Posts Tagged Contact
Question for Bbdancer, CatDad, Echo, Spiffiman or knowledgeable contributors?
Ashley asked:
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.
My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.
I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.
My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.
Also should I list all three accounts on one letter to each bureau?
Lucille
Can a credit Bureau sue me for unpaid medical bills?
andrea c asked:
Basically I went to the ER without any medical coverage because my work had changed it and i didn’t know when they did. Then I got bills for 80, then 90 then 790.00!!! I dont know how to pay that off except in monthly payments. SMALL monthly payments. I was talking to a guy that was collecting the debt and he said that they were ready to SUE me if i didn’t make a payment of at leaset 334.00 in three months!!! I asked him if there is any other way that I can pay smaller amounts like 50.00 because I cant afford it and he said no. If I don’t pay the 334.00 then they will sue me. I had the payments set up then I talked to the settle company that I already reported this to back in february and they said they sent a letter to them that basically tells them they cannot contact me and what not. But the credit bureau said they are not willing to work with them. Will I get sued for this if theres nothing that can be worked out for a smaller price?
One more thing, I signed up with a settlement company back in February of this year. The company sent out a letter of cease and desist so that they wouldnt contact me anymore and my paralegal said that they’ll do their best to make an offer to them, although the guy from the California Service Bureau said that he was not going to take any offers from them because they don’t work with them. Like i said before i already tried working out a deal with them but the guy from the Service Bureau said they can only offer me 334.00 a month which is outrageous.
And I don’t think the hospitals will work with me on this anymore being that its been almost a year now since i went to the ER and they made the California Service Bureau handle this.
Clara
Basically I went to the ER without any medical coverage because my work had changed it and i didn’t know when they did. Then I got bills for 80, then 90 then 790.00!!! I dont know how to pay that off except in monthly payments. SMALL monthly payments. I was talking to a guy that was collecting the debt and he said that they were ready to SUE me if i didn’t make a payment of at leaset 334.00 in three months!!! I asked him if there is any other way that I can pay smaller amounts like 50.00 because I cant afford it and he said no. If I don’t pay the 334.00 then they will sue me. I had the payments set up then I talked to the settle company that I already reported this to back in february and they said they sent a letter to them that basically tells them they cannot contact me and what not. But the credit bureau said they are not willing to work with them. Will I get sued for this if theres nothing that can be worked out for a smaller price?
One more thing, I signed up with a settlement company back in February of this year. The company sent out a letter of cease and desist so that they wouldnt contact me anymore and my paralegal said that they’ll do their best to make an offer to them, although the guy from the California Service Bureau said that he was not going to take any offers from them because they don’t work with them. Like i said before i already tried working out a deal with them but the guy from the Service Bureau said they can only offer me 334.00 a month which is outrageous.
And I don’t think the hospitals will work with me on this anymore being that its been almost a year now since i went to the ER and they made the California Service Bureau handle this.
Clara
Credit Report Secret – Raise Your Credit Score Fast With This Method!
Helen Hecker asked:
Everyone wants a good credit score. So much of what we do financially is dependent on this FICO score on our credit report. Of course it’s important to try to make payments on time, etc. but this isn’t always easy to do. Emergencies come up. You can be the best person in the world and responsible too and you try to do things right. But there are secrets in the credit reporting field.
But you may just find yourself short on cash and try as you may just have to miss a payment or make a late payment or you’re charged for something you did not buy or returned or something else. Many times this is through no fault of your own.
If you don’t have a current free annual credit report you can get a free credit report instantly online. After you have your credit report in hand, look through the report and find all the negative marks or bad items. Make a list. Hopefully it’s short. Maybe you only have one or two. If you have several then list them with the highest amount down to the lowest.
This is an easy lesson in how to repair your credit. We’re going to tackle the lowest amounts first. And here’s the secret that many people do not know. If you write a letter to the three credit report companies or bureaus and dispute any of the amounts, the credit bureaus contact the creditors. If the amounts are small the creditor may not even bother to answer the credit bureaus.
The credit bureau has to remove the item if the creditor hasn’t responded within a certain length of time.
