Home & Mortgage
So, you?ve decided you want to try and repair your credit on your own and dispute letters will be your weapon of choice. I?m going to explain the proper way to send dispute letters to give you the best possible chance of getting negative items removed from your credit report.
Once, you?ve compiled a list of all the negative information on your credit report you want to prioritize them in order of most damaging first. Start with your personal information e.g. names, social, addresses and employers.
Often time?s debts are ?connected? to your address. Dispute any of the above personal information that is not current. The goal is to have it completely removed, not adjusted.
You want to dispute the most negative item first and you must give an outcome you would like. For example, this account is not mine, please remove it from my credit report. If you don?t give an acceptable outcome, they could adjust an account when you really wanted it removed and visa versa.
Additionally, you want to use verbiage that is convincing to the bureaus that you?re not using a credit repair agency. In other words, write it like a surprised and pissed off consumer. If it?s a perfectly formatted letter and they recognize it, you?ll probably get the ?frivolous? comment and no changes.
I?ve written letters that say things like ?what the hell is this on my report? Please get this trash off of here immediately.?
Sounds stupid, but its something an angry consumer is likely to write and it?s worked many many times.
Once you?ve sent your letters, it?s very likely you?ll get a response back within a week or two asking for more information ? namely ?what credit repair company you?re using? This is a stall tactic, do not answer them. They do this because if they receive new information, they are allowed another 15 days to investigate.
If your credit reports come back verified, no change, don?t panic. You can re-dispute the item only for different reasons. If you sent the first one stating ?not Yours?, then next letter can take the angle of ?wrong account number? or wrong balance. This gives them something new they must look into and a greater chance of the creditor not verifying it.
If you?ve tried all of this, you still have recourse. You can request method of verification. How did they verify the information, who did they talk to? You want to ask them the business name, address and telephone number of the furnisher of the information. That is your legal right to request that information and a very powerful tool in credit repair.
This works because credit bureaus verify your information via a computer system and a two digit code. When you ask for names and numbers, this is often a big problem for the credit bureaus.
Once you begin seeing items removed, repeat steps above until your persistence pays off.
Marc Chase of My Credit Group Inc. ? A nationally recognized authority on credit repair and informational resource teaching people how to improve their credit scores legally and effectively and authors of ?The official guide to credit repair & credit repair companies?
Visit My Credit Group at http://www.mycreditgroup.com
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