The goal of this article is to give you a good understanding of credit bureau disputes. Make sure that you copy this article and hide it in a safe place. I guarantee you once the credit bureaus find it they will have it removed. They do not want you to know how things REALLY work. Keep reading and pay close attention as I pull back the curtains and reveal the truth right before your eyes.
If you were to be foolish enough to believe what the media has to say you would think that the credit bureaus are set up to help the consumer. If you believe that then I guess you also believe in the lockness monster, or maybe bigfoot.
*Yes it would be wonderful if the credit bureaus really put the interest of the consumers first. A wise person once told me that you never bite the hand that feeds you. That saying also applies to businesses such as the credit bureaus. Trust when I say – the credit bureaus will by no means bite the hand that feeds them.
Do you know how much money the credit bureau’s make by helping you? Zero, zip, nada. There is no benefit for them helping you to repair your credit. It is crucial that you remember at all times during the credit bureau dispute process that you understand how the credit bureaus work and who’s side they are really on. The main objective of their organization is to collect your information and sell it to business owners. Since you now have an understanding that the credit bureaus are indeed a business you should also consider that goal of all businesses on the face of the planet. That goal is to make a profit…
Let’s build on what we have learned so far. We now know that the credit bureau’s are big business, and the goal of all business is to make a profit. With that understanding take a moment to consider that if the credit bureaus where to help you they would make nothing. However selling your information to other businesses they make boat loads of cash. The bottom line is it’s all about the money and you are the one that ends up loosing out if you don’t understand how things work.
Credit repair is a numbers game and it is fought on two fronts simultaneously. The first front is establishing new lines of credit which is outside the realm of this article. The second front is fought via credit bureau disputes. This is a series of letters that you send to the three major credit bureaus disputing any false claims that you have found on your credit report. The good news is the law is on your side and you can force the credit bureaus to help you if they fail to do their jobs.
After mailing out your letters of disputes the credit bureaus have 30 days to investigate and respond to your allegations. If they fail to respond by law they have to remove any accusations that you have disputed.
A recent study showed that 93% of individuals that attempt to repair their own credit will use a template that they found online for their credit dispute letters. This can be a rather costly mistake, because the credit bureau’s are aware of the online templates and it sends up a flag. It instantly notifies the credit bureaus that you don’t know what you are doing. That’s when they pull out their arsenal of tricks that they will use to trick you into extending the 30 day process. For example they will give you a friendly little call asking questions about your dispute letter.
On the outside this may seem like a harmless call. In reality this call is done to reset the clock on the 30 day’s that they have to process your claims. The best way to avoid getting caught up in the bureaus games is to not communicate with them at all once you have filed your credit dispute letters. Let the 30 days elapse before you make your next move.
I hope that you have found this information to be informative. For more information regarding credit bureau disputes visit my blog. If you are ready to take control of your destiny you can instantly download the exact credit repair system that I have taught to hundreds of individuals successfully across the nation here.
Related posts:
- Do It Yourself Credit Repair – Is it Advisable?
- What To Know About Credit Reports And Why They’re Used
- Credit Scores-does It Pay To Be A Poindexter?
- Credit Repair Software – Is It A Good Idea If You Buy It Or Not?
- Going From A Null Credit Score To A More Pleasing Rating
