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Tuesday, December 9, 2008
A dispute letter is an individuals' method of challenging a negative mark on their credit report. In this letter a reason for the dispute and what item you are disputing is required.
Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more.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 organizing all your disputes with each credit bureau can be a task itself. Many services can use advanced dispute techniques in case a bad credit item is verified. The techniques include; escalated dispute information requests, debt validation, and creditor direct intervention.
Also services will have attorneys on their staff. This enables you to go to court should it be required and file a lawsuit against a collection agency if you are the victim of illegal 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, dispute any inaccurate or unverifiable bad credit marks on your report. You do not have to wait 7 years for a mark to be removed from your credit.
Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more.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 organizing all your disputes with each credit bureau can be a task itself. Many services can use advanced dispute techniques in case a bad credit item is verified. The techniques include; escalated dispute information requests, debt validation, and creditor direct intervention.
Also services will have attorneys on their staff. This enables you to go to court should it be required and file a lawsuit against a collection agency if you are the victim of illegal 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, dispute any inaccurate or unverifiable bad credit marks on your report. You do not have to wait 7 years for a mark to be removed from your credit.
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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
1:57 PM
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