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Dispute Credit Report

Discussion in 'Credit Repair' started by Moe, Mar 24, 2010.

  1. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    This is from the FTC:

    Correcting Errors

    Under the Fair Credit Reporting Act (FCRA), both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the consumer reporting company and the information provider.

    Step One

    Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one below. Send your letter by certified mail, “return receipt requested,†so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures.

    Consumer reporting companies must investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review the relevant information, and report the results back to the consumer reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.

    When the investigation is complete, the consumer reporting company must
    give you the results in writing and a free copy of your report if the dispute results in a change. This free report does not count as your annual free report. If an item is changed or deleted, the consumer reporting company cannot put the disputed information back in your file unless the information provider verifies that it is accurate and complete. The consumer reporting company also must send you written notice that includes the name, address, and phone number of the information provider.

    If you ask, the consumer reporting company must send notices of any corrections to anyone who received your report in the past six months. You can have a corrected copy of your report sent to anyone who received a copy during the past two years for employment purposes.
    If an investigation doesn’t resolve your dispute with the consumer reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the consumer reporting company to provide your statement to anyone who received a copy of your report in the recent past. You can expect to pay a fee for this service.

    Step Two

    Tell the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if you are correct — that is, if the information is found to be inaccurate — the information provider may not report it again.

    Adding Accounts to Your File

    Your credit file may not reflect all your credit accounts. Although most national department store and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to consumer reporting companies: some local retailers, credit unions, travel, entertainment, and gasoline card companies are among the creditors that don’t.

    If you’ve been told that you were denied credit because of an “insufficient credit file†or “no credit file†and you have accounts with creditors that don’t appear in your credit file, ask the consumer reporting companies to add this information to future reports. Although they are not required to do so, many consumer reporting companies will add verifiable accounts for a fee. However, understand that if these creditors do not report to the consumer reporting company on a regular basis, the added items will not be updated in your file.

    When negative information in your report is accurate, only the passage of time can assure its removal. A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. There is no time limit on reporting: information about criminal convictions; information reported in response to your application for a job that pays more than $75,000 a year; and information reported because you’ve applied for more than $150,000 worth of credit or life insurance. There is a standard method for calculating the seven-year reporting period. Generally, the period runs from the date that the event took place.
  2. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    Re: How to file a dispute with the credit reporting agencies

    Sample Dispute Letter

    Date
    Your Name
    Your Address, City, State, Zip Code

    Complaint Department
    Name of Company
    Address
    City, State, Zip Code

    Dear Sir or Madam:

    I am writing to dispute the following information in my file. I have circled the items I dispute on the attached copy of the report I received.

    This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be removed (or request another specific change) to correct the information.

    Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records and court documents) supporting my position. Please reinvestigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.

    Sincerely,
    Your name
    Enclosures: (List what you are enclosing.)

    SEE MORE CREDIT DISPUTE SAMPLE LETTERS HERE
  3. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    Online Dispute Form for Experian:

    https://www.experian.com/consumer/cac/InvalidateSession.do?code=DISPUTE&channel=8342

    You must have a current copy of your Experian personal credit report in order to use this service. If you have a copy, please enter the report number listed at the top of the report. If you do not have a report number that you received within the last 90 days, order a current copy of your personal credit report.

    Transunion Credit Disputes:

    TransUnion Consumer Solutions
    P.O. Box 2000
    Chester, PA 19022-2000
    Obtain a free, annual TransUnion Credit Report Online
    Phone number: (800) 888-4213

    Equifax:

    Equifax Information Services, LLC
    P.O. Box 740256
    Atlanta,GA 30374
    For disputes by telephone, a telephone number is provided to initiate disputes on your credit report.
  4. iOwnSomeMNTA

    iOwnSomeMNTA LoanSafe Member

    Ask creditors to remove negative information off credit report

    I was going to file chapter 13 due to loss of employment and illness but was able to settle my collection accounts after I got a settlement.
    I fixed my credit report as much as I could. Some of the creditors are no longer on my report but the one's that are report account closed, settled for less than balance. Also, I have a few collection agencies that say the same thing.

    I have till 2016 for the negative information to fall off my credit report.

    Can I write a letter to each creditor/collection agency and ask if they would remove the negative accounts from my report so I can get back with supporting the US economy and do my part in getting the Country back on it's feet as a consumer, buying a car and a home and reasonable credit card payments?

    Thanks!

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