You’re about to learn how to dispute credit report errors like a pro.
This method works even if you’ve disputed something 100x and failed.
You might be thinking that this sounds too good to be true and that’s understandable.
There are a lot of pretend credit repair experts offering bad advice on the internet.
However, by the time you’ve read this entire article you’ll agree that I’ve delivered on my promise.
With this knowledge it is possible to ethically and legally remove any error from your credit report including late payments, collections, inquiries, charge offs, repossessions, foreclosure, and even bankruptcy.
Considering that your credit scores are the single largest factor in determining what you’ll pay for home, auto, and business financing, this information could save you a fortune in interest payments.
Worse yet, a credit error can even keep you from landing a high paying job.
This proven method has been battle tested and is used daily by leading credit repair services such as US Credit Advocate.
Before I explain how it works, I first need to explain why the standard dispute strategy isn’t the most effective option available to you. Next I’ll explain why our strategy works better. Lastly, I’ll show you how to put it to work for your own benefit.
First let’s talk about…
The Problem With The Standard Dispute Method
When you dispute a credit error by arguing “I wasn’t late” or “this isn’t mine”, what you’re doing is asking the credit bureaus to investigate if the creditor has their facts straight.
All the credit bureaus are going to do is notify the creditor of your dispute using a 3rd party service called E-Oscar.
The creditor is expected to investigate themselves.
Your results depend on whether the creditor fails to verify the data as accurate within the 30 days legally provided to respond to your dispute.
The strategy isn’t completely useless, since statistically you may see some deletions just because you sent a dispute. But this method leaves your results to chance.
A far more reliable strategy is to leverage your legal rights to compel the credit bureaus and your creditors to remove a credit error.
Let me explain how it works…
Don’t worry. I’ll keep the legal mumbo jumbo down to just three sentences.
How to Dispute Credit Report Errors “Legally”
The Fair Credit Reporting Act (FCRA) is the federal law that governs how the credit reporting agencies can use your information.
It was designed to protect the integrity and privacy of your credit information.
The FCRA also protects your right to access and correct any inaccuracies in your credit report and provides you with remedies if a credit reporting agency or information furnisher violates your rights.
The problem is that most people have no idea what their rights are.
Like a chicken staring at a wrist watch, the average person could be staring at a credit report violation and have no clue what they were seeing.
Recognizing violations and using them in your dispute language is how to dispute credit report errors legally. You leave nothing to chance.
The Top 5 Most Common FCRA Violations
At US Credit Advocate, we look at a ton of credit reports every day, so we’ve developed strategies for finding violations.
We use a checklist which puts the most common violations in order of appearance.
This helps us to find them as quickly as possible.
Based on our findings, and the feedback from our attorney partners, here are the top 5 most common Fair Credit Reporting Act violations:
1. Balance after payment in full or settled for less than full balance.
This happens when a consumer pays off their debt either in full or a negotiated amount, but the data furnisher still reports an unpaid balance due to the creditor.
The account should be reporting a zero balance.
2. Balance after 1099c issued.
When a creditor charges off an unpaid balance, they take a loss for book keeping purposes.
They will often send the consumer a 1099C for the income earned.
Once a 1099c is issued, they may no longer make any attempt to collect on the debt.
Any balance reporting after the 1099C was issued is an attempt to collect a debt and is a violation.
3. Lates after charge off .
A creditor charges off a debt but continues to report additional monthly delinquencies on the consumer’s credit report.
Once the debt is charged off, no further delinquencies should be reported.
4. Balances with multiple creditors for same account.
The account was sold to a debt buyer or different creditor but is showing as still owed to the original creditor.
The original creditor is still reporting the balance owed.
The account should be listed as transferred to another lender and the original creditor should report a zero balance.
5. Short sale reported as foreclosure,
A short sale occurs when a lender accepts a negotiated amount as settlement on the debt.
A foreclosure occurs when the property is sold at auction leaving the debtor responsible for the unpaid portion.
A short sale may not be reported as a foreclosure.
How to Spot and Document Your FCRA Violations
If you want to know how to dispute credit report errors, you first have to find them.
We always encourage our clients to maintain a credit monitoring service like *www.identityiqreport.com. This service makes it very easy to spot most violations.
Credit Karma is better than nothing, but it is missing a lot of information and is very hard to read.
For example. If you count the total pieces of information on Credit Karma, you’ll find there’s only 18.
www.identityiqreport.com, on the other hand, provides 24 data points.
The more data you can see, the more violations you can find.
You also must click back and forth between the 2-bureaus offered on Credit Karma, which makes it hard to compare accounts.
The accounts on www.identityiqreport.com are laid out side by side. This makes inconsistencies standout between credit bureaus.
But a credit monitoring report isn’t enough to win.
You need actual reports direct from each bureau.
The credit bureaus have no control over how their data appears on a 3rd party service’s report, so you have to confirm your findings by disputing and reviewing the responses the credit bureaus send.
This is How To Dispute Credit Report Errors And Win
This strategy is by far the most effective and will increase your chances of winning by 100%.
When you spot a violation, then the credit bureaus MUST remove it. If they don’t, both the credit bureau (and even the data furnisher) can be subject to litigation.
The penalty for violating your rights could be anywhere from $1000 to _____________. There is actually no limit to how big the penalty can be. It depends on the damage you suffered as a result of their negligence.
The largest settlement to date was $60,000,000.00 which TransUnion paid in 2017.
The best part? None of the credit bureaus have taken any real steps to fix the problems which caused the errors.
Until they do, this method will continue to work.
That's the real secret to how to dispute credit report errors...
The credit bureaus are corporations in the business of maximizing profits.
Take away from their profits and you'll compel them cooperate.
Violations Are More Common Than You Can Imagine
Much of what we do here at US Credit Advocate is look for violations.
Instead of wondering how to dispute credit report errors, you just hand it off to us.
When we find a violation, we hand it to our attorney partners for enforcement.
Violations are so common that attorney partners can average over 300 suits annually against the big three credit bureaus.
Are YOUR Rights Being Violated?
There is no cost or obligation to buy anything.
We'll show you the possible violations, explain how to dispute credit report errors, and even connect you with one of our trusted legal partners if we believe you have a case.
Our legal partners work 100% on contingency. They only get paid if they win a settlement in your favor.