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.
You can write a dispute letter yourself or you can hire a service to write it on your behalf. You should be aware that a dispute letter must be sent to each credit bureau.
This means that if you send a letter to Equifax and they remove the mark you will also need to send a letter to Transunion or Experian. There is no communication between the three bureaus regarding disputes.
Common reasons to dispute a bad credit item include; information is wrong, item is out of date, account paid in full and more. The Fair Credit Reporting Act passed by congress gives you the right to dispute any item on your credit report.
In addition this act says that any mark that can not be verified must be removed from your report. This 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 there is no money to be earned from the dispute process. It however will cost the bureaus time and money to investigate.
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 can remove bad credit items before seven years. You can dispute the bureaus and have the negative item removed.
You can write a dispute letter yourself or you can hire a service to write it on your behalf. You should be aware that a dispute letter must be sent to each credit bureau.
This means that if you send a letter to Equifax and they remove the mark you will also need to send a letter to Transunion or Experian. There is no communication between the three bureaus regarding disputes.
Common reasons to dispute a bad credit item include; information is wrong, item is out of date, account paid in full and more. The Fair Credit Reporting Act passed by congress gives you the right to dispute any item on your credit report.
In addition this act says that any mark that can not be verified must be removed from your report. This 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 there is no money to be earned from the dispute process. It however will cost the bureaus time and money to investigate.
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 can remove bad credit items before seven years. You can dispute the bureaus and have the negative item removed.
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