Don’t think that writing the letter is hard to do. Sit down early in the morning when you are fresh or at a time when you have more energy. Just simply address three envelopes to the three credit bureaus. They are Experian, TransUnion and Equifax.
You can easily get their address from the free credit report or online. Just explain that you found some errors on your credit report that you want to dispute. Make it short.
Enclose any relevant documentation, if you have any, which shows there is an error or that you want to dispute. This would include any cancelled checks, online payment confirmations, etc. Ask for a correction. Then say something like you want to keep a good standing and value an accurate and good credit history.
Also say something like a good credit rating and credit score is important to me. Make sure to name the creditor and the date of the error. Keep a nice tone to the letter.
Then close with a ‘thank you’ paragraph. Something like “Thank you for attending to my letter and this matter so I can maintain a good credit history. If possible let me know that my file has been reviewed and send me a copy of the corrected credit report.”
If you review your free credit report often you can catch small errors and fix your credit report before too much time passes. This is a little known secret and if the creditor amount is small enough you should be able to easily get it removed. It’s worth the small effort to raise your credit score. You CAN fix it yourself knowing this secret! There are many other credit report secrets!
Suzanne
Everyone wants a good credit score. So much of what we do financially is dependent on this FICO score on our credit report. Of course it’s important to try to make payments on time, etc. but this isn’t always easy to do. Emergencies come up. You can be the best person in the world and responsible too and you try to do things right. But there are secrets in the credit reporting field.
But you may just find yourself short on cash and try as you may just have to miss a payment or make a late payment or you’re charged for something you did not buy or returned or something else. Many times this is through no fault of your own.
If you don’t have a current free annual credit report you can get a free credit report instantly online. After you have your credit report in hand, look through the report and find all the negative marks or bad items. Make a list. Hopefully it’s short. Maybe you only have one or two. If you have several then list them with the highest amount down to the lowest.
This is an easy lesson in how to repair your credit. We’re going to tackle the lowest amounts first. And here’s the secret that many people do not know. If you write a letter to the three credit report companies or bureaus and dispute any of the amounts, the credit bureaus contact the creditors. If the amounts are small the creditor may not even bother to answer the credit bureaus.
The credit bureau has to remove the item if the creditor hasn’t responded within a certain length of time.
Don’t think that writing the letter is hard to do. Sit down early in the morning when you are fresh or at a time when you have more energy. Just simply address three envelopes to the three credit bureaus. They are Experian, TransUnion and Equifax.
You can easily get their address from the free credit report or online. Just explain that you found some errors on your credit report that you want to dispute. Make it short.
Enclose any relevant documentation, if you have any, which shows there is an error or that you want to dispute. This would include any cancelled checks, online payment confirmations, etc. Ask for a correction. Then say something like you want to keep a good standing and value an accurate and good credit history.
Also say something like a good credit rating and credit score is important to me. Make sure to name the creditor and the date of the error. Keep a nice tone to the letter.
Then close with a ‘thank you’ paragraph. Something like “Thank you for attending to my letter and this matter so I can maintain a good credit history. If possible let me know that my file has been reviewed and send me a copy of the corrected credit report.”
If you review your free credit report often you can catch small errors and fix your credit report before too much time passes. This is a little known secret and if the creditor amount is small enough you should be able to easily get it removed. It’s worth the small effort to raise your credit score. You CAN fix it yourself knowing this secret! There are many other credit report secrets!
Suzanne
Dispute letter to credit bureau?
Posted by admin in Personal Finance on November 11, 2009
Ashley asked:
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.
My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.
I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.
My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.
Also should I list all three accounts on one letter to each bureau?
Steve
Dispute It: What To do If You Find An Error On Your Credit Report
Jay Delgado asked:
Credit agencies are managed and ran by humans, and from time to time, humans have been known to make mistakes. This leaves the door wide open for there to be mistakes on your credit report. I am not saying there is, I am just saying there could be. In order to protect yourself and your credit standing, it is recommended that you review your credit report once every 90 days.
When you review your credit report, you may come across some information that just does not add up. When you do, you should record this information on a separate piece of paper. Some things to look for include: accounts that are not yours, accounts entered more than once, payments recorded as late when they were on time, discrepancies in amount owed, etc. If you have any questions about anything, write it down.
