The Fair Credit Reporting Act gives you the right to dispute inaccurate and incomplete information on your credit report.
You will need to examine your credit report from each of the three major credit bureaus, TransUnion, Equifax, and Experian. You can request a copy of your credit report from each agency directly or visit annualcreditreport.com. Determine which negative items you will dispute. Once you’ve reviewed your credit report, it’s time to file your disputes.
The easiest way to dispute inaccurate information on your credit report is online. Credit reporting agencies should have a link for you to submit your dispute. Typically within 45 days, you will receive a response via email or written letter notifying you of any negative items that have been removed or items verified to be correct.
If some negative items were not removed and you disagree with their determination, you will need to take some additional steps if you want your dispute reconsidered. You will need to call the credit reporting agency and ask the representative what the verification method was.
If the representative tells you that they used a third-party verification service or verified the information through the original creditor, ask for the name and phone number of the person or company that provided the information.
Contact the third-party verification service or creditor and request physical verification of your account. Most likely they will not be able to produce such proof because many times the records are turned over to the collection agency.
Always ask for the name of the person you are speaking with, their direct phone number or extension, the name of their supervisor, and the supervisor’s direct phone number and extension. KEEP GOOD DOCUMENTATION.
If the creditor sends you proof, review the documentation carefully. If the records are inconclusive, contact the credit reporting agency and explain that the creditor has no records available. Ask the credit reporting agency to open a new credit dispute file. Give them the name and phone number of the person you spoke with.
They will give you a new investigation number. Again, you must KEEP GOOD DOCUMENTATION.
Allow the credit reporting agency to contact you about your new dispute in another 30 days. If the credit reporting agency refuses to cooperate, you’re going to have to get tough.
Inform them that you will sue them for willful default under the Fair Credit Reporting Act. If they continue to refuse, send your return receipt requested by certified mail along with a letter of intent to sue.
If you have written proof that the negative item is invalid, submit the documentation to the credit reporting agency and demand that the negative item be removed immediately. Be sure to send this application with return receipt by certified mail. Credit reporting agencies and creditors can be very stubborn. Some believe they can use their huge corporate size to bully and push consumers.
If you find yourself in such a situation, we recommend that you hire a reputable credit repair company. You have the right to dispute negative items on your credit report. Don’t be intimidated.
