HOW TO DISPUTE NEGATIVE ITEMS ON YOUR CREDIT REPORTS

HOW TO DISPUTE NEGATIVE ITEMS ON YOUR CREDIT REPORTS
Strategies For Small Business is not authorized or licensed to be your credit report consultant, but we are happy to give you some brief information on how to attempt correction of some of the negative items on your credit report. Be prepared to spend some time on this, especially since the credit reporting bureaus are not the easiest companies to deal with. But you'll thank yourself for doing so-it is extremely beneficial for your credit standing and ability to receive credit/loans with lower interest rates. We find that the people that are willing to spend the time in this process, can substantially help their credit standing.
In the credit world, there are three major credit reporting services you will be dealing with: Experian, Equifax, and TransUnion.
You must have an abundance of patience in dealing with these companies. You cannot always get quick answers or responses. However, our experience is that great benefits come to the diligent among us. Keep trying and you will thank yourself for the effort. So what is the point? While it is theoretically possible to dispute items by phone or mail, this is the longer and more difficult method (especially with Experian). Since it will not do any good unless you make changes to all free credit reporting services, our experience indicates the best way to register your dispute is online.
According to law, after you make your dispute to the reporting service, they will notify the creditor and give them approximately 30 days to respond. They can either state the information is correct or is erroneous. If the creditor does not respond or admits it is erroneous, the good news is the information will have to be deleted.