What do you do when disputing a truly inaccurate credit item with Experian Equifaxor TransUnion doesn't work?

Question

I have been using this free credit repair kit on this website: www.expert-credit-advice.com and have had many inaccurate items removed by using the pretyped dispute letters, however; a few of the truly inaccurate items have been deemed "accurate" by the bureaus. I used the demand and follow up letter and the bureaus insist that I am using a credit repair company and refuse to investigate further because they say I am a frivelous consumer disputer!!!! I am simply wanting my credit to be accurate and they will not do anything further than offer me a "consumer statement of a 100 words or less". I heard placing a consumer statement is really bad, so I dont want to place one.

Can someone please tell me how to approach the bureaus; sue them, send more letters????

Answer 1

If you want this fixed, then listen to what I'm telling you.

Ignore Ray's advice. The FTC does NOT assist in individual disputes. They limit their work to tracking and regulatory enforcement. If you contact them, your complaint will go into a file with hundreds of other complaints, and eventually they MAY do something about them. But it will be limited to fines against the creditor/credit bureau, and will not help you at all.

Rebecca is also wrong. It's NOT your responsibility to prove you DON'T owe the debt! It's their job to prove you do!

Adding a consumer statement to your credit report does not hurt your credit, but it doesn't help either. It plays no part in figuring out your credit score, and is only helpfull if a potential creditor actually reads it....and even then they tend not to believe it.

So just what do you do to fix this?

The reason these guys get away with it is because you don't know the law. So the first step is get armed! This is a war, and knowledge is your only weapon. Read the Fair Credit Reporting Act (see below) and understand how the process works.

This is where you are messing up. First, many of these idiot "credit repair" services are giving you bad information. One of their favorite pieces of advices is to send a bunch of dispute letters to the credit bureau, and eventually they will just delete the item from your report.

WRONG! There was a law passed in 2003 called the Fair and Accurate Credit Reporting Act that gives the credit bureau more room in fighting this technique, by allowing them to ignore frivilous disputes. By not playing the "game" right, you now have the credit bureau ignoring you. If you do it right, you never have to send more then one letter to the credit bureaus.

When you send the credit burear a dispute, all they do is contact the creditor and ask if the debt is correct. NO investigation is ever done. If the creditor says it's accurate (no proof is given) then the item stays. The credit bureau has done their job under the law.

What you have to do next is send the creditor/collection agency a letter, demanding that they "validate" the debt. If this truely is not your debt, then obviously they will not be able to properly validate it.

What "validate" means is they must send you copies of all contracts, bills, receipts, and everything used to calculate what they claim you owe. They must show that you have a legal obligation to pay this debt. They must send this information within 30 days of receiving your letter. Be sure to send it by certified mail/return receipt.

After 30 days, your next step depends on what they did.

If they send you anything, examine it carefully. If it does not prove beyond a doubt that this is your debt, then they have failed to 'validate' it. Send a second letter and point out the inaccuracies, and demand proper validation.

If they don't send you anything, or fail to fully validate the debt, your next step is to send a final dispute letter to the credit burear. Send copies of everything you have received from the creditor as proof.

If they still refuse to remove this item, you now have fullfilled the requirements of the FCRA and have grounds to sue not only the credit bureau, but also the creditor for posting unvalidated information to your credit report. It's a simple small claims suit, and costs only $25-50 to file. If you have done everything right, and have copies of the letters with proof they were mailed, then they can't defend themselves. You will easily win $1000 from each of them.

You can also collect any damages that this bad credit history caused you. Loss of credit, increased interest rates, higher insurance rates. But note that to recover damages, the burdon of proof is on you, so you will need to do some more homework to understand exactly what the courts will need.

I'm speaking from first hand knowledge, because I had to do this. I got $1200 for my troubles.

See the links below for more info and help. Contact me if you need more assistance.

Answer 2

Or just contact the creditors with the provided documentation and remind them that the debt is paid (if that is your dispute)
If the debt has been paid, yes, it will remain on your report for at least 7 years.
When you use a so called repair service they bombard the credit bureaus with dispute letters, so maybe that is why the frivelous statement came in.
So I guess inaccurancy in what way are you disputing? They are inaccurate in what way?

Answer 3

The credit bureaus are governed by the Fair Credit Reporting Act. There are various agencies that can be of assistance to you in enforcing your claims to inaccurate information. Have all your documentation in front of you when you call or write:

Federal Trade Commission
Consumer Response Center - FCRA
Washington, DC 20580

Phone: 1-877-FTC-Help

Answer 4

The bottom line is, you must show proof that the items are inaccurate! Contact the original debtor and find out what their records show! If they show you paid, have them send you a letter saying so. You must save receipts for these types of things!