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How to Repair Your Credit ((Part Four))
Important:
Do not allow a credit repair company to send a dispute on your behalf. If the dispute letter is sent
by someone other than yourself, the credit bureaus will know that you
have hired a company or someone else to perform credit
repair. They know the tricks and this will not work as well as you sending it directly.
Since Credit Bureau are not in
the business of lending you any money, they are not concerned whether the information
stored on their systems are accurate. Remember, they are paid to
strictly store information.
Consumers that work on their credit reports often say that their dispute letters have been overlooked by credit bureaus. That is true because the credit bureaus
attempt to discourage consumers like you from repairing their credit by making it a
very long and difficult process. Some consumers may report that even
if they have proof an item does not belong to them; its removal can sometimes take 3 or 4 dispute letters. If a credit bureau says they have confirmed or verified a
disputed item, it can feel as if all they have done is
verify that it exists in their system. THIS IS NOT CONSIDERED
SUFFICIENT PROOF because they have to provide more proof, so keep reading on.
Send your credit dispute letter by
only by CERTIFIED RETURN RECEIPT because that drastically increases your chances
for a response from the credit bureau by leaps and bounds. This cannot be
performed on the first attempt. Write down the dates you sent the credit dispute letters and
when you expect to get a response from the credit bureau. If you
did not receive a response to your dispute letter 30 to 37 days
from the date you mailed in your inquiry, get on the charge and attack that credit bureau with a
threatening certified return receipt letter of an updated
copy of your credit report clearly demanding that the disputed items be completely deleted.
Let's just say that the credit bureaus don’t reply within 30
days, it is probably that the information was "wrong/inaccurate", or it simply
"unable to be verified". In any case, the Fair Credit Reporting Act
states that these items have to be deleted immediately.
Consumers find that the
alimentation of any negative items on their credit reports
is possible by following this step by step guide of disputing negative
items over and time again. As many creditors don't put the time
in defending negative items, eventually you can achieve
great credit repair results by your creditor's lack of
response to the credit bureau’s request of verification of the negative items. This occurs commonly. The creditors will not always
put in the time to bother with paperwork and that is to your advantage. We will go into this on a deeper level at a later point.
When you receive your updated credit report carefully review it to insure that they have dropped the negative items and to see if anything else has changed. Many consumers attempting to repair their credit report have found that while disputing a negative item, and for no apparent reason, another negative item or two simply disappeared. Usually some type of progress is made each time you challenge a negative credit item, but don’t get discouraged if you do not get the results you are looking for each time. Remember, credit bureaus would like you to quit bothering them. If you aren't disputing your report, they can legally continue to sell it as information for profit.
After receiving a response, repeat the
same process again and again. Many consumers who successfully repaired their credit report say they have
turned down on a judgment or bankruptcy and received a verification
letter from the credit bureaus stating that the item was a public record... They
were also denied a second and a third time, but finally a ray of light, the credit bureau
suddenly decided to delete the bankruptcy from the credit report. So, no matter what,
discouragement is not an option Persistence and patience are
crucial to an a successful credit repair process.
Creditors who submitted a negative item to the credit bureaus are the ones responsible to provide
verification information on a disputed item. These creditors
usually don't have the proper records nor the staff power to verify
every disputes that comes in within 30 days. So now you know how easy it is to remove negative information from your credit report. The only way to find out if this will work for you is try it yourself. However, our statistics have shown that certain items are easier to
clean than other ones.
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