Learn How to Challenge Your Equifax Credit Report

Are you tired of the bad credit reported on your credit report?

To begin with, you will need to request a copy of your Equifax credit report so you can review its contents for negative and inaccurate entries. Entries that damage your credit include:

third party actions involving charge-offs

judgments

bankruptcy proceedings, such as Chapter 7 or Chapter 13

home foreclosures

repossessions – auto, boat, or other property

payroll garnishment

payment inconsistencies

collections, paid collections, settled accounts

public records/judgments

Your second step is to write an Equifax dispute letter. You will need to include your personal information and reason for the dispute. In other words, you need to say why you believe the information is inaccurate.

The final step is to wait 30-45 days for the results.

What Happens After I Mail my Dispute Letter?

If your dispute is successful, continue the process to attempt to remove all negative entries from your credit report. Once this step is completed, clear up any remaining issues, such as discrepancies involving personal information.

If your dispute is successful, the negative item in question will be removed by Equifax. At times, a credit bureau will revise items on your credit report after they have been contacted by your creditors. This information can be good or bad, depending upon the creditors’ reports. For instance, your credit report might be revised to show that an account went to collection.

If you lose your Equifax dispute, the negative items will stay on your report possibly for the next 7-10 years. If this happens, you still have some options to continue the credit repair process.

At times, a simple dispute is not effective and more advanced methods are necessary. At this point, it is wise to seek the advice of a legal professional who can employ methods such as payment for deletion, debt validation, or possibly even negotiating directly with the creditor.

Keep in mind that credit reporting by a creditor is voluntary, while the seven year limit is imposed only on credit bureaus. As such, a convincing attorney can often persuade a creditor to erase a negative item from your credit report.

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