Secrets To Dispute Credit Report Items That Are Incorrect, Obselete and
Wrong!
How to Dispute Credit Report Remarks And Get The Credit You Are Suppose To Have
It's a good thing that under the Fair Credit Reporting Act (FCRA), consumers have the right to dispute credit report remarks. What? You
didn't know that you have consumer credit rights?
You certainly do and if you "reasonably believe" that your credit report to be inaccurate or incomplete, you can dispute credit report
items.
This act requires the credit agencies to reinvestigate those disputed items within a "reasonable period of time" which is interpreted by the
Federal Trade Commission as thirty (30) days. If they find that the information was incorrect, obsolete or can no longer by verified, the
information must be deleted or corrected.
If you were recently denied credit within the past 60 days you can receive a free credit report from the credit bureau that denied you. With
the information that you review on your report, you can now dispute the credit agencies with an investigation of the incorrect or inaccurate
reporting.
Dispute Credit Report Remarks Is Not That Difficult
With your credit report review the items you believe to be inaccurate, incomplete or obsolete. As an example, you see that your report is
showing a $900 balance on your Master Card account; your account is in collections but you know your balance is only $800 and can show proof.
This is inaccurate, now you have the right to dispute the whole account.
Get Organized!
First get file folders started for any account you plan to dispute. For this example, if it is a Master Card you are disputing, fill out a
dispute form that was sent with your credit report. List items you are disputing by names of the creditor, account numbers. Briefly describe why
you believe the item is incorrect, ie. the account was paid in full, the balance is incorrect or the number of late payments is incorrect, etc.
Along with the dispute letter; send a copy of your credit report with a highlight showing the account in disputed.
Keep Good Records in Your File
Date the dispute packet that you sent off to the credit report agency.
Follow Up
You credit bureau will notify you from their reinvestigation and send you a copy of your updated report. Besure to keep all your
correspondence in your file folder that you have created. Have all copies of your report, letters and any supporting documents that you sent
along with your request. Remeber your goal is to eliminate debts and fix your credit report. Keep a telephone log of your communication noting
the date and time of your call, the name of the person who you talked with and the nature of the conversation. The responce can take up to six
weeks to get a reply. In this case, do not hesitate and wait any longer than that period of time especially if you need to make changes on your
credit
report quickly. It's been known that credit agencies tend to drag their feet or put off reviewing your case.
Follow Up Your Follow Up
If your feel that you are being neglected in the process of reinvestigating your disputed accounts you can send them a a final dispute letter
demanding action. At this time you will threaten them to take legal action. Let them know that you will send copies of your original request to
the Federal Trade Commission and to your local office of the attorney general.
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Curt de la Cruz is a free lance writer and is a professional in the mortgage industry. Visit his website at 101-credit-debt-finance.com
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