There are a few basic things you need to know about credit before
you even consider trying to dispute information on your report. In this
article we will discuss essential pieces to credit repair, and tips on
how to get started.
First, it is important to know that credit
reporting agencies are private companies and are not affiliated with any
government agencies. They are however, monitored by several laws and
regulations. This is the key to getting results.
There are 3 major
credit reporting agencies that 95% of all creditors in America use to
determine your credit worthiness they are, Trans Union, Equifax, and
Experian. These agencies are required to provide you with a copy of your
free credit report annually, and also if you are denied credit for any
reason by a lender. Getting a copy of your credit report is the first
step in the road to credit repair.
First step in the process is to
determine what negative credit is appearing on your reports. It is
important to look at all 3 reports as they do not always have the same
information. In most cases they usually do not. It is a misconception
that you can only dispute info that you know to be inaccurate. The key
is to dispute all negative info on all 3 reports, and be diligent in
your efforts. This step will ensure you get the best results possible.
Once
you have determined what negative information is on each report, you
need to write a list of all the negative accounts. This must include
account numbers, creditors names, address of the creditors and the date
the account was opened and date of negative reporting's. It is essential
the information is accurate, or this could result in a" frivolous
dispute ". That would damage your dispute efforts as this will effect
any disputes you do in the future.
Next step is to submit disputes
to all 3 reporting agencies. There is 3 ways we have found are proven
to get the best results. They are a combination of registered mail
disputes, Federal Express Disputes (preferably signed by your attorney),
and lastly online disputes. It is important to do all 3 to get the best
results. A another trick is to try to be sure all 3 show up on the same
day if possible, or on the weekend. This will trip up the system, and
sometimes result in the agent assuming they are a duplicate. This is one
way we have removed thousands of negative accounts because the
reporting agency has to reply to all disputes. If they do not respond,
the negative credit information has to be removed according to the FCRA
(Fair Credit Reporting Act). This is the agency that governs the
reporting all credit bureaus. They are your friend.
Once you have
submitted all disputes to the 3 reporting agencies, they are required to
investigate and get proof from the original creditors of the negative
items in question. This all has to happen within 30 days from the date
the reporting agency receives your disputes. If the creditor does not
reply with this proof the information also has to be removed from your
credit report. And if they do respond they are required to give proof of
the negative item, and you are entitled to have a copy of this
information
It is important to also know that all these disputes
have to be timed just right to get optimal results. I have been fighting
reporting agencies and creditors for over 18 years. Over the years I
have put together a proven process to get guaranteed results. These are a
few of the tricks we use, I hope they are helpful in your quest for
great credit.
