Credit Repair: The Truth and Nothing but the Truth
When making a claim to a credit bureau, bill collector, or collection agency, there is a distinct process that should be followed. The reason for this is the information needs to be factual. The only material that should be included in a dispute are the facts surrounding the situation, the specifics of the incorrect reporting, and any accurate circumstances that you are aware of related to the issue. Before disputing any credit issue, be positive that you are doing it the proper way.
It’s Not That Simple Anymore
In the past, it was common for people who saw an issue on a credit report to simply write a letter to the credit bureau. In the letter, they would merely state that they did not open the account being reported or that it was paid in full, etc. The credit bureau would often take that information and wipe off whatever problem was being reported.
Things are not that easy anymore. When people discovered how uncomplicated it was to clear up credit issues, everyone started doing the same thing. But, some people made false reports that the delinquent account was not theirs. This not only created major problems for creditors, bill collectors, and the bureaus, it also made the disputing process that much more difficult.
Getting Turned Down
Chances are, the first time a claim is made that an inaccuracy has been reported on a credit report, the bureau or other agency that published the report is going to turn down the request. If it is factual that the account truly is not yours, this is the only time that you would actually state that to the bureau. However, in most instances, that is not going to be enough to remove the blemish.
This is where it is essential that only the facts are sent in to the bill collector, creditor, or credit bureau. In the event the dispute goes on further, it is imperative to have only factual claims on record.
Some people will try to make false claims or include inaccurate information when disputing a credit report problem. In the past, this may have worked, but today, things are a little bit different. A credit issue can end up in a court proceeding before it actually gets taken off the record.
If the person who is trying to clear their credit has been making false statements surrounding the problem, even if they are small ones, it is going to reflect negatively when or if they get to court. In other words, a false statement may remove any and all hope of having the issue cleared, even if it wasn’t your account in the first place.
Whenever working on an inaccuracy in a credit report, only the truth should be stated to the agency that is being contacted. If you are unsure of what exactly should be said, there are credit repair specialists who know how to compose a proper dispute letter. Get in touch with one of these experts to be more confident that the problem will be dealt with properly.