How to Remove Collection Accounts From My Credit Report
May 5, 2009 – 8:32 pm | by adminMany times people are unaware of exactly what’s in their credit report, let along if there’s a collection account in there. There are usually 1 or 2 reasons why a collection account may exist.
- The account went to collections
- Mistaken identity
Fortunately it’s not the end of the world. There are steps that can be taken to get the collection off of your credit for good.
Get a copy of your credit report
There are 3 main credit bureaus where you can obtain a copy of your credit report. These are as follows:
- Equifax
- Transunion
- Experian
Dispute the findings
Each credit bureau operates separately. Therefore having the account deleted from one does not automatically mean it will disappear from all 3. Lenders do look at all three credit reports, so it’s extremely important to follow up with all of them. Not doing so will affect your ability in getting a loan.
Do it in writing
It’s important to mail your dispute in. Do not try to do it over the phone. Writing gives you documentation in case you need it. After they received the dispute, they will investigate the matter. If the investigation is not resolved within the allotted amount of time, the item will automatically be deleted from your credit report.
Fair credit reporting act
Become familiar with this law, before you contact the credit bureaus. It could save you a lot of time and trouble. It’s important to get the facts, so you have all the tools at your disposal when going up against the credit bureaus.
In order to make the required information easily available, we are providing credit related information about credit reports, credit scores, credit monitoring, credit checks, credit cards, free credit reports, credit bureaus, credit counseling, identity theft, and other credit problems in an easy format so that people don’t have to go from site-to-site looking for answers.
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