All 3 major credit bureaus (Experian, Equifax & Transunion) give consumers the ability to fix your credit and dispute derogatory or negative trade lines through their websites. This is required by the federal government. However, because the credit bureaus give us the ability to do this doesn’t mean they are an advocate of the process or are working on our behalf to help us clean up our credit reports.
Here is why and its basic logic. The credit bureaus do not generate revenue or make a profit by having to address negative items on our credit reports even if they are erroneous or obsolete. This process is a huge expense for these companies. It’s simply a downside of their business. Therefore they are not going to make it easy to fix your credit.
Steps To Fix Your Credit
First, they are going to require that you prove your identity. If you cannot prove you are who you are they are not going to allow you to submit a dispute. There is actually a very valid reason for this, identity theft. The bureaus are not going to send updates on your credit report giving out personal financial information to someone that they are not sure is you. Therefore, be prepared to answer random questions that will give the bureaus enough information to validate that you are who you say you are.
Then you will have to provide a valid reason for the dispute. What is valid to you is not necessarily valid to them. For instance, because you co-signed for a loan or credit card for someone and they didn’t pay is not a valid reason to have the item removed from your credit report, nor is being deployed on active duty in the military, or going through a divorce. There are valid reasons for disputing an item such as, the account wasn’t yours. But the credit bureaus are not going to publish this information. This is further evidence that they want to make it as difficult as possible for consumers to fix your credit.
If you are successful in submitting a dispute through the credit bureau website or writing a letter, and you receive an update from the bureau verifying the accuracy of the account on your report and thus stating that the information will remain unchanged, don’t give up there. This is the biggest mistake consumers make when trying to dispute items on their own. Dispute it again. Make the credit bureaus contact your creditor and have that creditor respond again. Do it several times. In some cases when the creditor sees that you are not giving up they will simply not respond to the bureau(s). When this occurs the item must be deleted from your report.
A Professional Service Can Save Lots of Time and Frustration
As you can tell this is a lot of work and most of the time leads to failure and frustration. Many consumers make the decision to pay for a professional company with a good track record to go through all of this for them. Companies that have been in business for several years know exactly how to navigate through this process, the proper dispute reasons and codes, the acceptable proof of identification needed, and will not give up.
If you decide that your time is worth far more than trying to fix your credit on your own give us call. We have been in business since 2004, have helped over 250,000 people, work in all 50 states and have an A+ BBB rating. We will work on all 3 bureau reports, dispute as many items as you have, all for a one time activation fee of just $188 and $89/month. We also give you online access to view your items and see the progress we are making on your behalf.