Dispute A Collection Account
Debt collection accounts remain on your credit report until you decide to remove them. However, it is also possible for you to dispute a collection account which is already on your credit report. This will be very difficult for the original creditor to do, since they are more focused on collecting the debt than attempting to correct your negative situation. However, there are legal strategies available that will make the process much easier for you. The first step is to find out if there is a legal strategy available in your state. If there is, this would probably be the easiest option.
In most states, collection accounts cannot be disputed unless the debt is for a minimum of three hundred dollars. Any amount over the three-day period is considered a valid dispute. However, it is important to note that even if the original creditor accepts your letter, they may still try to collect the money from you via other legal means. This is why it is important to get your own lawyer to deal with collection agency lawyers. Do not handle this task yourself and do not pay the attorney until you are completely confident that you have done everything possible to correct the account. If the original creditor accepts your letter, then you should consider hiring an attorney who specializes in collections to help you deal with them.
Why Dispute A Collection Account
Disputing collection accounts that are on your credit score is one of the most powerful things you can do. Once you dispute an account which has been reported negatively to your credit, the bureaus will take into consideration the new evidence which you provide them and may reinstate the account. This will send your credit score back up by several points immediately. This may help you in the long run as it shows your creditors that you are actively trying to improve your credit score.
As a matter of fact, many debt collectors are now reporting to junk debt buyers just so they will know that you are taking action to get rid of the debts in question. A lot of these junk debt buyers will also hire attorneys to get more information from the collection agency attorneys. This is a good strategy because these attorneys know all the inside secrets of the system that debt collectors are using against you! You should also try to contact the credit bureaus yourself if the collection account has been reported to a collection agency. You may need to fill out a dispute form requesting them to remove the entry. If the entry is wrong or there is inaccurate information about the debt, you should file a dispute immediately. It is highly likely that the entry will be removed once you file the dispute. This could help you raise your credit score very quickly.There are also ways to deal with the factual errors that are showing up on your credit score. Some of these are easy to fix while others are going to require legal assistance. In the case of credit card debt accounts, for example, it is common to see factual errors showing up on one’s report which can easily be fixed. In many cases, you can simply order a copy of your credit report to be sent to the company who is reporting the error. In most cases, the company will have to correct the error by sending a letter to the credit bureau within a given amount of time.
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