There are federal and state laws in place along with the FAIR & ACCURATE TRANSACTIONS ACT and FAIR DEBTS COLLECTIONS PRACTICES ACT which has been establish to protect consumers credit reports and rights. What these acts basically do for the consumer is hold the credit bureaus and creditors legally responsible for their actions. The credit bureaus and creditors are legally obligated to produce documented evidence within a reasonable time period (usually 30 days) to back up the claims they place on your credit report. If they are unable to validate their claims, by law, they must immediately remove any undocumented information. It's as simple as that!
79 % of all credit reports contain errors which can be currently hurting your credit score!
High Rise Credit Consulting will help you identify and dispute all inaccurate derogatory and/or questionable information on your credit reports. We have handled many situations that involved inaccurate derogatory and/or questionable items relating to:
- Collections
- Late Payments
- Charge-Offs
- ID Theft
- Judgments
- Tax Liens
- Repossessions
- Civil Claims
- Inquires
- Incorrect Child Support info
- Wrongful Garnishments
- Incorrect Personal Info
Here is an example:
If your credit report shows that you have a charge-off with one of your credit cards that you actually just paid the account in full (which was in good standing) and closed it, we will send in a dispute requesting proof that you did not pay your remaining balance and why it was placed on your credit as a charge-off? Either they will respond with the correct information of the file with proof or they won't respond to our dispute at all. After 30 days, by law, your incorrect charge-off will be removed from your credit report. The removal of the incorrect charge-off will automatically increase your credit score and report.
(Note: Accurate and true information must remain on your credit file for 7 years)