How do you clean your credit report when dispute letters fail ?
Sunday, December 20th, 2009 at
4:36 am
I need to clean my credit reports, all 3 bureaus, I have been late in 2 mortgage payments this year, bringing my score to about 530. I need to have it to 620 or more. I have written dispute letters, did not work to clear entries in reports.
you can’t dispute your credit report if your late with payments
report will only show what has happened
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If you were really late why are you trying to dispute it? You admit it yourself that it is your fault. The only way to do what you ask is to go to the bank, who holds your mortgage and ask them to correct it. But if you were a jerk and didn’t pay your bills on time then they will not give it to you.
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If you were late and it’s reported on your credit, then there isn’t anything you can do other than attempt to beg the lender to change it.
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Dispute letters can only work on erronous information. The law requires credit bureaus to verify that info is correct. If you have late mortgage payments that are correctly reported, you need to talk to the mortgage lender. They have the power to delete CORRECT info from your reports. Some institutions will bend some won’t
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David H is mostly correct. He’s wrong about Credit Reporting Agencies verifying that information is correct. They do not investigate anything. All they do is contact the creditor and "verify" the information is correct. If the creditor said it is, then the listing is now "verified" and they will not do anything about it.
It is up to the consumer to fight with the creditor. They are the only people who can edit/delete any credit listing.
If the listing is correct, there is nothing you can do to get it removed. You can place a statement into your credit report explaining why you were late/didn’t pay, but it rarely sways a creditor who is looking at your report. And credit scoring does not even recognize the statements, so it doesn’t help that at all.
Your only hope is if you send a dispute letter to the credit bureau, the credit fails to respond to it. In those cases the listing is deleted.
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you can’t dispute your credit report if your late with payments
report will only show what has happened
References :