Until you dispute an error on your credit report to the Equifax and the other agencies, the law is not fully on your side. BUT... If your dispute fails, you may be entitled to force them to correct the problem, pay your attorney and you damages under the Fair Credit Reporting Act.
Find the error or inaccuracy. It must be wrong or misleading.
Dispute with credit agencies such as Equifax, Experian, and Trans Union. A template is included in this article below.
If they don't fix it, then you may be entitled to damages and can bring a lawsuit in many circumstances.
You are going to need to pull your credit reports to see what is going on. Luckily for, it is not that hard to get these for free. The best place to start is to go to annualcreditreport.com. It is a free service where you can review all 3 of your credit reports. Of course, there are some online services such as creditkarma.com and freecreditreport.com. The main thing is to review all 3 reports, and do not pay to get your reports.
Quick note on credit scores: Do not pay to get your credit score. The online services above will provide it for free.
When you have your reports available to look at, you are ready for the next step.
That's basically when they're saying that you've missed some payments, and you didn't miss the payments. It happens a lot, and it can crush your score.
For example: Let's say you have a mortgage with Chase. You see your credit report and it says you have missed 3 payments. But, you know you made the payments... and have the receipts. This is a great example of when to dispute Equifax and the others and to be prepared to sue Equifax and any creditors who falsely report on you.
This happens a lot, and this is obviously when you've paid off an account but for some reason, it's still showing a balance that you owe. Again, follow the instructions in this book but don’t include the police report but DO include any proof you may have. Remember to send it to everyone including Equifax and the creditor during the dispute.
Example: Imagine you once bought a nice TV on store card. For months and years you paid the balance until once day you finally paid it off. What a day! However, you start getting mail from a debt collector. you start getting calls and voicemails. They sold the file to a collector who doesn't know you paid it off. To make matters worse, they start credit reporting on you. You need to dispute your Equifax credit reporting to get this corrected. We have provided a template below to get you started.
Seven years is correct if it's a normal account, and ten years if it's like a judgment or a court issue, like bankruptcy. That is improper. You will want to mail a basic dispute letter explaining the issue and send it to the credit bureaus including Equifax, Experian and Trans Union and the business/creditor.
For example: Let's say you have a Credit One credit card and you stopped paying in January 2000. This information should come off of your credit report in 2007. If it is still there after that, you may have a claim for damages and force them to fix the errors.
4. Accounts that are not yours and identity theft. They're both accounts that are not yours. This is the topic of the book and is covered in other chapters. For more information on hiring an identity theft attorney in Atlanta.
For example: You go to buy your first house with your new wife, a small house on a quiet road. When your application comes back denied, you are confused. Everything was great, you thought. What you didn't know is that someone opened and accusation under your name and didn't pay the bill. Your credit is ruined. You need to dispute your Equifax credit reporting to get this corrected. We have provided a template below to get you started.
5. Accounts that are not yours and identity theft. They're both accounts that are not yours. This is the topic of the book and is covered in other chapters. For more information on hiring an identity theft attorney in Atlanta.
You need to dispute your Equifax credit reporting to get this corrected. We have provided a template below to get you started.
Equifax Information Services LLC.
P.O. Box 740256.
Atlanta, GA 30374
[YOUR FULL NAME]
[YOUR FULL ADDRESS]
[DATE OF BIRTH]
[LAST 4 OF SOCIAL]
I looked at my report and this [NAME OF ACCOUNT] account with a balance of approximately $[BALANCE], and account number [ACCOUNT NUMBER] is not accurate.
OPTION #2 [USE THIS FOR ALREADY PAID OFF ACCOUNTS:] I already paid off this account and do not owe any money on it. Please take it off of my credit report immediately.]
OPTION #3 [USE THIS FOR ACCOUNTS AFTER BANKRUPTCY WITH A BALANCE:] I filed for bankruptcy. This account should show a zero balance. Please correct this information immediately.]
