Assessing the Damage
Your first move is to get copies of your credit report from all three bureaus using the addresses or websites listed in chapter 3 of this guide. Make sure you obtain all three separate reports and do not opt for a “3 in 1†or “tri-merged†report that combines information from all three reports together. Although these merged reports are helpful to lenders they may not have all of the information that is pertinent to you listed on it.
You should also follow the steps listed in Chapter 3 of this guide for reviewing and analyzing your report, noting any problems that you would like to dispute with the credit bureaus. Especially look for:
• Delinquincies that are older than seven years or accounts listed as delinquent that don’t include the date of delinquency
• Bankruptcies that are older than a decade or that aren’t listed by the specific chapter
• Judgments or paid liens older than seven years
• Paid off debts listed as unpaid
• Accounts that were wiped up by a bankruptcy filing still listed as past due instead of as included in bankruptcy
• More than one collection account for the same debt
• Collection accounts that don’t show the date the original account went delinquint
• Any accounts, delinquencies, collections and so on that are on the report and aren’t yours!
When its time to actually dispute the error you find you have a choice about whether to request changes online or by snail mail. There are two theories of thought on which is best …
Some credit repair experts say you should use the online dispute process that’s available when you get your reports via the Web. The reason is that they believe there is less likelihood for their disputes getting lost in the system because the electronic process usually transfers the complaints directly into the computer system.
If you choose to complain online then make sure you make printouts of every form you fill out and every response you get back. Doing so establishes a paper trail that can be helpful if you run into problems.
All correspondence with lenders, bureaus, creditors and especially collection agencies should be in writing and sent certified mail with a return receipt requested. This is more satisfying to the courts if you should happen to have a legal case.