Credit bureau updates (rate, dispute, credit report, account)

[Kathreen]

Does anyone have any info on how to speed up the process of updating/disputes in credit file.


Can file be updated without a dispute process.

[FL little foot]

Last year I pulled my credit and hubbys credit from the free yearly site. There was very old data in both of our reports. They were not "automatically" removed until I disputed them. In fact, there were 18 items that the credit reporting agencies(all 3 I did this with) had to remove on my husbands account alone. There were 11 on mine. This took about 30 days. Hope that helps ya.

[Wilson513]

No. The process is the process. However, lenders who have an active application will recast the credit score when they are satisfied that an adverse credit item is not correct. Further, many lenders actually use roll up agencies that combine the 3 reports and give the lender a composite score. These agencies will modify their reports on request from the lenders.

And, take note of my earlier post:

Originally Posted by wilson1010

Heck! This is such a good post it deserves its own thread:

Every single person should do the following every year:

Get a copy of all three credit reports.

Here is where you get it:

http://www.ftc.gov/bcp/edu/resources...tformfinal.pdf

Then, circle and number every adverse credit item on each of the reports. Write separate letters to the issuer(s) disputing every adverse item. Say: "not me" "Paid on time" "never delinquent" "didn't owe the money",etc. Reference the circled items. Include any address with a typo even if its just Street Vs. Avenue. Say "not my address. ". Do not dispute adverse items online. Always paper.

The reporting agency then has 30 days to confirm the adverse item. This can be extended to 60 days upon request of the creditor.

If the adverse item is not confirmed then the credit agency MUST remove it from your report.

So if they can't find your file, or the account got sold, or the bank is closed or the hospital getstired of looking this up or they just run out of time, your credit is improved.

People who do this for a business charge hundreds of dollars (sometimes thousands) and this is all they do. The confirm rate is about 3/4 on correct items. So even if every item on your report is correct, chances are you will significantly improve your score. Now I know this will pi** some people off here, so when you flame me, be sure you have looked it up and can cite any law or regualtion where it is wrong to dispute a valid item on a credit report.