| Many times people are unaware of exactly what's in | | | | automatically mean it will disappear from all 3. Lenders |
| their credit report, let along if there's a collection | | | | do look at all three credit reports, so it's extremely |
| account in there. There are usually 1 or 2 reasons why | | | | important to follow up with all of them. Not doing so will |
| a collection account may exist. | | | | affect your ability in getting a loan. |
| - The account went to collections | | | | Do it in writing |
| - Mistaken identity | | | | It's important to mail your dispute in. Do not try to do it |
| Fortunately it's not the end of the world. There are | | | | over the phone. Writing gives you documentation in |
| steps that can be taken to get the collection off of | | | | case you need it. After they received the dispute, they |
| your credit for good. | | | | will investigate the matter. If the investigation is not |
| Get a copy of your credit report | | | | resolved within the allotted amount of time, the item will |
| There are 3 main credit bureaus where you can obtain | | | | automatically be deleted from your credit report. |
| a copy of your credit report. These are as follows: | | | | Fair credit reporting act |
| - Equifax | | | | Become familiar with this law, before you contact the |
| - Transunion | | | | credit bureaus. It could save you a lot of time and |
| - Experian | | | | trouble. It's important to get the facts, so you have all |
| Dispute the findings | | | | the tools at your disposal when going up against the |
| Each credit bureau operates separately. Therefore | | | | credit bureaus. |
| having the account deleted from one does not | | | | |