Have You Considered Challenging Negative Items on Your Credit Report?

Learn How to Challenge Your Equifax Credit Report

Would you like to remove those nagging negative items from your credit report?

Your first step is to obtain a copy of your Equifax Credit Report and look for errors, inaccurate items, undesirable information, and/or information that is misleading. Damaging credit items include:

third party actions involving charge-offs

judgments

bankruptcy and included in bankruptcy

home foreclosures

repossessions, i.e. auto, boat, or other personal property

wage garnishment

late payments

collection accounts, settled accounts

public records/judgments

A dispute letter to Equifax is the next step. You should draft a letter which outlines your reason for believing the reported information is inaccurate. Be sure to include your personal information in the letter.

Finally, you will need to wait 30-45 days to receive Equifax’s determination.

Should I Do Anything Else?

If Equifax removes the negative entry, don’t stop! Continue to clear up any remaining negative items. Lastly, be sure to clean up any inaccurate personal information, such as addresses and employment information.

Equifax will delete any negative item that cannot be verified. Be aware that Equifax, when notified by creditors, will update items on your credit report. Depending on what the creditors report, this could be bad or good information. For example, Equifax might revise your credit report to show additional late payments.

If you lose your Equifax dispute, the negative items will stay on your report possibly for the next 7-10 years. If this happens, you still have some options to continue the credit repair process.

Methods beyond a simple dispute are more advanced and require the help of a credit professional. Some techniques an attorney might use include negotiating directly with the creditor, payment for deletion, or debt validation.

It is important to understand that creditors are not required to report credit history to credit bureaus. Only credit bureaus must follow the law requiring the seven year limit. Therefore, an experienced attorney may be able to convince a creditor to remove a negative credit item.

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