Your first instinct when you find something that you do not understand on your credit report is to panic. Your mind is filled with dark scenarios where someone stole your identity and is living the good life in a tropical paradise. Before you panic and send off a 10-page letter to the credit bureau, take a moment to review each account in question.
Sometimes accounts that appear out of place are actually legitimate. Take for instance collection accounts. Often, these accounts will appear under different names as the debt has been sold by the original creditor. For entries that you do not recognize, you should use the contact information provided. Call the company and ask who the original creditor was. Ask when the account was opened, at what branch, etc. This might clear up any questions that you have.
If it does not, you will need to contact the credit bureau by mail. Instead of writing a book, though, you should only send a brief explanation of why you think the account should not be on your credit report. Popular complaints include: I was not late, this is not my account, this is more than 7 years old, this collection was reported in error and so on. Keep this letter brief. Your purpose is only to bring the discrepancy to the credit bureaus attention. They will then contact the creditor and ask for verification of the debt. All you need to do is wait.
In most cases, erroneous entries will be removed at this stage. If not, you will have to contact the original creditor. Be sure to keep any correspondence from the creditor as you will need to send this to the credit bureau once your investigation is done. Keep in mind that creditors must respond to your requests within a limited amount of time. If they do not or if they fail to validate your debt, you can have the negative information removed from your credit report; you can also sue them for damages.
If you find an error on your report, there is no reason to sit back and do nothing. Your credit standing is at stake, and there are avenues that you can use to get information removed from your report. Take advantage of them. If you find it all confusing you should consider hiring a professional credit restoration company.
Tim
Credit agencies are managed and ran by humans, and from time to time, humans have been known to make mistakes. This leaves the door wide open for there to be mistakes on your credit report. I am not saying there is, I am just saying there could be. In order to protect yourself and your credit standing, it is recommended that you review your credit report once every 90 days.
When you review your credit report, you may come across some information that just does not add up. When you do, you should record this information on a separate piece of paper. Some things to look for include: accounts that are not yours, accounts entered more than once, payments recorded as late when they were on time, discrepancies in amount owed, etc. If you have any questions about anything, write it down.
Your first instinct when you find something that you do not understand on your credit report is to panic. Your mind is filled with dark scenarios where someone stole your identity and is living the good life in a tropical paradise. Before you panic and send off a 10-page letter to the credit bureau, take a moment to review each account in question.
Sometimes accounts that appear out of place are actually legitimate. Take for instance collection accounts. Often, these accounts will appear under different names as the debt has been sold by the original creditor. For entries that you do not recognize, you should use the contact information provided. Call the company and ask who the original creditor was. Ask when the account was opened, at what branch, etc. This might clear up any questions that you have.
If it does not, you will need to contact the credit bureau by mail. Instead of writing a book, though, you should only send a brief explanation of why you think the account should not be on your credit report. Popular complaints include: I was not late, this is not my account, this is more than 7 years old, this collection was reported in error and so on. Keep this letter brief. Your purpose is only to bring the discrepancy to the credit bureaus attention. They will then contact the creditor and ask for verification of the debt. All you need to do is wait.
In most cases, erroneous entries will be removed at this stage. If not, you will have to contact the original creditor. Be sure to keep any correspondence from the creditor as you will need to send this to the credit bureau once your investigation is done. Keep in mind that creditors must respond to your requests within a limited amount of time. If they do not or if they fail to validate your debt, you can have the negative information removed from your credit report; you can also sue them for damages.
If you find an error on your report, there is no reason to sit back and do nothing. Your credit standing is at stake, and there are avenues that you can use to get information removed from your report. Take advantage of them. If you find it all confusing you should consider hiring a professional credit restoration company.
Tim
Do the three credit bureaus report to each other about investigations?
Parker H. asked:
If I submitted a dispute with Experian to have a 30-day-late delinquency removed, they investigated it, and it was removed… will they report this to the other two agencies for me? I’ve noticed that Equifax has already removed it, but Transunion hasn’t.