OPTION #4 [USE THIS FOR MISSED PAYMENTS WHEN ACTUALLY MADE:] I made all of my payments on this account and was not late as they report. Please correct this information immediately.] [INCLUDE ANY CLEARED CHECKS OR INFORMATION YOU HAVE TO SHOW YOU ARE CORRECT FOR BEST RESULTS]
OPTION #5 [USE THIS FOR MISSED PAYMENTS WHEN ACTUALLY NOT ALLOWED TO BE MADE: I tried to make all of my payments on this account but they would not accept them. Please correct this information immediately.] [INCLUDE ANY CLEARED CHECKS OR INFORMATION YOU HAVE TO SHOW YOU ARE CORRECT FOR BEST RESULTS]
Please send all of this to the furnisher of this incorrect account. Have a nice day.
Copy of driver’s license
The report must be inaccurate, incomplete or misleading. This is the first step to winning a dispute with Equifax and/or the other credit reporting agencies if the same error is on those reports. It must be incomplete or misleading.
Problem: I see many people fight information that they know is correct thinking it will be removed. It will not. Worse yet, I see people paying "credit repair companies" to dispute correct information. What a waste of money! Businesses only remove information they find to be incorrect where they can be sued. Period.
This is the second step to disputing Equifax. What you say is here important!
Best Practices: Write down what is going on and what is incorrect. Spell it out in your own words. Just remember to tell the complete story so that whoever reads it will know exactly what you know. Include any bills, checks, documents, or other evidence that helps you. Include other people or places for them to ask or look that helps you prove you are correct.
Problem: Most people only dispute to the business or creditor that provides the information to Equifax. This is a mistake. You should dispute to Equifax if they are reporting wrong info on you.
Problem: Many people try to dispute online. This is a huge mistake. The best way to dispute Equifax is to do it in writing and send it certified return receipt.
This is the third step is to mail the dispute to Equifax. Online disputes to Equifax make it harder for you to bring a case in the future. You don't want that. It's not that online disputes can't work, but these types of disputes are not ideal.
Problem: If they don't fix the errors, you will need proof that you sent the dispute to Equifax. You don't always get that with online disputes to Equifax. Your attorney will also be for willing to bring your case if you have proof of the Equifax dispute.
Problem: You don't get to provide all THE DETAILS YOU MUST INCLUDE to be successful. This requires you to write one or two or 100 sentences to fully describe what you are disputing.
Solution: Just describe exactly what is wrong in your dispute to Equifax and the other credit bureaus, if needed. Then, describe why it is wrong. Plus, show Equifax the documents that you may have. Give them your phone number to call you, as well.
Many online disputes with Equifax or written disputes will fail and will require an attorney to force Equifax to correct errors. That is what we do here. In just a few minutes on the phone, we can explain your rights and your next steps.
Let's see if we are a good fit.
or email firstname.lastname@example.org
Contact Equifax by phone you should call 888-548-7878 this number was obtained from Equifax's website. We never recommend calling Equifax directly. There will be very little record of what happened. You will always want a proper paper trail for any Communications with Equifax or it's almost like it never happened.
This is a question I say asked all the time. Is Equifax a legitimate company or is it a scam? Equifax is very much a legitimate company. Although they may make mistakes, they do pay for those mistakes and litigation and settlement. Equifax is a real business.
If you find a hard inquiry on your credit report that you did not authorize, you should write a simple letter to Equifax and point out exactly which account or inquiry you did not authorize.
It is always best to send this by letter. Further, it is best to send certified mail with return receipt. This way you have proof that you sent the letter to Equifax, and Equifax received your dispute.
You can send the same letter and supporting documents teach the three credit reporting agencies. Just make sure to include the name of each in the letter that you are sending.
Even if you are sending multiple dispute letters, it is still best to send those letters certified mail with return receipt.
That answer depends on whether the dispute is accurate or not. If you are disputing the collections account just because you wish it were not there, disputing a collection account will have no impact.
If however, the dispute is about an actual error on your credit report, then dispute should have an impact on your credit report.
If the error remains on your credit report, you may have a claim for damages under the Fair Credit Reporting Act and the fair debt collection practices Act.
The law requires Equifax to complete this investigation within 30 days. And practice, you will normally get a response within two weeks because of the speed of most of the furnishers that provide the information to Equifax.
What happens, when you send your dispute to Equifax, Equifax will electronically notify the Creditor or collector of the dispute. The Collector will begin its investigation and respond back to Equifax, which will then contact you.
Although there are some humans involved, most of this is done electronically and done within a matter of days if you are dealing with a large company or collector.