New to myFICO... need HELP!!

[Mommy2Jayden2010]

I am new to my FICO and I could use as much help as I can get! About 2 months ago I started working on my credit. On Experian I had 16 negative accounts and now I have 9 just disputing them online. I know it is better to dispute by mail but I was anxious to get them off. But the rest I disputed not that long ago so I have to dispute by mail from here on out on the rest of the accounts.

I have sent out dispute letters to all 3 agencies and I recieved 2 back from TU and EQ saying they needed more information. I forgot to include my SSN and my DOB... so I sent them a copy of my ID, utlility bill and my SS card. I also sent Experian a dispute letter on the 25th of April and still I have not recieved or heard anything back from them. I just hope I am doing everything right. Also does anyone know where to get sample letters of what to send out if they don't respond with in 30 days? I could use all the help I can get!! Thank you!

[Anonymous]

You should only dispute as a last resort.  Things can backfire if they are not removed.  And you should not dispute accurate information.

[Mommy2Jayden2010]

Sorry I guess I should go into more detail. I disputed my reports because some of them are over 7 years old and some accounts are not mine. Why is it bad to just dispute your whole credit report? Out of the 9 negative accounts on Experian 4 will be 7 years old by the middle of 2012  and the other 2 are loans I never had and the other 3 are medical bills that my insurance is currently taking care of. How can it back fire?? Thank you for your help!

[Anonymous]

As I am too lazy to type, I borrowed this from a fellow member:

• Disputing can drop your score if the baddie was old and gets verified. The DOLA can change and FICO will read it as a newer baddie.
• Disputing can result in accurate lates being added, if an account is verified or updates, when there were none before.
• Disputing can lead to a fraud alert.
• Disputing could lead to a score drop if a disputed account is removed and that account's age helped more than the baddie was hurting.
• Disputing more than once can lead to a frivolous disputer charge by the CRAs.
• Disputing does lead to increased collection activity, including potential lawsuits if within SOL.
• IMO, disputing makes it tougher to remove a baddie in the future.
• Disputing can lead to a split file with the CRA.
• Some mortgage lenders will frown on or deny a loan if an account is in dispute.

[Mommy2Jayden2010]

GREEAAATTT!! Just what I didn't want to know. Ha ha! Okay so now what do I do? I literally sent out letters to all 3 bureaus disputing everything on my credit. :/ Like I said I disputed once online with Experian and the other 2 I had to do in writing cause they won't even let me on their site. Below is a sample of what I wrote them. I think I am going to go shoot myself lol just kidding.

Equifax Information Services, LLC
P.O. Box 740256
Atlanta, GA 30374-0256

May 14, 2011

Legal Department,

I am requesting the verification of negative items on my credit.  As you know, the Fair Credit Reporting Act requires you to follow reasonable procedures to assure maximum possible accuracy of the information on my credit report.  Therefore, I am requesting you verify the item’s I am disputing at a higher standard than a computer generated inquiry, e-Oscar or third party database search.  Please also notify the source who reported the item within 5 days after receiving this dispute, and obtain an affidavit sworn under penalty of perjury of verification directly from a person at that source.

According to the Fair Credit Reporting Act, Section 609 (a)(1)(A),  you are required by law to verify any and all accounts you post on a credit report, otherwise, anyone paying for your reporting services could fax, mail or email in a fraudulent account. I demand to see Verifiable Proof ( a consumer contract with my signature on it ) you have on file of the account (s) listed below. Also according to the FCRA you must remove any inaccurate information. I do not know of any account number’s ending in XXXX which is inaccurate. Your failure to positively verify this/these accounts has hurt my ability to obtain credit. I demand all inaccurate and unverifiable accounts be removed or verified immediately!

Verify with that person my full name, address, date of birth, social security number, status, date the account was originally opened, date of last activity, date of last payment, actual balance, high balance and amount (if applicable), date reported since, legal status of debt, status of collection.  If any one item of these items of information is inaccurate or incomplete, then the entire item must be deleted.  When you finish your investigation I want the name, address, and telephone number of the person at the source you contacted and an affidavit under declaration of penalty of perjury from that individual, in other words a fact witness.  The Method of Procedure as mandated by 15 USC section 1681(i)(7)or FCRA section 611 (a) (7).

                I will expect you to complete your investigation within 30 calendar days from the date you received this dispute or the item being disputed will be unverifiable and subject to deletion.

Name Of Account                               Account Number             Please Provide Physical Verification  

Allied Collection Services                  13878XXXX                          Inaccurate and Unverified Account

Allied Collection Services                  11885XXXX                          Inaccurate and Unverified Account

Credit Bureau Central                        9A354XXXX                         Inaccurate and Unverified Account

West Asset                                            280XXXX                              Inaccurate and Unverified Account

Unknown                                               9A341XXXX                         Inaccurate and Unverified Account

Unknown                                               3088XXXX                            Inaccurate and Unverified Account

Unknown                                               3091XXXX                            Inaccurate and Unverified Account

Unknown                                               13XXXX                                 Inaccurate and Unverified Account

*  Please remove all non-account holding inquiries over 30 days old. 

*  Please add a Promotional Suppression to my credit file. 

Thank You, 

Jane Doe

[Anonymous]

Where did you pull your reports from?  If you don't get them directly from the CRAs the account numbers are shown with xxxx. 

You are asking the CRA for information they do not have to provide you. 

That information would come in the way of a Debt Validation which is on the CA to provide.  You need to send the CAs a DV letter, wait and see what happens.

[Mommy2Jayden2010]

Okay thank you very much for helping me. I will just wait and see what happens with the letters I already sent out. I did recieve letters back stating they needed more info and I sent them my info a couple days ago. But I never heard anything back from Experian... do you know where I could get a DV sample letter??

[Anonymous]

Keep a DV simple.  "I found this account xxxxxxxxxxx on my CR.  Please validate".  Send it to the address on your CR.

Also, get your free reports from annualcreditreport.com..  One each year from each CRA.  These are the most accurate and detailed reports.