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 if you send a letter to Equifax and they remove the mark you will also need to send a letter to Transunion or Experian. There is no communication between the three bureaus regarding disputes.
Common reasons to dispute a bad credit item include; information is wrong, item is out of date, account paid in full and more.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.
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 this item is not verified by the creator then the bureaus must remove it from your credit report. Often investigations will result in the removal of an item from your report. This is because many businesses are not willing to spend the resources to verify 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.
Many claim that the bureaus are just avoiding having to hold an investigation so they will deem your dispute invalid and respond with a letter requesting more information about the dispute. It is widely speculated that this is nothing more than a stall tactic used by the bureaus.
This is because it will only cost the bureaus money to investigate disputes. The bureaus customers are businesses and only because of government law is there a dispute process.
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. - 15465
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 if you send a letter to Equifax and they remove the mark you will also need to send a letter to Transunion or Experian. There is no communication between the three bureaus regarding disputes.
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.
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 this item is not verified by the creator then the bureaus must remove it from your credit report. Often investigations will result in the removal of an item from your report. This is because many businesses are not willing to spend the resources to verify 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.
Many claim that the bureaus are just avoiding having to hold an investigation so they will deem your dispute invalid and respond with a letter requesting more information about the dispute. It is widely speculated that this is nothing more than a stall tactic used by the bureaus.
This is because it will only cost the bureaus money to investigate disputes. The bureaus customers are businesses and only because of government law is there a dispute process.
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. - 15465
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For a free sample dispute letter to remove bad credit items on your report or to learn about how you can remove nco collections a common collection agency from your credit visit us.
