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Wednesday, December 3, 2008

Dispute Credit Letter - Remove Bad Credit On Your Credit Report

By Justin Hutto

A dispute letter is your method of challenging the accuracy or validity of a bad credit mark on your report. In your letter you need to include the reason for your dispute and the mark that you are disputing.

Common reasons for a dispute are; account is not mine, account paid in full, item is out of date and more.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.

Frequently investigations result in bad credit marks being removed from your credit. This is often because businesses do not want to spend the extra money and time validating disputed debts.

There are rumors that credit bureaus do not check public records to verify debt. This means that bad credit marks such as a judgment or foreclosure are often removed through a dispute.

Another option is to hire a service to perform your disputes for you. This can help tremendously especially if you are disputing multiple items.

Frequently dispute letters will result in the credit bureaus requesting more information from you. In addition you must dispute a bad credit item with each credit bureau separately.

Thus the organization during your credit repair can become a challenge on its own. Also credit services can use advanced dispute techniques such as; creditor direct intervention, debt validation and escalated dispute information requests to remove a bad credit item.

Frequently these services will have lawyers on their staff which will enable you to go to court if it is required. Also with a service you may be eligible to file a lawsuit against a collection agency for illegal debt collection practices.

Credit repair is not only your right it is your responsibility. There are estimates that 1 in every 4 people have inaccurate information on their credit report.

In sum, dispute any inaccurate or unverifiable bad credit marks on your report. You do not have to wait 7 years for a mark to be removed from your credit.

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