Credit Bureau Disputes – A Few Behind the Scenes Secrets That You Need to Know
Credit Bureau Disputes – A Few Behind the Scenes Secrets That You Need to Know
Credit repair is done by disputing negative items on your credit report and sending a letter of dispute to the three main credit bureaus. In addition to sending a letter of dispute to the bureaus you should also send a copy to the creditors in question.
The sad truth is the credit bureaus often don’t have the time or motivation to justify the validity of your dispute. Because most employees at the credit bureaus are so over worked a ton of mistakes occur. In turn they never bother to double check the information that they are reselling.
Another fact that works in your favor is that the credit bureau system isn’t designed for persistent individuals. Your job is to know your rights and to not take no for an answer! The part that doesn’t work in the consumers favor is the bureaus system is automated.
When you attempt to dispute an item, the credit bureau passes that information on to the creditor.
The creditor looks the information up in their database, and whatever it says they report back to the bureaus. What that means is that a lot of incorrect information is floating around out there and it is up to you to correct it.
The process for correcting your credit is pretty easy. In a nut shell the process consist of sending a series of letters to each of the credit bureaus. Although you can dispute negative items online or via the telephone its best to correspond via mail. The latter method allows you to keep records which is crucial to the repairing process.
Despite what you may have been told the system used by the credit bureaus wasn’t designed to benefit you. I can’t say it enough the key to your success will come down to knowledge, understanding and persistence.
The advice that I give to those who come to my workshops is to get started today.
The sooner you begin the process the closer you will be to achieving the financial success that you deserve.
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