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Created August 26, 2023 19:10
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Financial Education :: Credit :: Personal :: Courses :: Free DIY Credit Repair Course - Learn How To Repair Your Own Credit :: Module 3: Starting Your Disputes
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readme.md

Financial Education :: Credit :: Personal :: Courses :: Free DIY Credit Repair Course - Learn How To Repair Your Own Credit :: Module 3: Starting Your Disputes

⪼ Made with 💜 by realpolyglot.com

Module 3: Starting Your Disputes

Tracking and documentation are crucial

  • Track in a spreadsheet
  • Create a folder for each bureau containing:
    • Copy of each letter
    • Copy of each response
    • Copy of each version of credit report

Always communicate by mail

  • Some legal rights only apply when using written, mailed letters
  • Avoid communicating by phone, email, or website
  • Take photos of all letters before mailing them

Personal Identifier Letters (First Step)

can detach you from bad accounts & negative information

  • Fix any incorrect personal information in your reports by sending a personal identifier letter as a first step
  • Send a letter separately to each bureau or agency

Supress and freeze data miner reports

  • Before sending dispute letters to the credit bureaus:
    • Send your personal identifier letters
    • Suppress or opt-out of all data miner agencies
    • Freeze all data miner credit reports
  • Wait 20-30 days before sending dispute letters
    • Can work directly with creditors during this time (see Module 4)

First dispute letter (20-30 days later)

  • Open the dispute files you created in Module 2
  • You will start with one letter to each of the 3 bureaus

Repeat the process for each of the 3 bureaus

  • Tailor each letter to exactly what is in the bureau's report
  • Use a dispute letter template to help you write an effective dispute

Expected timeline

  • Each bureau has:
    • 35-45 days to investigate
    • 5 more business days to send the results
  • Expect responses in 30-55 days
  • You will receive a response and a new copy of report

What to look for in the letter

  • Disputed items may be listed as:
    • Verified
    • Deleted
  • A Verified label does not prove the bureau actually checked the information thoroughly

What to look for in the letter

  • Compare the new copy of your credit report line by line to the previous copy
  • Look for:
    • Disputed info that remains
    • Disputed info that was deleted
    • Any other changes

What to look for in the credit report

  • Compare all 3 bureau credit reports to each other and note any differences
  • Any discrepancies indicate incorrect info that legally must be removed until corrected
  • You may need to send new dispute letters if you find new discrepancies

Documentation is essential for success

  • Continue documenting and tracking all letters
  • Save scans or photos of every letter
  • Record each response and its results
  • Track every item in a spreadsheet

Method of Verification

When disputed info remains in report

Bureau must thoroughly document their verification process for any disputed info. They must send you proof of this verification when requested.

  • Send a Method of Verification request letter
    • If the response lists the info as verified
    • If any disputed info remains in the report
  • Must be received within 15 days of the conclusion of 1st dispute
  • Best to mail next day after receiving response

Dispute Process

  • Write separate letter for each bureau as needed
  • Use a Method of Verification letter template to help you write an effective letter
  • Take photos and then mail with USPS tracking
  • Document and record in tracker
  • Wait for and track responses
  • If insufficient documentation of verification method is received, you can file a complaint against the bureau
    • We'll explore complaints in a later module

My Tasks

Comlete the following steps

  • Complete steps 6-7 in your workbook
  • Prepare your first dispute letter for each bureau
  • Document and track your disputes
  • Review and track the responses
  • Prepare method of verification requests as needed
  • Review and track the responses
Resources:
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