10 Common Credit Report Disputing Mistakes… And How To Stop Making Them

The FTC says that only time can fix a credit history, yet they provide instructions for credit report disputing on their website. The plain fact of the matter is credit report disputing works. The credit offices just do not want you to find out how to do it or else they’d lose millions as they were made to correct all the mess ups their system has created.

If you do some research, youre bound to find 101 do it yourself credit report disputing guides on the web and in the library. Having read a large percentage of them myself, I’ll tell you with great certainty that an overall majority of credit fixing “gurus” have no clue what they are talking about. Their information is more likely to do more damage than good.

Using the sample credit repair letters you find online is equally useless. The credit bureaus have PC programs in place that read your credit correction forms, alter them to the undeniable fact youre sad about gaffes on your credit report, then submit you into an automatic response process engineered to frustrate you into giving up your efforts at minimum cost to them.

Here are some more of the most common mistakes folks make when trying to mend their own credit and some tips on the simple way to avoid them.

1. Using credit repair forms – The credit bureaus aren’t stupid. They keep records of every dispute you make. In fact they keep records of all disputes. When they see a dispute often enough (like that sample credit repair letters you may find on the internet along with thousands of other net surfers) they are much more likely to mark that dispute as frivolous; since the odds are the person using it is either a fly-by-night credit repair company or an amateur. Once your account has been flagged it will be much more difficult to make any further progress on your credit report. Use the template to give you an idea of what you need to say and then put it in your own words.
2. Not hiring a professional – Credit report disputing for a better score may seem simple. As you can plainly see it’s not. To get fast results far above anything you could ever do on your own without years of experience
3. Validating negative information – Another common rookie mistake is to validate negative information while trying to dispute the information being reported. The rule of thumb is the less you say the better. Make them prove themselves to you. The law is on your side.
4. Not keeping copies of all correspondence – Every letter you send and receive from a creditor or collection agent can be used to build your case. Never negotiate or accept offers unless they’re in writing. Document EVERYTHING.
5. Not disputing in the proper order – When disputing you are requesting the bureaus and your creditors to prove they are following the law to the letter. If they are not your ultimate recourse is a law suit. Your case won’t hold water if you don’t follow the proper procedures. If you’re going to ask for leniency from a creditor do that before disputing with the bureaus. If you plan to fight a remark on your report you must dispute with the bureaus first.
6. Not validating with the creditor or collection agent – Many consumers are too quick to pay off creditors and collection agents just to stop the harassing calls or in an effort to clean up their credit history. Before paying any past due debt you have the right to request validation that the debt is yours. You’d be surprised how often they fail to comply.
7. Giving up too soon – Credit report disputing is a process. While you may get immediate results if you have evidence of wrong doing you can still get good results if you’re persistent enough. For instance most collection agencies will reply to a request for validation with a template letter. This letter violates the Fair Debt collections Practices Act (FDCPA). By following up you can leverage their violation into a deletion or a law suit.
8. Closing old accounts – The age of your accounts types of accounts and amount of debt used make up a total of 55% of your credit score. When you close an account you remove that account from the equation. That’s usually not a good thing. Instead it’s much wiser to use your old cards once every 6 months to keep them active. Just be sure to pay off the balance within 2 -3 months.
9. trial and error and maybe an ulcer you’d do well to invest in hiring a reputable service like ScoreMoreCredit.com
10. creditors and collection agencies have 30 days to investigate and respond to your disputes. This is a major weapon in your arsenal because lenders maintain millions of records. It can be very difficult for them to produce the requested documents.

Brian Diez is the CEO of ScoreMoreCredit.com and a nationally recognized credit expert. Get your free CD, PDF and telephone consultation at ScoreMoreCredit.com.