Oh, Experian’s investigation ended just today, by the way. Am I just being impatient, or do I need to contact Transunion?
Angela
If I submitted a dispute with Experian to have a 30-day-late delinquency removed, they investigated it, and it was removed… will they report this to the other two agencies for me? I’ve noticed that Equifax has already removed it, but Transunion hasn’t.
Oh, Experian’s investigation ended just today, by the way. Am I just being impatient, or do I need to contact Transunion?
Angela
How to write letter to credit bureaus to delete non validated accounts?
Ashley asked:
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.
My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.
I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.
My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.
Also should I list all three accounts on one letter to each bureau?
Glen
Remove Charge Offs From Your Credit Report Immediately
Posted by admin in Customer Service on July 8, 2009
wesvista asked:
Everyone is entitled to a free credit report from the credit bureau once a year. Make it a habit to get a copy of the credit report from these bureaus once a year to ensure that your credit report is in order.
Many a time consumers find mistakes like charge offs in the credit reports. It is important that you remove charge offs from your credit report as they can remain on your credit report for seven years.
Normally, charge offs take place with unsecured credit cards that remains unpaid for six months. This is when the creditor charge offs your account and writes off your debt for tax purposes.
Doing so, the creditor will sell your account to another collection agency and if this agency cannot recover payment, they will create a negative mark on your credit report. The same thing may continue, wherein you can earn multiple negative marks on your credit report just because of one delinquent account.
Challenge the validity of the negative mark
You have to remove charge offs immediately by challenging the validity of the negative mark you find in your credit report. The first thing to do to remove charge offs is to compose a dispute letter, which you can do on your own.
You have to mention why the charge off in the credit report is inaccurate in your letter, and on receiving the letter, the credit bureau will contact the mentioned lender to find if your claim is valid by verifying the account, amount and dates of transactions.
If your claim is true, and the credit bureau is satisfied with their investigations, they will remove the charge off from your credit report. However if you have multiple negative marks on your credit report, it is better to enlist the help of some professional credit repair company. They not only are more professional in their approach, they also have credit lawyers who can be beneficial in filing your dispute for you.
Arlene
Everyone is entitled to a free credit report from the credit bureau once a year. Make it a habit to get a copy of the credit report from these bureaus once a year to ensure that your credit report is in order.
Many a time consumers find mistakes like charge offs in the credit reports. It is important that you remove charge offs from your credit report as they can remain on your credit report for seven years.
Normally, charge offs take place with unsecured credit cards that remains unpaid for six months. This is when the creditor charge offs your account and writes off your debt for tax purposes.
Doing so, the creditor will sell your account to another collection agency and if this agency cannot recover payment, they will create a negative mark on your credit report. The same thing may continue, wherein you can earn multiple negative marks on your credit report just because of one delinquent account.
Challenge the validity of the negative mark
You have to remove charge offs immediately by challenging the validity of the negative mark you find in your credit report. The first thing to do to remove charge offs is to compose a dispute letter, which you can do on your own.
You have to mention why the charge off in the credit report is inaccurate in your letter, and on receiving the letter, the credit bureau will contact the mentioned lender to find if your claim is valid by verifying the account, amount and dates of transactions.
If your claim is true, and the credit bureau is satisfied with their investigations, they will remove the charge off from your credit report. However if you have multiple negative marks on your credit report, it is better to enlist the help of some professional credit repair company. They not only are more professional in their approach, they also have credit lawyers who can be beneficial in filing your dispute for you.
Arlene
Get Your Credit Report
Brad Stroh asked:
Get Your Credit Report & Analysis
It is very important to get your credit report and analysis. Why is this important? For one thing, if you’re thinking about buying a house or applying for credit for any other big purchase, you’ll need a clean credit report, and it’s always best to get your credit report and analysis before your lender does. This will give you an opportunity to clean up any discrepancies or errors, which are fairly common, and which can throw a monkey wrench in the works if not resolved.
