Disputing an error on your credit report is not difficult. In fact, there is no reason for you to pay anyone as you can DIY! Here's how:
Recently, I read an newspaper article from the Oregonian by Liz Pulliam Weston from "Money Talk" that was very good and I highly recommend that you check out her site!
In this article, she outlines how many (not all) so-called "Credit Repair Companies" that practice fraudulent tactics, such as:
- Flooding the credit bureaus with many disputes trying to get some legitimate accounts removed temporarily.
- Using borrowed or stolen identification in order to start a new credit history.
Both of these tactics are illegal and you could find yourself in real trouble!
The good news is that you do not have to pay someone to help you with errors on your credit report, you can Do It Yourself:
There are three major Credit Reporting Bureaus:
- Equifax
- Experian
- TransUnion
Each one offers instructions how to open a dispute about items on your credit report that are being reported in error.
I'll give you the links to each later, but before going online (BTW, this is the best way, in my opinion to open a dispute), you need to be prepared.
It is very important that you understand and keep in mind that these bureaus receive hundreds, if not thousands of "disputes" daily and what you want to do is to make it as easy as possible for the agent who is looking into your dispute to correct it!
Start by making a copy of just the page from your credit report that contains the error.
Please don't attach and/or send the entire report!
CIRCLE the error on the report page.
Make a .pdf copy.
Next, Write a short, legible (better if you use word process) statement, explaining why you are making the dispute.
Here's an example:
John Doe
123 Street
City, State Zip
Social Security # (they have it anyway) xxx-xx-xxxx
I am opening this dispute to correct an error on my report. I've included the page showing the error along with proof that it should be removed.
In my state, the statute of limitations says that an item cannot be collectable if more than 6 years has passed since the last payment.
In my case, it has been almost 7 years and I am requesting that it be removed and that you send me a copy of my revised credit report.
Thank you,
_____________________________________ (sign here)
John Doe
Phone: 555-555-5555
Email: JDoe@ internet.com
Make a copy of the letter and save in .pdf format.
Now you are ready to go online to open the dispute:
Here are the links (just click on the name) to the top three credit reporting bureaus:
Again, I highly recommend using the "online dispute" process rather than mail or phone. It has proven to be the most expedient method.
FINALLY...
Just because you have gone online and opened the dispute, you can't forget about it and/or trust that they will do what you have requested.
You will get a file number you can use to periodically go back online to check the status of your dispute.
They should correct and/or contact you for additional information or possibly explain why they are denying your dispute within 30-45 days, so, FOLLOW UP, FOLLOW UP.....
You may discover that there are some older debts that are being reported that the creditor or debt collector was granted a judgment.
Judgments can stay on a credit report for up to 7 years and can be renewed by the creditor for even longer.
We can help arranged a settlement to have this account listed as "paid as agreed" which will help improve your credit score.
