Creditor Contacts and Credit Repair

In order for a consumer with bad credit and facing the credit repair challenge to get the most mileage for their efforts, it is certainly advisable to concentrate on the strategies that will gain the most leverage. The primary focus is zeroing in on the erroneous or derogatory information posted on each of the three credit reports from the credit bureaus. These agencies are obligated to address any dispute found by the consumer in a prompt and focused manner, as mandated by the Fair Credit Reporting Act (FCRA). Of additional importance is the somewhat ironic fact that this agency also mandates that each creditor must take responsible measures to investigate any reporting mistakes brought to their attention by the consumer in question. The down-side is that this mandate is somewhat without any enforceable backbone, and is often a less-than-productive strategy for timely credit repair. The credit bureaus have a rather large pool of resources to address the consumer disputes, and unfortunately the creditors do not, and subsequently a consumer’s complaint can often go unheeded. But, it simply means that attempts should persist until the matter is rectified.

When Creditor Contact is Necessary

The consumer must certainly gather every form of pertinent information regarding the contested issue prior to making contact with the creditor. Any and all documentation is vital in proving the negative information contained in the credit report is in fact false. This can be accomplished by providing copies of any cancelled checks and banking statements that indicate the payments in question have been made. This is also compulsory in cases when proving a debt has been satisfied if any balance is still being reported to the bureaus as well. Providing full and explicit documentation to each creditor should create quick and favorable results. As a back-up strategy, copies of the same documentation regarding the disputed reporting error should be forwarded to the credit bureaus that have published the incorrect data. If the initial attempts do not yield results, either with the creditors or the credit bureaus, keep at it until the issue is resolved.