Ideally, you should get your credit report and analysis once a year with each of the three credit bureaus:
• Bills can get them all – http://www.bills.com/creditreport
• Equifax – (800) 685-1111, http://www.equifax.com
• Trans Union – (800) 888-4213, http://www.transunion.com; and
• Experian (888) 397-3742, http://www.experian.com
You’re entitled by law to get your credit report and analysis for free from each of these three credit bureaus once a year. You can get all three at once or spread them out over the year. If you get your credit report and analysis more frequently than that, each report will cost no more than around $10 and in some states considerably less.
If you’ve been turned down for credit in the last 60 days because of something a lender saw on your credit report, you can get your credit report and analysis free of charge. Lenders are required by law to notify you of this right if they deny you credit.
When you get your credit report and analysis, review them carefully to make sure all the loans and credit accounts listed really belong to you, and that all the accounts listed as open are actually current loans or balances. If a loan you’ve paid off or a credit card that was cancelled is still listed as open, contact the credit bureau and ask for your credit report to be corrected.
What Is the Range of Possible FICO Credit Scores and What Do They Mean?
FICO credit scores range between 300 and 850. Ratings are as follows:
~ Excellent: Over 750
~ Very Good: 720 or more
~ Acceptable: 660 to 720
~ Uncertain: 620 to 660
~ Risky: less than 620
How Is My FICO Credit Score Calculated?
The formula used to calculate your FICO credit score includes information based on several factors:
~ 35% on your payment history
~ 30% on the amount you currently owe lenders
~ 15% on the length of your credit history
~ 10% on the number of new credit accounts you’ve opened or applied for (fewer is better)
~ 10% on the mix of credit accounts you have (mortgages, credit cards, installment loans, etc.)
In general, when people talk about “your credit score,” they’re talking about your current FICO score. But in fact there are three different FICO scores developed by Fair Isaac—one at each of the three main US credit reporting agencies. And these scores have different names.
WILL YOUR SCORES BE DIFFERENT?
FICO credit scores range from about 300 to 850. It’s important to get your credit report and analysis so you can understand what your FICO score is. Fair Isaac makes the scores as consistent as possible between the three credit reporting agencies. If your information were exactly identical at all three credit reporting agencies, your scores from all three would be within a few points of each other. But here’s why your FICO scores may in fact be different at the three credit reporting agencies. The way lenders and other businesses report information to the credit reporting agencies sometimes results in different information being in your credit report at the three agencies. The agencies may also report the same information in different ways. Even small differences in the information at the three credit reporting agencies can affect your scores. Since lenders may review your score and credit report from any of the three credit reporting agencies, it’s a good idea to check your credit report from all three and make sure they’re all right.
Usually when you get your credit report and analysis from the credit bureau it will include a form for reporting any inaccuracies. Give as much detail as possible, and if you have documents that back up your claim, provide copies. By law, the credit bureau must investigate your credit report claim, but even if they decide your credit report is accurate as it stands, you should continue to try to correct the report by writing a letter explaining your side of the story (not to exceed 100 words), which the bureau is required to provide to anyone requesting your credit report.
When deciding whether to approve credit, lenders take the following into consideration:
• Your payment history—do you pay bills on time?
• Have you had a bill referred to a collection agency?
• Have you ever declared bankruptcy?
• How much debt do you have outstanding compared to your credit limits? The closer your debt is to your credit limit, the less favorable.
• How long is your credit history? If you haven’t had much of a credit history yet, prompt payments are even more important.
• Have you applied for more credit lately? Too many applications for credit has a negative impact on your chances for approval.
• How many credit accounts do you have? Too many is considered a negative.
Information is retained in your credit report for up to seven to ten years. When you get your credit report and analysis, if you have negative items in your history, you can gradually repair your credit by consistently paying your bills on time from now on, paying down your balances, and not taking on any new debt. Lenders will take your improved record into consideration when deciding whether to approve credit, especially if you’ve been paying on time for at least a year.
Andrew
Get Your Credit Report & Analysis
It is very important to get your credit report and analysis. Why is this important? For one thing, if you’re thinking about buying a house or applying for credit for any other big purchase, you’ll need a clean credit report, and it’s always best to get your credit report and analysis before your lender does. This will give you an opportunity to clean up any discrepancies or errors, which are fairly common, and which can throw a monkey wrench in the works if not resolved.
