Help please. I have 2 amex accounts back from 07 that I settled for less than amount owed. What is the best strategy to dispute these items on my credit report or is it just a waste of time? Thanks
FWIW, I had a Capital One account from 2004 that I settled early last year. I disputed it with the CRAs, and it's now removed from all three reports. Couldn't hurt to try.
I used the CRAs' online dispute sites: Experian | Credit Dispute Equifax Online Dispute: How To Dispute Your Credit Report TransUnion Personal: Credit Disputes – Submit a Dispute, Check Dispute Status and Understand the Credit Dispute Process. If you have any TLs that come back as "verified", THAT is when you should send a CMRR asking for an explanation of the verification. I can't remember the CA / OC, but one of mine didn't go away immediately. I had to send something simple like "On __/__/__ I disputed the above entry on my credit report. On __/__/__ you reported this entry as 'verified'. Said entry is incorrect; please mail all supporting documentation to the address above or remove this entry from my report." About a week after they received my letter, the entry was deleted. I think the secret is to fly low on the radar and not come off as one of those delusional nutjobs who threatens to sue everybody. Remember, however, that this all comes back to how good companies are at maintaining & providing their paperwork. If the debts are legitimate and the information is accurate, and they can prove it, they don't have to come off.
ok - so I disputed them under not my account. If that comes back verified, whats the next best way? I beleive you suggested to send a letter back saying that is not mine and ask for proof, right? Thanks for your help.
Excellent - "not mine" is the right way to dispute. It may take 30-45 days to verify your stuff. Sometimes if you're just disputing one entry, it'll only take a week or two. If they do verify, then yes, a letter is in order. You'll want to send the letter certified w/ signature card. But you're getting ahead of yourself. Let's see what happens with the verification first.
Actually, targeting certain data fields is the best way to dispute if it's your debt. Once you've said "not mine" and they've proven it is, you're not going to get to dispute anything else. Dispute dates, balances, status, things like that. Many times they are wrong and won't be verified. But if they verify that it's your debt and you've said "not mine" you're pretty much out of luck.
Interesting - some said dispute not mine others said dispute fields. I did get the old address off so I thought not mine would be the better way to go.
If you dispute as not mine then why did you pay it?So they will look at it as, he paid it so it must be his.You dispute the contents not the overall.In the past you could get away with not mine but they caught on to that and keep better records now!
thanks jjgross. Any thoughts on which fields is best to dispute? I dont believe any of them are incorrect.
That's really the point of disputing as "not mine". Saying "if it isn't yours then why did you pay it" doesn't really apply, IMHO. By saying "not mine", all you're really saying is that there's incorrect data on your report. The FCRA says the CRA "shall, free of charge, conduct a reasonable investigation to determine whether the disputed information is inaccurate". To use the person's credit report as an investigation tool, especially in this method, is reciprocal logic at best. In other words, a CRA can't just say "This entry is already on the credit report. Therefore, it must be valid and shall remain."
I disagree. I disputed a Sallie Mae loan as "not mine", and when it was verified, I disputed the payment history. Had all but one of my late payments stricken. The FCRA doesn't make any provision that I can see for allowing the CRA to determine who does and who does not get afforded an investigation.
I sort of diagree with you.If you dispute as not mine because of content than that's a different not mine than a blanket not mine.yeah i'm trying to confuse you.
jj gross - any thoughts on which fields are best to dispute? do I dispute more than one field at a time or just one field? thanks sorry for asking so many questions
You can challege date's, balances,address's,payment history,names.Dispute one item at a time,bscause it may take 6 months to get it removed.
And you did -- but that's fairly easy! I never give reasons when I dispute anything, and I never tell them exactly what's wrong. I just dispute as "not mine", and that's that. I disputed my Sallie Mae loan as "I have never had a late payment" and all but one of those were removed, but otherwise I make the CA / CRA do all the legwork. Why help them out?
I don't give them a reason until it comes back from the oc,but i only give them part of the dispute,And your right let tnem do the work that they don't want to do.
