sum you can remove bad credit items without waiting 7 years. To do this you must dispute the credit bureaus.
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posted by Debt Consolidation Loan at
1:23 PM
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