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Tuesday, December 16, 2008
To dispute an item on your TransUnion credit report you must use the dispute process. This is done by creating and mailing a dispute letter or hiring a service to dispute items on your credit report on your behalf.
You should know that you must file a dispute separately with each credit bureau. Failure to do this and you may remove an item from your TransUnion report, however that item will still be shown on your Experian and Equifax reports.
In a dispute letter the disputed item must be identified and a reason as to why the item is wrong. For example; not my account, account paid, item is out of date, and etcetera.
Once TransUnion receives your dispute they will investigate the item. They will contact the collection agency or lender and verify the account, the dates on the account, and the account balance.
If the account can not be verified then it must be removed from your credit report. Frequently investigations result in the deletion of bad credit.
Should your item be verified a service with lawyers on their staff can use advanced dispute techniques to remove negative items. These techniques include; debt validation, escalated dispute information requests, and creditor direct intervention.
A common concern for people is "Is it legal to dispute my credit?" Yes, the Fair Credit Reporting Act passed by Congress gives you the right to dispute any item on your report that you believe to be inaccurate.
It is a good decision to save all your communication with TransUnion. The credit bureaus have begun to allow people to dispute items on their credit report online, however we do not suggest you do this. We have found that disputing your report online is ineffective.
Be aware that the 100 word statement that you can place on your credit report is never a good thing to fill out. In the past this is where consumers could provide a brief explanation as to why an account became delinquent.
Today if you fill out this statement it will more likely be used by the bureaus. The bureaus use this as verification that the item is accurate and they will deem any dispute letter you send as frivolous and ignore it.
In sum you can dispute and remove bad credit items on your credit report. You do not have to just live with bad credit.
You should know that you must file a dispute separately with each credit bureau. Failure to do this and you may remove an item from your TransUnion report, however that item will still be shown on your Experian and Equifax reports.
In a dispute letter the disputed item must be identified and a reason as to why the item is wrong. For example; not my account, account paid, item is out of date, and etcetera.
Once TransUnion receives your dispute they will investigate the item. They will contact the collection agency or lender and verify the account, the dates on the account, and the account balance.
If the account can not be verified then it must be removed from your credit report. Frequently investigations result in the deletion of bad credit.
Should your item be verified a service with lawyers on their staff can use advanced dispute techniques to remove negative items. These techniques include; debt validation, escalated dispute information requests, and creditor direct intervention.
A common concern for people is "Is it legal to dispute my credit?" Yes, the Fair Credit Reporting Act passed by Congress gives you the right to dispute any item on your report that you believe to be inaccurate.
It is a good decision to save all your communication with TransUnion. The credit bureaus have begun to allow people to dispute items on their credit report online, however we do not suggest you do this. We have found that disputing your report online is ineffective.
Be aware that the 100 word statement that you can place on your credit report is never a good thing to fill out. In the past this is where consumers could provide a brief explanation as to why an account became delinquent.
Today if you fill out this statement it will more likely be used by the bureaus. The bureaus use this as verification that the item is accurate and they will deem any dispute letter you send as frivolous and ignore it.
In sum you can dispute and remove bad credit items on your credit report. You do not have to just live with bad credit.
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For more about how to proceed with a TransUnion Dispute or to learn more about credit repair visit us.
posted by Credit Counseling at
4:23 AM
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