Credit Bureau Disputes – A Few Behind The Scenes Secrets That You Need To Know
The process of repairing your credit is done through a series of dispute letters which are sent to the three main credit bureaus. You should also send a letter of dispute to your creditors. The goal is to make sure that everyone is on the same page.
Based on my experiences the employees at the credit bureaus lack motivation, and really don’t do much to verify the validity of your disputes. Do to the lack of caring and the high volume of activity a lot of mistakes occur at the consumers expense. In over four years I have never had anyone from the credit bureau double check the information that they are reselling.
Brace yourself because the truth sometimes is like a punch in the face. The truth is the credit bureau’s system isn’t designed for those who are persistent. This is why it is your job to know your rights and NEVER accept no as an answer. The downside as far as you the consumer is concerned is the bureaus system is mostly automated.
When you send the bureau your letter of dispute, they forward it to the creditor. The creditor will check their database and report the findings back to the bureau. Throughout the entire process no one checks to see if their information is accurate or not. This is why it’s your job to stay on top of them making sure they do their jobs.
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.
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.
