Remove Collections From Your Credit Report
You will have to dispute the collection to have the credit bureaus remove it from your credit report. You must file a dispute directly with the bureaus.
You will have to create a dispute letter and send it to each credit bureau. In your letter you have to say what mark you are disputing and give a reason as to why that mark is inaccurate.
Then a copy of this letter must be sent to each credit bureau. When the bureaus receive your letter and deem it valid they will investigate the disputed mark.
Often an instigation results in the removal of a bad credit item. This happens because many collection agencies and lenders will not spend the time or money verifying a disputed debt.
If your dispute is verified then having a credit repair service can be very beneficial. They can use advanced dispute techniques to remove a bad credit item. These techniques include; debt validation, escalated dispute information requests, and creditor direct intervention.
What is a collection?
A collection will occur approximately after 6 months of delinquency. It is a lenders last resort to recover payment.
Many lenders have an in house collection agency. In addition it is common for them to outsource their collection efforts or to outright sell your account to an agency.
These agencies will purchase your debt for a fraction of the balance or they will work together with a lender. This means they will collect on behalf of the lender and receive a percentage of all the money they collect.
Be aware that if you just pay a collection it will remain on your credit report. It will change the status of the collection but paying it will not remove it from your report. Future lenders will still see the mark as a negative item even as a paid collection.
In sum you do not have to live with bad credit marks on your report. You can dispute them and have them removed by the credit bureaus.
You will have to create a dispute letter and send it to each credit bureau. In your letter you have to say what mark you are disputing and give a reason as to why that mark is inaccurate.
Then a copy of this letter must be sent to each credit bureau. When the bureaus receive your letter and deem it valid they will investigate the disputed mark.
Often an instigation results in the removal of a bad credit item. This happens because many collection agencies and lenders will not spend the time or money verifying a disputed debt.
If your dispute is verified then having a credit repair service can be very beneficial. They can use advanced dispute techniques to remove a bad credit item. These techniques include; debt validation, escalated dispute information requests, and creditor direct intervention.
What is a collection?
A collection will occur approximately after 6 months of delinquency. It is a lenders last resort to recover payment.
Many lenders have an in house collection agency. In addition it is common for them to outsource their collection efforts or to outright sell your account to an agency.
These agencies will purchase your debt for a fraction of the balance or they will work together with a lender. This means they will collect on behalf of the lender and receive a percentage of all the money they collect.
Be aware that if you just pay a collection it will remain on your credit report. It will change the status of the collection but paying it will not remove it from your report. Future lenders will still see the mark as a negative item even as a paid collection.
In sum you do not have to live with bad credit marks on your report. You can dispute them and have them removed by the credit bureaus.
About the Author:
For a free sample dispute letter to remove bad credit items on your report or to learn how you can remove negative marks such as a charge off visit us.
posted by Credit Counseling at
3:17 AM
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