For those of you relying on credit score because you fell into the credit trap I have some great information for you. Even the worst scores can be fixed with time, patience, and good saving habits. It should not shock you that if you save money you can use that saved money to pay off bad debt. When you are ready to pay that puts you in a position of strength with the ability to negotiate.
Let’s talk about disputes and how they work. A dispute is just that. It is a dispute about a misstatement on your credit report. When you file a dispute about something in particular you must file that dispute with all three bureaus. One will not report to the other so you have to be sure you do the leg work.
Many people ask me do you need someone to repair your credit. The answer is no as long as you are willing to learn and work hard. Most people that choose someone else to repair their credit are just lazy. They cannot make it happen any faster than you can. They do on occasion get your score improved temporarily better than you can but that is only because of “jamming.”
Jamming is borderline fraud, not really illegal, but morally wrong. What these agencies do is file disputes about nearly everything your report. A company has 30 days to respond to a dispute. After that 30 days the disputed item will be removed from your report. Within days, or weeks the legitimate item will be re-added once again changing your score to what it should be. This system works in the short term but will not show real results.
Over the last 2 years I have had 9 collections, and 4 negative items removed from my credit report. I have had 5 and 3 removed from my spouses report. These were all errors and negotiations to improve my overall credit.
The best and easiest way to file a dispute is to go to the bureau website. Equifax, TransUnion and Experian dot com! Click on file a dispute and enter your personal information. Complete the security check that they will require to verify your identity. Choose the item you want to dispute and why, and write a brief note about why it shouldn’t be on your report. You will be given a chance to upload supporting documentation to prove your claim. The company has 30 days to respond and you will receive updates via e-mail from the bureau. Like I said though. You must file this dispute with each individual bureau to have it removed. You can also file disputes the old school way which is by computer/printer and U.S. Mail. It will take significantly longer.