Dispute Credit Letter – Remove Bad Credit On Your Credit Report

December 3rd, 2008

by Justin Hutto

A dispute letter is an individuals’ method of challenging a negative mark on their credit report. In this letter a reason for the dispute and what item you are disputing is required.

Common reasons for a dispute are; account is not mine, account paid in full, item is out of date and more. When the credit bureaus receive your dispute and deem it valid they will investigate the dispute.

The bureaus will contact the lender or collection agency and verify the account, the dates and the amount of the debt. If the account can not be verified then the bureaus must remove the item from your credit report.

Typically investigations will result in the removal of a bad credit item. This happens because many businesses are just unwilling to spend the resources to verify disputed accounts.

It is rumored that during an investigation public records are not checked. This means that there is a high rate of success in disputing judgments and foreclosures.

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.

Often dispute letters will result in a return letter from the bureaus requesting more information about the dispute. In addition each bureau needs to be disputed separately.

Thus organizing all your disputes with each credit bureau can be a task itself. Many services can use advanced dispute techniques in case a bad credit item is verified. The techniques include; escalated dispute information requests, debt validation, and creditor direct intervention.

Also services will have attorneys on their staff. This enables you to go to court should it be required and file a lawsuit against a collection agency if you are the victim of illegal 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 if you have unverifiable or inaccurate information on your credit report you should use a dispute letter to challenge it. You can remove bad credit without waiting 7 years.

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You can also learn how to remove palisades collection or midland credit management both of these are common collection agencies.

Tags: Business, Business and finance, consumer, Credit, credit advice, credit counseling, credit tips, debt advice, Debt Consolidation, Debt tips, education, Finance, how to, law, Legal, money, Personal Finance
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