You can dispute a bad credit listing on your Equifax credit report by creating a dispute letter. In your letter you must identify the disputed listing and provide an explanation as to why it is incorrect.
This letter can be created by you or you can hire a credit repair service to do it on your behalf. If you choose to do it yourself realize you have to dispute the item with each credit bureau.
This means that simply disputing an item with Equifax will not remove the item from your Transunion or Experian credit report. Instead you will have to send each of the bureaus a dispute letter.
Reasons for a dispute include; information is wrong, item out of date, account paid in full, not my account and others. The Fair Credit Reporting Act that was passed by congress gives you the right to dispute any listing on your credit that you feel is inaccurate.
In addition the act says the bureaus must remove an item if it is not verified by the creator. This act is what the dispute process is based upon.
Upon receipt of your dispute letter the bureaus will investigate. During the investigation they will ask the creator of the listing to verify the account, the dates on the account, and the account balance.
In the item is not verified then the bureau must remove it from your credit report. Frequently investigations will result in the removal of bad credit from your report. This happens because many businesses are not willing to spend the resources to verify disputed debts.
However before the credit bureau will conduct an investigation your dispute must be a valid dispute. There is no way to tell if the bureaus will deem your letter valid or invalid.
It is common for bureaus to respond to a dispute letter with another letter that requests more information about the dispute. This is said to be a stall tactic the bureaus use to avoid conducing and investigation.
This is because it will only cost the bureaus money to investigate disputes. The bureaus customers are businesses and only because of government law is there a dispute process.
I suggest hiring a service if you have considerable damage to your credit. However if you only have minor damage such as one or two negative listings then you can dispute your report yourself. If you do it yourself just be patient and persistent.
In sum you do not have to wait seven years for a bad credit item to be removed from your credit. You can dispute the listing and have it removed immediately.
This letter can be created by you or you can hire a credit repair service to do it on your behalf. If you choose to do it yourself realize you have to dispute the item with each credit bureau.
This means that simply disputing an item with Equifax will not remove the item from your Transunion or Experian credit report. Instead you will have to send each of the bureaus a dispute letter.
Reasons for a dispute include; information is wrong, item out of date, account paid in full, not my account and others. The Fair Credit Reporting Act that was passed by congress gives you the right to dispute any listing on your credit that you feel is inaccurate.
In addition the act says the bureaus must remove an item if it is not verified by the creator. This act is what the dispute process is based upon.
Upon receipt of your dispute letter the bureaus will investigate. During the investigation they will ask the creator of the listing to verify the account, the dates on the account, and the account balance.
In the item is not verified then the bureau must remove it from your credit report. Frequently investigations will result in the removal of bad credit from your report. This happens because many businesses are not willing to spend the resources to verify disputed debts.
However before the credit bureau will conduct an investigation your dispute must be a valid dispute. There is no way to tell if the bureaus will deem your letter valid or invalid.
It is common for bureaus to respond to a dispute letter with another letter that requests more information about the dispute. This is said to be a stall tactic the bureaus use to avoid conducing and investigation.
This is because it will only cost the bureaus money to investigate disputes. The bureaus customers are businesses and only because of government law is there a dispute process.
I suggest hiring a service if you have considerable damage to your credit. However if you only have minor damage such as one or two negative listings then you can dispute your report yourself. If you do it yourself just be patient and persistent.
In sum you do not have to wait seven years for a bad credit item to be removed from your credit. You can dispute the listing and have it removed immediately.
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