Credit Dispute Letter – Remove Bad Credit
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.
Frequently dispute reasons are; item is out of date, account is paid in full, not my account, information is wrong and more. Upon receipt of a valid dispute letter the bureaus will investigate the item.
During this investigation the collection agency or lender is contacted and the account is verified and the dates and amounts. If the account can not be verified then it will be removed from your credit report.
An investigation often results in a negative mark being removed. This is because many businesses will not spend the time and money to verify a disputed item.
There are rumors that credit bureaus do not check public records to verify debt. This means that bad credit marks such as a judgment or foreclosure are often removed through a dispute.
You can also hire a credit repair service to dispute your credit report for you. This can be very helpful if you are disputing multiple bad credit items on your report.
It is common for a dispute letter to result in the bureaus sending you a letter requesting more information about the dispute. In addition each credit bureau needs to be disputed 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.
It is your responsibility to remove inaccurate or unverifiable bad credit marks from your report. There are estimates that 1 in every 4 Americans has a bad credit mark that is inaccurate or unverifiable on the 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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