You’ve likely heard that getting an error off your credit report isn’t easy. There are specific methods you should use when facing the credit bureaus, creditors, or dreaded bill collectors.
It can’t be that complicated, can it?
It is actually more difficult than you think. We want you to know how the proper process, so you can receive the best possible outcome. The best possible outcome is having the issue removed, so you can continue on to better financial standing.
Battling the Big Three
If you are investigating your credit report, we are confident you have heard of the ‘big three’ by now. These are the three main credit reporting agencies: Equifax, TransUnion, and Experian. Although they may seem intimidating at first, don’t let them scare you.
The most important instruction when battling the big three is to provide only factual information about the account you are arguing against. Any time something is found to be false, they can instantly close the case leaving you with nothing to stand on.
Get organized! Make sure you have enough detail to prove your point, so they cannot claim you filed a frivolous suit.
Finally, wait for the bureau(s) to respond that the account has been “verified”. When and if that happens, ask for proof. They have to give proof under the Fair Credit Reporting Act.
**If they don’t supply proof, you can turn them in to receive a fine. They most likely will erase the account if things go this far. Mission accomplished!
Taking On a Creditor
The Fair Credit Billing Act (FCBA) is the place to turn when fighting a creditor or lender. They will reach out to discuss inaccurate billing statements, calculation mistakes, unknown charges, and more.
The method for arguing your point is similar to that of fighting a bureau; make sure you understand the process completely. The top points include the details of what you are fighting, why, the expected outcome, documentation, and the facts.
Facing Bill Collectors
Bill collectors are the ones who annoyingly call every time you and your family sit down to eat. They are usually difficult to hear, talk about things you have no knowledge of, and flat out lie to you.
How is this legal? It’s not! If this happens to you, notify them that you will report them. Usually, that’s all it takes to keep the phone from ringing. In the event it doesn’t stop, you have every right to turn them in. The more people who complain, the more likely they will be shut down for good.
Going against these agencies can be difficult and confusing. We want you to get through the disagreement as quickly and painlessly as possible. If you don’t think you can do it alone, we recommend hiring an expert. We have professionals standing by who are experienced to help.
Have you ever disputed something on your credit report? How did it go? Share your story with us in the comments below. If you don’t want to go at the problem alone, call one of our experts.