How to Quickly Remove Credit Disputes!

Update: after this video was recorded, Experian went back to their old policy.

There has been a recent change in Experian’s dispute resolution policy that is causing some problems. When borrowers try to remove a disputed remark from a credit account they are no longer able to do it with just a letter from the consumer. Fannie and Freddie require that all credit reports be free of open active disputes on any account.  If an account is disputed by the consumer, that account is removed from the FICO scoring calculation. There by, artificially increasing the FICO score because the negative account is no longer used to create the FICO score.

Up until January 2015 removing a dispute with two of the three repositories only required a letter from the borrower, stating that “they no longer intend to dispute the account”.  Well now both Experian and Equifax require that some documentation from the disputed creditor also, before they will remove the dispute.  There by, greatly increasing the degree of difficulty and increasing the time it takes to get this resolved.

Fortunately, there is a free way for consumers to quickly remove credit account disputes! Last year, I included this information in step six of Six Steps to a Better Credit Score. Given the new increased level of difficulty, I wanted to share this again.  If you are planing to apply for a mortgage soon, be sure to pull your free credit report and annualcreditreport.com (don’t get the scores). Then follow the instructions below.

Experian 888-210-9101. Tell them you need the National Consumer Assistance Center to end the dispute(s), hours are 8AM-5PM Pacific time and up to 72 hours to remove disputes. (e-mail confirmation will be sent when done). Update 4/8/2015 I am hearing that Experian is not being very helpful and require you to join their membership to remove disputes please leave comments below if you are successful or not. thank you

Equifax 404-885-8300 is answered by a live human being, tell them you need to speak with someone in the Executive Consumer Service Department.  Up to 72 hours to remove disputes.

TransUnion 312-985-2000 is has a machine greeting but just stay on the line and you are transferred to a live person, tell them you need to speak with someone in the Special Handling Department for instant removal.

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Go to www.getloanready.com to find other ways to improve your credit score. I’m Dave Sullivan here for the credit guy TV so you with a little bit me we’re going to change the credit industry thank you

 

 

Quickly Remove Credit Disputes

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