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Originally Posted by intelligent
He is right.
One you dispute with the credit reporting agencies, they they will send a letter to the institution that screwed you and they have to PROVE themselves by giving the credit reporting agency actual proof within a certain pr of time. If they don't report back than that thing gets taken out of your record. BTW, no one has time of staff to provide the credit reporting agency of "PROOF" so 9/10 the consumer wins.
Am I right MedMech? |
About 50%
What you describe is supposed to be correct but it doesn't happen that way. When you dispute the information the credit reporting agency send a request which is usually an email and the company that reported the item will report back as removed, amended or verified as accurate. Sometime you luck out and they will not respond and it will go away, other times they will do what you say and remove it but that is very rare today.
The best thing to do is use a BANK and have them verify and remove the inaccuracies credit agencies trust banks so we have the direct line to the agency.
I rarely see a credit report without some sort of inaccurate negative data. people should check their credit report at least once a year. Even if you are not having any problems getting loans something is still lurking out there. I have seen people with $75K a month incomes with $35 dollar medical collections. Banks ignore medical collections BTW.