Disputing Negative Items on your Credit Report
The common belief among consumers is that it's virtually impossible to repair your credit by removing bad credit history from your consumer credit report. Once bad credit, always bad credit...right? Wrong. There are ways individuals can improve their credit score through sheer effort and rebuilding credit slowly with wise financial decisions. It's also possible to dispute the negative credit items appearing on your consumer credit report. Removing damaged credit history can significantly raise your credit rating, making it easier for you to secure financing and credit cards in the future.
How can I dispute negative credit items?
Each of the three major credit reporting agencies - Experian, Equifax, and TransUnion - have their own procedure for disputing negative items on your personal credit report. The general guidelines are set by the Federal Trade Commision, but each company has its own way of dealing with consumer inquiries. You can file your dispute at the credit bureau's website or by phone. The common detail required to begin the dispute process with each company is the purchase of their credit report. You must have the report number before you can initiate the investigation. You will also be asked to provide the name of the creditor, their address, account number, and other identifying information for the listing in dispute. You will also have to explain why you feel this data is incorrect and should be removed. The credit reporting agency may require you to submit backup documentation, such as account statements, proof of payment, or evidence of prior communication with the creditor in question. You may be asked to deal directly with the original creditor to resolve your dispute before the credit bureau will remove the data from your credit history.
The credit reporting agency has thirty days from the date of your dispute to investigate and respond to your inquiry. If they cannot be sure the negative data is accurate, the listing must be deleted from your credit file. However, the rules and procedures are easily confusing to the average consumer and leave loopholes where the creditors or reporting agencies can reject your dispute if it's not in the proper format or does not fit within their guidelines for accepted disputes. The confusion and frustration of dealing with this negative information would intimidate anyone from attempting to dispute their credit report in the future.
Isn't there an easier way to dispute bad credit data?
If the idea of fighting a credit reporting agency is too much for you to face, or if you are reluctant to enter into yet another battle regarding your past credit mistakes, let Lexington Law Firm help you restore good credit for the future. They have automated the process for their clients, allowing them to choose which items are disputed, then drafting the letters and taking the accounts through the dispute process themselves. With a thorough understanding of the Fair Credit Reporting Act and the demands of the credit reporting agencies, their success yielded over 602,500 deletions from clients' credit histories in 2007 alone! With Lexington Law Firm on your side, you can sit back and let someone else deal with the hassle of your creditors, knowing that your credit rating will rise and your world of financial opportunity will be open again. Visit Lexington Law Firm to find out how their system works and why they lead the way in championing the credit rights of their clients worldwide. Bad credit may be your legacy, but it doesn't have to stay that way with Lexington Law Firm.
