Part II: Regarding credit report disputes...?
The items that I was refering to is past the seven year mark. And on the credit report it states when each item will be removed from the report. The question is...is there an acceptable way or format used to dispute an item. What specifically should be included in the dispute letter? Should I certify and/or track the letter?
Public Comments
- I would use the exact formats that all credit bureuas give you. You can call them and get example dispute forms. YES, certify the letter, it only costs like.. .75 cents. Good luck
- Draft a letter to each of the three credit reporting agencies with your information, ie. name, SS# address and phone number. Explain you are writing to have the information removed because it was reported negative more then 7 years ago, you don't need to cite laws or be rude they know the law. List each account you are disputing with name of creditor and account number and ask to have the information removed immediately then request to have an updated copy of your credit report sent to you. Make a copy of the letter for your own records and send it certified return receipt. That way you will know when they receive the letter. They have 30 days to act or by law the disputed items must be removed. If you have any questions google "fair credit reporting act."
- First you have to make sure you are using the correct time to use as the 7 years. The 7 years starts from the date of the first delinquency. So if you made a payment on 11/2000, but failed to make a payment on 12/2000. Then 12/2000 is the date of the delinquency, and the 7 years start from this point. If it is past this time then you need to send a dispute to the Credit Reporting Agencies. You need to send it by at least Certified Mail, but also request a Return Receipt so you have physical proof that they received it. This will cost you just over $5, but well worth it in order to be sure that they got your dispute. In the letter you just need to put in Your Name Address SSN The account(s) in question The reason of the dispute The action you want done Also, include a copy of your Drivers License. This will prove your identity to them. If you do not provide this they will most likey send you a letter requesting this information. If your address is not an address they have on file you also may need to include a copy of a recent utility bill to prove that this is your current address.
- creditinfocenter com - all the letters Always keep a copy of what you send, I've been faxing and mailing some debt collectors. From Buddhibbs com if they are listed. I also have been sending copies to the State Attorney General's Office of where they reside.
- OK, lets clean up the bad answers. 1) Don't waste a stamp sending letters to the attorney general, FTC, BBB, FBI, CIA or any other agency...they will not help you. Been there, done that. They will only add your letter to a pile of other complaints, then when the pile is big enough they MAY look into it. It rarely happens. If they do, it will be in the form of a class action...you will end up getting nothing. 2) If you send a letter to the credit bureau to dispute it, here is what will happen. By law, they must "validate" this information, meaning they have to ask the creditor if the information they have is accurate. They do this by sending your dispute to the creditor who posted the information. The creditor will notify the credit bureau that it's accurate, and the negative item stays. No "investigation" is ever done. The credit bureau did their job, and they are now off the legal hook. You got nowhere. Now here is what you need to do: http://www.creditinfocenter.com/rebuild/debt_validation_workflow.shtml This is a flowchart and timeline, giving you step-by-step instructions on what to do. Read over the rest of their site, as it contains other excellent information. Specifically, you need to send the creditor a demand to "validate" the debt. In it, demand that they show the "delinquency date" and proof of it. That will be in the form of the last bill you received, plus the first demand letter you received. If they can not produce this, they need to delete this entry, or risk a lawsuit. You can easily file a small claims suit by yourself. If you follow these procedures you will win $1000 very easily, plus court costs.
