3 Credit Bureau Report – Free Score

John asked:


Who do I send a DV letter to Allstate Adjustment (company I am disputing) or to the 3 credit bureaus?

Erik

Michael asked:


I rent out houses in a college town and have several severly delinquent tenants who owe me thousands of dollars in back rent that I know I will never get….how can I report these debts to a credit bureau/company and collection agency?

Pauline

Susan Jan asked:




Having a good credit rating is important because it allows us many conveniences in life, such as renting property, having credit card, and qualifying for financing etc. However, if you do not pay a creditor on time, your credit report with the credit bureau will be affected, and when your credit rating becomes poor, the above conveniences will no longer be possible. It is imperative that you take immediate steps to repair your credit.

The first step in credit repair is to get your credit report from the credit reporting agency. Once you receive your credit report, examine it closely for any inaccuracies. If you find any discrepancies, you can request an investigation in writing to the agency. The agency must then either respond within 30 days with documentation of the particular discrepancy, or remove that item from your credit report.

An immediate solution to credit repair is to contact your creditor as soon as you become aware of your outstanding debts. Your credit report depends on whether your creditor decides to report you to the credit reporting agency. Usually your creditor will be willing to discuss with you alternate payment options and solutions, because they would prefer to get some payment instead of no payment at all from you. You should propose a realistic payment plan and convince them that you can stick to it.

If your creditor does not accept your new payment terms, then your debt will go to collection, and you will then have to deal with the collection agency. Collection agents are usually more aggressive and may even threaten to take you to court if you do not comply. Bear in mind that collection companies generally buy debts at about half their value, so any payment higher than that is a profit for them. Negotiate ASAP to pay less than the full value of your debt, and collection agents generally agree to a quick payment at a small discount of the value, as they are unwilling to have the process drag on.

Another option is for you to seek the help of a credit counselor. Credit counseling is usually done by non-profit agencies, and credit counselors will advise you on and make you stick to your long term credit repair plans. Good credit counseling organizations also provide workshops, educational materials, and counseling.

Of all the credit repair options, Avoid for-profit credit repair companies at all cost because they are often scams, and propose a one size fits all quick fix. There is nothing that a credit repair company suggests that you can’t do yourself, such as obtaining your credit report etc.

It takes a long time to build a good credit rating, and just a short amount of time to destroy it. There are no quick solutions to a poor credit rating, and you will have to slowly and patiently build your credit rating again from scratch. If you avoid quick credit fixes, and instead focus on long term credit repair, you will eventually gain your good credit back.

Sam

Tayo Binuyo asked:




A good sample credit repair dispute letter is the beginning of a successful credit repair campaign. There are a number of different kinds of credit repair letters. You have dispute letters to the credit bureaus, negotiation of debt letters to collection companies and cease and desist letters. One of the first credit repair letters should be written to collection agency if they are harassing you over the phone.

This is usually one of the first letter’s that is necessary during the course of your credit repair efforts. If you are lucky enough to not have collectors harassing you then you wont be needing the cease and desist letter.

The most popular sample letter for credit repair would be the dispute letter written directly to the credit bureaus. In this letter you are challenging your debt with the credit bureaus, in other words you are telling them to prove that the debt is legitimate and it should be on your credit report.

Below is a sample credit repair dispute letter that can be used to dispute debt with the credit bureaus;

Your Name
Your Street Address
Your City
State & zip code

Credit Bureau Name
Their Full Address

Dear Credit Bureau,

I am writing to formally complain that you are including inaccurate information in my credit report file.

I am upset that you have included this information in my file and have not kept my credit file up to high accuracy standards. The credit laws ensure that bureaus only report 100% accurate information. Every step must be taken to make sure the information reported is complete and accurate.

The following item below needs to be investigated. I would also like to be provided with proof of this alleged item, specific contract or note bearing my signature. If this cannot be provided the item must be deleted from my report as soon as possible:

Creditor Name, Account number (####-###)

Sincerely,

Your Signature
Your Name.

There are also specific mailing instructions that need to be followed when mailing to the credit bureaus. You need to make sure they received your letters and are working on your disputes in a timely manner.

Marilyn