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Friday 20th of October 2017

Credit Bureau Disputes - What The Credit Bureaus Wishes You Didn't Know! PDF Print Email
Finance - Credit
Written by: Tim Beachum   
Thursday, 21 May 2009 19:55
Let's jump right in and peal back some of the mystery surrounding repairing your credit yourself. The process for the most part is pretty simple. It is accomplished by a series of dispute letters which is sent to the three major credit bureaus. The part that most books leave out is you should also send letters of dispute to your creditors.


Let's jump right in and peal back some of the mystery surrounding repairing your credit yourself. The process for the most part is pretty simple. It is accomplished by a series of dispute letters which is sent to the three major credit bureaus. The part that most books leave out is you should also send letters of dispute to your creditors.

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 attempt to dispute an item, the credit bureau passes that information on to the creditor. The creditor looks the information up in their database, and whatever it says they report back to the bureaus. What that means is that a lot of incorrect information is floating around out there and it is up to you to correct it.

If you would believe the media you would think that the credit bureau's are there to help you. Your success with your credit repair comes down to this, knowledge, understanding, and the most important (drum roll please.....) Persistence!

I tell my students all the time that the number one thing that they must do is take immediate action. No matter what happens they will at least get a result, and can take if from there. With that thought in mind you need to take action right now!

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