You will have to dispute the collection to have the credit bureaus remove it from your credit report. You must file a dispute directly with the bureaus.
You will have to create a dispute letter and send it to each credit bureau. In your letter you have to say what mark you are disputing and give a reason as to why that mark is inaccurate.
You will have to send a copy of this letter to each credit bureau. Upon receipt of your letter the bureaus will conduct an investigation into the dispute.
Often an instigation results in the removal of a bad credit item. This happens because many collection agencies and lenders will not spend the time or money verifying a disputed debt.
If your dispute is verified then having a credit repair service can be very beneficial. They can use advanced dispute techniques to remove a bad credit item. These techniques include; debt validation, escalated dispute information requests, and creditor direct intervention.
What is a collection?
A collection will occur approximately after 6 months of delinquency. It is a lenders last resort to recover payment.
Many lenders have an in house collection agency. In addition it is common for them to outsource their collection efforts or to outright sell your account to an agency.
Collection agencies will either work with lenders or purchase your debt outright. A collection agency is often brought in to collect on delinquent accounts and they are paid a percentage of every dollar recovered.
An important tip to know is that if you get a collection on your credit report and just pay it, the negative mark will not be removed from your credit. Instead it will just change the status of the collection. The mark will remain and it will still be seen as a negative mark by potential lenders.
In sum you can remove collections and bad credit marks on your credit report. You do not have to wait 7 years for the mark to expire. - 15465
You will have to create a dispute letter and send it to each credit bureau. In your letter you have to say what mark you are disputing and give a reason as to why that mark is inaccurate.
You will have to send a copy of this letter to each credit bureau. Upon receipt of your letter the bureaus will conduct an investigation into the dispute.
Often an instigation results in the removal of a bad credit item. This happens because many collection agencies and lenders will not spend the time or money verifying a disputed debt.
If your dispute is verified then having a credit repair service can be very beneficial. They can use advanced dispute techniques to remove a bad credit item. These techniques include; debt validation, escalated dispute information requests, and creditor direct intervention.
What is a collection?
A collection will occur approximately after 6 months of delinquency. It is a lenders last resort to recover payment.
Many lenders have an in house collection agency. In addition it is common for them to outsource their collection efforts or to outright sell your account to an agency.
Collection agencies will either work with lenders or purchase your debt outright. A collection agency is often brought in to collect on delinquent accounts and they are paid a percentage of every dollar recovered.
An important tip to know is that if you get a collection on your credit report and just pay it, the negative mark will not be removed from your credit. Instead it will just change the status of the collection. The mark will remain and it will still be seen as a negative mark by potential lenders.
In sum you can remove collections and bad credit marks on your credit report. You do not have to wait 7 years for the mark to expire. - 15465
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