Your Equifax Credit Report Can Be Challenged
Anxious to remove bad credit from your Equifax credit report?
Your first step is to obtain a copy of your Equifax Credit Report and look for errors, inaccurate items, undesirable information, and/or information that is misleading. Damaging credit items include:
charge offs
judgments
bankruptcy and included in bankruptcy
home foreclosures
repossessions - auto, boat, or other property
payroll garnishment
late payments
collections, paid collections, settled accounts
public records/judgments
A dispute letter to Equifax is the next step. You should draft a letter which outlines your reason for believing the reported information is inaccurate. Be sure to include your personal information in the letter.
Finally, you will need to wait 30-45 days to receive Equifax's determination.
Should I Do Anything Else?
If you win your dispute with Equifax, you should continue to clear up any unresolved issues, including remaining inaccurate bad credit. Once you eliminate all traces of bad credit, you should focus on resolving any other discrepancies such as address and employment information.
If your dispute is successful, the negative item in question will be removed by Equifax. At times, a credit bureau will revise items on your credit report after they have been contacted by your creditors. This information can be good or bad, depending upon the creditors' reports. For instance, your credit report might be revised to show that an account went to collection.
If you lose your Equifax dispute, the negative items will stay on your report possibly for the next 7-10 years. If this happens, you still have some options to continue the credit repair process.
At times, a simple dispute is not effective and more advanced methods are necessary. At this point, it is wise to seek the advice of a legal professional who can employ methods such as payment for deletion, debt validation, or possibly even negotiating directly with the creditor.
It is important to understand that creditors are not required to report credit history to credit bureaus. Only credit bureaus must follow the law requiring the seven year limit. Therefore, an experienced attorney may be able to convince a creditor to remove a negative credit item. - 31377
Anxious to remove bad credit from your Equifax credit report?
Your first step is to obtain a copy of your Equifax Credit Report and look for errors, inaccurate items, undesirable information, and/or information that is misleading. Damaging credit items include:
charge offs
judgments
bankruptcy and included in bankruptcy
home foreclosures
repossessions - auto, boat, or other property
payroll garnishment
late payments
collections, paid collections, settled accounts
public records/judgments
A dispute letter to Equifax is the next step. You should draft a letter which outlines your reason for believing the reported information is inaccurate. Be sure to include your personal information in the letter.
Finally, you will need to wait 30-45 days to receive Equifax's determination.
Should I Do Anything Else?
If you win your dispute with Equifax, you should continue to clear up any unresolved issues, including remaining inaccurate bad credit. Once you eliminate all traces of bad credit, you should focus on resolving any other discrepancies such as address and employment information.
If your dispute is successful, the negative item in question will be removed by Equifax. At times, a credit bureau will revise items on your credit report after they have been contacted by your creditors. This information can be good or bad, depending upon the creditors' reports. For instance, your credit report might be revised to show that an account went to collection.
If you lose your Equifax dispute, the negative items will stay on your report possibly for the next 7-10 years. If this happens, you still have some options to continue the credit repair process.
At times, a simple dispute is not effective and more advanced methods are necessary. At this point, it is wise to seek the advice of a legal professional who can employ methods such as payment for deletion, debt validation, or possibly even negotiating directly with the creditor.
It is important to understand that creditors are not required to report credit history to credit bureaus. Only credit bureaus must follow the law requiring the seven year limit. Therefore, an experienced attorney may be able to convince a creditor to remove a negative credit item. - 31377
About the Author:
We raised our credit scores from the upper 500 range to 745 and 763 in under six months and got approved for our dream home. See proof of our credit repair success at www.creditforcouples.com and get the real truth about lexingtonlaw.com .
