Fight Credit Bureau Disputes And Immediately Increase Credit Score
The goal of this article is to give you a good understanding of credit bureau disputes. Make sure that you copy this article and hide it in a safe place. I guarantee you once the credit bureaus find it they will have it removed. They do not want you to know how things REALLY work. Keep reading and pay close attention as I pull back the curtains and reveal the truth right before your eyes.
If you were to be foolish enough to believe what the media has to say you would think that the credit bureaus are set up to help the consumer. If you believe that then I guess you also believe in the lockness monster, or maybe bigfoot.
Looking at the big picture from the outside looking in, it would appear that the credit bureaus are setup to help the consumers. Although that is a noble idea it couldn’t be further from the truth. A wise person once said that you should never bite the hand that feeds you. The credit bureaus are no different – they will never bite the hand that feeds them.
I think you would be shocked to know that the credit bureaus make little to know revenue by helping you. There is absolutely no benefit for them by assisting you to repair your credit. It is crucial that you remember that the credit bureau dispute process isn’t their main stream of revenue and they do not have your best interest at heart. The main purpose of their organization is to collect your information and sell it to other businesses. Since you now have a basic understanding of the credit bureaus main objectives it should be clear to you that you have to take matters in your own hands. At the root of it all the credit bureaus are a business and their goal at the end of the day is to make a profit.
Let’s build on what we have learned so far. We now know that the credit bureau’s are big business, and the goal of all business is to make a profit. With that understanding take a moment to consider that if the credit bureaus where to help you they would make nothing. However selling your information to other businesses they make boat loads of cash. The bottom line is it’s all about the money and you are the one that ends up loosing out if you don’t understand how things work.
The credit repair battle is fought on two fronts simultaneously. The first front is the battle for establishing new lines of credit. This is a pretty easy battle and can be won rather quickly. The second front is paper battle that is fought via credit bureau disputes. This is a series of written letters that you use to dispute your claims. Although this process may seem a little grim from the onset there is a little light at the end of the tunnel. There are a few laws in place that will force the credit bureaus to meet certain guide lines.
Once you have mailed out your letters of disputes to the three credit bureaus by law they have 30 days to investigate and respond to your claims. If by chance they should fail to do so by law they also have to remove any dings that you have disputed.
A recent study showed that 93% of individuals that attempt to repair their own credit will use a template that they found online for their credit dispute letters. This can be a rather costly mistake, because the credit bureau’s are aware of the online templates and it sends up a flag. It instantly notifies the credit bureaus that you don’t know what you are doing. That’s when they pull out their arsenal of tricks that they will use to trick you into extending the 30 day process. For example they will give you a friendly little call asking questions about your dispute letter.
On the outside this may seem like a harmless call. In reality this call is done to reset the clock on the 30 day’s that they have to process your claims. The best way to avoid getting caught up in the bureaus games is to not communicate with them at all once you have filed your credit dispute letters. Let the 30 days elapse before you make your next move.
I hope you have found this article to be helpful. If you are interested in learning more about the credit repair process visit my blog here. If you are ready to start the credit repair process download my credit repair kit here.
