Repair Your Credit By Disputing

Reader and blogger DDL sends in a story about a “friend named Max” and his successful credit repair strategy. Max raised his credit score 100 points by employing the following technique:

Then, one day, Max read the provisions of the Fair Credit in Reporting Act (FCRA). The FCRA (in so many words) dictates that every person has the right to dispute the accuracy or validity of any item on their credit report with the three credit reporting bureaus (Equifax, Experian, and Transunion). From the date that each bureau receives notice of the dispute, the bureau has 30 days to investigate the dispute. If, at the conclusion of 30 days, if the bureau cannot verify the accuracy of the information in that person’s credit report, or the investigation just doesn’t get completed in time, the offending item is automatically deleted. Gone. Done. Case closed.

Max started his journey with a credit score in the low 500s, and now, in a matter of months, it had crested above 600. Eventually, and through great discipline, Max managed to eliminate every negative item on his credit report, simply by asking for proof that they belonged there in the first place.

As a result, Max’s credit score improved to the point where he was able to buy a new car and move into his first house. Before losing contact with Max, I could tell that he had learned from the foolish mistakes of his youth and appreciated the opportunity to reboot his credit history.

Well, what do you know? Apparently no matter how large a scary beetle on your credit is, you can squash it. Well. You can try..—MEGHANN MARCO

How to Lawfully Reset Your Credit History [Make Your Nut]
(Photo: metavariable)

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