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Tuesday, December 9, 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.

Reasons often include; account is out of date, information is wrong, account paid in full, not my account and many more. The bureaus will conduct an investigation into the mark when they deem your letter valid.

During and investigation the credit bureau will contact the lender or collection agency that made the negative mark and verify the debt and its dates and amounts. If the account can not be verified then it must be removed from your 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.

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.

A credit repair service can also be hired to dispute bad credit marks on your behalf. This can be a tremendous benefit if you are disputing multiple marks.

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.

This means organizing your disputes can become a challenge on its own. Many services can also use advanced dispute techniques in case a bad credit item is verified. These techniques include; creditor direct intervention, escalated dispute information requests, and debt validation.

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.

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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