Dispute Equifax
To dispute a bad credit item on your Equifax credit report you must send a dispute letter. In your letter you must include the disputed item and why it is incorrect.
There are two options to do this; you can do it yourself or hire a credit repair service to do it on your behalf. However be aware if you do it yourself that you must send a letter to each credit bureau.
This means that simply disputing an item with Equifax will not remove the item from your Transunion or Experian credit report. Instead you will have to send each of the bureaus a dispute letter.
Reasons to dispute a listing are; item is out of date, information is wrong, not my account, account paid in full, and more. The Fair Credit Reporting Act says that you have the right to dispute any mark on your credit report.
In addition the act says the bureaus must remove an item if it is not verified by the creator. This act is what the dispute process is based upon.
Upon receipt of your dispute letter the bureaus will investigate. During the investigation they will ask the creator of the listing to verify the account, the dates on the account, and the account 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 credit bureau will conduct an investigation your dispute must be a valid dispute. There is no way to tell if the bureaus will deem your letter valid or invalid.
Often a dispute letter will be answered with a letter from the bureau asking for more information about the dispute. Many credit repair experts claim that this is nothing more than a stall tactic used to avoid the investigation.
This is because there is no money to be earned from the dispute process. It however will cost the bureaus time and money to investigate.
I suggest hiring a service if you have considerable damage to your credit. However if you only have minor damage such as one or two negative listings then you can dispute your report yourself. If you do it yourself just be patient and persistent.
In sum you can remove bad credit items without waiting 7 years. To do this you must dispute the credit bureaus.
There are two options to do this; you can do it yourself or hire a credit repair service to do it on your behalf. However be aware if you do it yourself that you must send a letter to each credit bureau.
This means that simply disputing an item with Equifax will not remove the item from your Transunion or Experian credit report. Instead you will have to send each of the bureaus a dispute letter.
Reasons to dispute a listing are; item is out of date, information is wrong, not my account, account paid in full, and more. The Fair Credit Reporting Act says that you have the right to dispute any mark on your credit report.
In addition the act says the bureaus must remove an item if it is not verified by the creator. This act is what the dispute process is based upon.
Upon receipt of your dispute letter the bureaus will investigate. During the investigation they will ask the creator of the listing to verify the account, the dates on the account, and the account 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 credit bureau will conduct an investigation your dispute must be a valid dispute. There is no way to tell if the bureaus will deem your letter valid or invalid.
Often a dispute letter will be answered with a letter from the bureau asking for more information about the dispute. Many credit repair experts claim that this is nothing more than a stall tactic used to avoid the investigation.
This is because there is no money to be earned from the dispute process. It however will cost the bureaus time and money to investigate.
I suggest hiring a service if you have considerable damage to your credit. However if you only have minor damage such as one or two negative listings then you can dispute your report yourself. If you do it yourself just be patient and persistent.
In sum you can remove bad credit items without waiting 7 years. To do this you must dispute the credit bureaus.
About the Author:
For a free sample dispute letter to remove bad credit items on your report or to learn how you can remove negative marks such as a charge off visit us.
posted by Debt Consolidation Loan at
8:17 AM
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