I heard that if a creditor doesn't respond to your 30 day dispute letter, it can be removed.?

Question

I want to know the likelihood of the creditors responding to your 30 day request.

Answer 1

This is where I point out stupid answers and laugh....

Daveyboy! ;) pointing at you! I would suggest that you read the Fair Credit Reporting Act before you try answering again. It is not fraud if you try to remove ANY listing from your credit report...correct or not. You have a legal RIGHT to challenge any item being reported, and the creditor has the OBLIGATION to prove that it's accurate.

jerzybuckeye, you need to read the FCRA also....the credit bureau is REQUIRED to delete items after 7 years, beginning from the date of the delinquency. If they don't, they are in violation of the FCRA and can be sued for each violation. This is why they keep very accurate (well, sort of accurate) records of the delinquency date, so they can remove them in time.

To answer your question....there is a procedure that you must follow in order to challenge items on your report. See the link below...it gives you a step-by-step flowchart of what to do.

Answer 2

Did you sent the dispute letter to the credit bureau or the creditor?

The first place to send a dispute is the credit bureau. They in turn contact the creditor, wait 30 days for their response. If the creditor doesn't respond, the negative is removed. But if the creditor says yes that's correct, it stays.

You should then sent a certified, return receipt, letter to the creditor indicating that the debt isn't yours and ask they send you documentation to prove the debt is yours. Wait 30 days for them to respond. If they don't respond, go back to the credit bureau with a copy of your letter to the creditor, indicating the creditor failed to supply and documentation, and demand the item be removed from your report.

Now if this is a legit debt and you are hoping to get thru some loophole to get it removed, forget it. Don't clog up the credit bureau dispute system.

Answer 3

That is true and rarely do the credit bureaus meet the deadline because they are inundated. The trick is to send your dispute via certified mail with a return receipt requested to start the clock. And, you need to send your dispute to all 3 credit bureaus.

At the toll of 30 days resubmit your dispute with a copy of the receipt and demand that they remove the matter in dispute not only from their computer but also their back-up tape. If it is not removed from the tape which is actually a loop, the information that has been "removed" will reappear as it has not been purged.

Another thing, the 7 year rule is also true. However, derogatory data does not simply fall off of an individuals credit report with out the individual requesting it. Again, to all 3 credit bureaus.

Answer 4

To answer your question yes it is true that if they can't validate the debt within 30 days they are supposed to remove it but weather they do or not is a whole different story. Sometimes it takes a lot of work to get it off even if they can't validate.

Will they be able to validate? Well that depends on the collector. Some buy the debts for pennies on the dollar from the original creditor or other collectors and don't keep very good records. They are just hoping that a good percentage of the time they can get people to pay without having to validate and when you ask they just fold....but they sell your debt to someone else to recoup their losses, and you start all over.

I don't trust debt collectors at all so I would always request validation. If they can validate and it is yours then Own up to it and pay it off but only if they agree in writing to delete the entry from your credit report in return.

Answer 5

Not exactly. If you actually do owe the debt, it can be considered fraud to have it removed by technicality. If it is inaccurately reported to the bureaus and reflects this on your credit report you should file a dispute with all 3 credit bureaus (the bureaus have 14 days to respond to the dispute) as well as sending the same dispute letter to the creditor. Many times the 14 days isn't really long enough but doesn't mean that the debt will be removed or go away. If the debt isn't yours its easily removed by the process listed above. If its your debt but inaccurately reported, that can also be fixed by the process above. Hope this helps. Dave

Answer 6

Yes, it's true and it can happen. Sometimes the creditors simply fail to respond to the credit reporting agency's notice, and when that happens the agency will remove the report. However, it could go back on. Read the official advice at the link below.

Keep copies of your letters, and send the one to the credit reporting agency by certified mail.

Answer 7

actually deliver out the dispute letters on the collections. If not something, it buys you a pair weeks time. do not tell the credit bureaus approximately them in the event that they don't respond although. actually attempt to barter the balances on those collections. in no way deliver a fee until you have a written payoff volume from them first. in no way. until now you attempt to barter, determine you pays them via Western Union or something interior 24-40 8 hours, so have funds waiting. initiate offering 10 cents on the dollar, they are going to probably talk you to 50 (0.5 of stability). do exactly not pay til you have a fax or something confirming it, in any different case 2 years later somebody will come after something. as quickly as you have paid all of them, dispute the money owed with the credit bureaus. Any inaccuracy of any variety is okay to dispute. maximum creditors won't respond to disputes on paid money owed. this variety, the bureaus are required to get rid of them out of your document. If it would not artwork the 1st time, keep attempting. It takes 40 5-60 days for each cycle, although that is properly worth it. toddler help could in easy terms look on your document in case you have a delinquent stability. the only thank you to sparkling that's to speak with the county you're paying. while you're set up on a plan to get caught up, and characteristic been performing as promised for 6-365 days, you've got the skill to get them to quit reporting the delinquent stability, on the grounds which you're effectively now "paying as agreed". Dispute the previous due money on the non-public loan. Make your lender prepare it by some potential. some lenders delete particular records on money after some volume of time. call for to appreciate the dazzling date each fee replaced into surely published. call for to appreciate the dazzling time the examine replaced into gained via them. If those dates do not tournament, dispute the previous due document. call for something you may think of of. See what happens. try, try lower back.

Answer 8

You need to check out this video on how to increase your credit score by using a 100% legal loophole. Here is the video URL: http://www.creditscoresecret.org

I was able to get to 595 from 489 in just one day and from 489 to 748 in just a few week; that's pretty fast in my book. Good luck!

Answer 9

There is a pretty good chance that they will respond because this is a fact, so they have specific departments set up to get the responses back out to you.