Saturday, October 21, 2017

How to Dispute TransUnion

To dispute a bad credit item on your TransUnion credit report you must use the dispute process. This is done by hiring a service or creating a dispute letter.

You need to know that you must dispute an item with each credit bureau. If you fail to do this and only dispute TransUnion then your Experian and Equifax credit report will still show the item.

In your letter you need to include what item you are disputing and the reason for the dispute. Reasons include; item out of date, information is wrong, account paid, and more.

When TransUnion gets your dispute they will conduct an investigation. During which the lender is contacted and asked to verify the dates, the account, and the balance.

If the lender is unable to verify the account then the item must be erased from your credit report. Often an investigation will result in the removal of a bad credit item.

If your account is verified by the lender then if you have a service this can be very beneficial. A service is able to use advanced dispute techniques to remove items. These techniques are; escalated dispute information requests, creditor direct intervention, and debt validation.

Many people are concerned with credit repair being legal or not. Credit repair is in fact legal the Fair Credit Reporting Act that Congress passed gives the consumer the right to dispute any item on their credit report that they feel is inaccurate.

We recommend saving all your communications with TransUnion. Also the credit bureaus have started allowing people to dispute items online, we have found this to be an ineffective way of disputing items on your credit.

Also there is a 100 word statement that you can put on your credit report next to a derogatory item. In the past this was a place where you could provide an explanation as to why the account became delinquent.

Today it is very rarely looked at by lenders and is more often used by the bureaus. The bureaus see this as an admission of guilt and will ignore any letters you send to dispute and remove this item; your letters will be deemed frivolous.

In sum you can dispute and remove bad credit items on your credit report. You do not have to just live with bad credit.

For more about how to proceed with a TransUnion Dispute or for a review of Lexington Law a suggested credit repair service visit us.

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