How To Repair Your Own Credit Report – Part 3
5. Start your disputes. Since I’m sure you did your homework in part 2 of this series ;-) you should have a basic grasp on how to dispute items on your credit reports. Refer back to the articles listed in step 4 as needed.
Here are some sample letters you might find useful:
debt validation sample letter-for listings placed on your report by third-party debt collectors
nutcase letter-for fully paid derogatory accounts
HIPAA dispute letter series-for fully paid medical collections
pay for delete agreements-for valid, outstanding derogatory debt listings
6. Get organized. Create a file to keep copies of all correspondence between you and the credit bureaus, creditors, collection agencies, etc. Keep all your certified mail return receipts paper-clipped to their corresponding documents. I don’t recommend you communicate over the phone during the course of your credit repair efforts, but if you must, at least keep documentation of all your telephone conversations in your file.
7. Wait for the results of your disputes and follow up as needed. Unfortunately, not every dispute will be successful the first time around. But persistence often pays off!
Whenever a disputed item comes back from a credit bureau as “verified”, you should write them and ask for the contact information of whoever verified the item. Once you receive it, write to the creditor/collector/courthouse and ask them how they verified the listing with the credit bureau. What documentation do they have that proves the accuracy of the disputed item? Frequently, they won’t be able to comply with your request and will be forced to delete the item from your credit reports.
Sometimes the credit bureaus will not be able to verify a disputed listing within the 30-day timeframe required by the FCRA, and they will temporarily delete the item from your report and reinsert the item once it is verified later. This is legal assuming the item was verified properly and provided the credit bureau notifies you in writing that the item is being reinserted.
Also keep in mind that you can dispute the same accounts again at a later time, as long as your disputes are not exactly the same as the ones you’ve submitted previously. Remember, there are many possible disputes; you can dispute an account in its entirety, or you can dispute one or more of the details of the account listing, such as the date of last activity, the credit limit, the high balance, etc. I recommend waiting at least 2 or 3 months in between disputes for the same account, otherwise the credit bureau may choose to treat your dispute as frivolous (meaning they will ignore it).
Just continue repeating this step until you’re satisfied with your credit reports.
I hope you found this series of articles on how to repair your own credit report helpful; if you have any questions please feel free to leave a comment!
Related posts:
- How To Repair Your Own Credit Report – Part 1
- How To Remove Public Records From Your Credit Report
- How to Dispute a Listing on Your Credit Report
- How To Repair Your Own Credit Report – Part 2
- Medical Debts Listed on Your Credit Report
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