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Saturday, November 22, 2008
A dispute letter is your method of challenging the accuracy or validity of a bad credit mark on your report. In your letter you need to include the reason for your dispute and the mark that you are disputing.
Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more. The bureaus will conduct an investigation into the mark when they deem your letter valid.
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.
A credit repair service can also be hired to dispute bad credit marks on your behalf. This can be a tremendous benefit if you are disputing multiple marks.
Frequently dispute letters will result in the credit bureaus requesting more information from you. In addition you must dispute a bad credit item with each credit bureau separately.
Thus the organization during your credit repair can become a challenge on its own. Also credit services can use advanced dispute techniques such as; creditor direct intervention, debt validation and escalated dispute information requests to remove a bad credit item.
Frequently these services will have lawyers on their staff which will enable you to go to court if it is required. Also with a service you may be eligible to file a lawsuit against a collection agency for illegal debt collection practices.
Credit repair is not only your right it is your responsibility. There are estimates that 1 in every 4 people have inaccurate information on their credit 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.
Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more. The bureaus will conduct an investigation into the mark when they deem your letter valid.
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.
A credit repair service can also be hired to dispute bad credit marks on your behalf. This can be a tremendous benefit if you are disputing multiple marks.
Frequently dispute letters will result in the credit bureaus requesting more information from you. In addition you must dispute a bad credit item with each credit bureau separately.
Thus the organization during your credit repair can become a challenge on its own. Also credit services can use advanced dispute techniques such as; creditor direct intervention, debt validation and escalated dispute information requests to remove a bad credit item.
Frequently these services will have lawyers on their staff which will enable you to go to court if it is required. Also with a service you may be eligible to file a lawsuit against a collection agency for illegal debt collection practices.
Credit repair is not only your right it is your responsibility. There are estimates that 1 in every 4 people have inaccurate information on their credit 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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For a free credit repair letter to dispute bad credit on your report or to read a review of lexington law a suggested credit repair service visit us.
posted by Credit Counseling at
8:43 AM
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