Ideally, you should get your credit report and analysis once a year with each of the three credit bureaus:
• Bills can get them all – http://www.bills.com/creditreport
• Equifax – (800) 685-1111, http://www.equifax.com
• Trans Union – (800) 888-4213, http://www.transunion.com; and
• Experian (888) 397-3742, http://www.experian.com
You’re entitled by law to get your credit report and analysis for free from each of these three credit bureaus once a year. You can get all three at once or spread them out over the year. If you get your credit report and analysis more frequently than that, each report will cost no more than around $10 and in some states considerably less.
If you’ve been turned down for credit in the last 60 days because of something a lender saw on your credit report, you can get your credit report and analysis free of charge. Lenders are required by law to notify you of this right if they deny you credit.
When you get your credit report and analysis, review them carefully to make sure all the loans and credit accounts listed really belong to you, and that all the accounts listed as open are actually current loans or balances. If a loan you’ve paid off or a credit card that was cancelled is still listed as open, contact the credit bureau and ask for your credit report to be corrected.
What Is the Range of Possible FICO Credit Scores and What Do They Mean?
FICO credit scores range between 300 and 850. Ratings are as follows:
~ Excellent: Over 750
~ Very Good: 720 or more
~ Acceptable: 660 to 720
~ Uncertain: 620 to 660
~ Risky: less than 620
How Is My FICO Credit Score Calculated?
The formula used to calculate your FICO credit score includes information based on several factors:
~ 35% on your payment history
~ 30% on the amount you currently owe lenders
~ 15% on the length of your credit history
~ 10% on the number of new credit accounts you’ve opened or applied for (fewer is better)
~ 10% on the mix of credit accounts you have (mortgages, credit cards, installment loans, etc.)
In general, when people talk about “your credit score,” they’re talking about your current FICO score. But in fact there are three different FICO scores developed by Fair Isaac—one at each of the three main US credit reporting agencies. And these scores have different names.
WILL YOUR SCORES BE DIFFERENT?
FICO credit scores range from about 300 to 850. It’s important to get your credit report and analysis so you can understand what your FICO score is. Fair Isaac makes the scores as consistent as possible between the three credit reporting agencies. If your information were exactly identical at all three credit reporting agencies, your scores from all three would be within a few points of each other. But here’s why your FICO scores may in fact be different at the three credit reporting agencies. The way lenders and other businesses report information to the credit reporting agencies sometimes results in different information being in your credit report at the three agencies. The agencies may also report the same information in different ways. Even small differences in the information at the three credit reporting agencies can affect your scores. Since lenders may review your score and credit report from any of the three credit reporting agencies, it’s a good idea to check your credit report from all three and make sure they’re all right.
Usually when you get your credit report and analysis from the credit bureau it will include a form for reporting any inaccuracies. Give as much detail as possible, and if you have documents that back up your claim, provide copies. By law, the credit bureau must investigate your credit report claim, but even if they decide your credit report is accurate as it stands, you should continue to try to correct the report by writing a letter explaining your side of the story (not to exceed 100 words), which the bureau is required to provide to anyone requesting your credit report.
When deciding whether to approve credit, lenders take the following into consideration:
• Your payment history—do you pay bills on time?
• Have you had a bill referred to a collection agency?
• Have you ever declared bankruptcy?
• How much debt do you have outstanding compared to your credit limits? The closer your debt is to your credit limit, the less favorable.
• How long is your credit history? If you haven’t had much of a credit history yet, prompt payments are even more important.
• Have you applied for more credit lately? Too many applications for credit has a negative impact on your chances for approval.
• How many credit accounts do you have? Too many is considered a negative.
Information is retained in your credit report for up to seven to ten years. When you get your credit report and analysis, if you have negative items in your history, you can gradually repair your credit by consistently paying your bills on time from now on, paying down your balances, and not taking on any new debt. Lenders will take your improved record into consideration when deciding whether to approve credit, especially if you’ve been paying on time for at least a year.
Andrew
How to write a dispute to Credit Bureaus?
Ashley asked:
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.
I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.
My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.
I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.
My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.
Also should I list all three accounts on one letter to each bureau?
Ruby