How much will a particular item removed effect my score?

[Anonymous]

so I have just moved back to the States after living abroad for several years and it turns out there are a few items on my report that have negatively affected my credit.  I have 5 or 6 medical items that range in price from $16 to $120.  These are items I clearly didn't realize were outstanding and will be taking care of them ASAP.  However there is one large item on my credit that does not belong to me. It is what I think is a car loan for around $8000.  I have disputed this item and am hoping it will be removed rather quickly.  I'm wondering how much it will improve my credit score after this is removed.  I know it is NOT mine as it was opened whilst I was out of the country.  I am trying to get a home loan and need my score to be at least 620, and it is currently 580, I'm guessing due to the fact that I have these negative items and no recent positive activity.

Any ideas anyone has would be greatly appreciated. Thanks.

[RobertEG]

If you have an item of information on your CR that is not yours, simply disputing wont normally remove it, unless there is a clear error in credit reporting, either  by the creditor or the CRA..

Someone established the account using your personal identification information.  The creditor may also have been duped, and will just affirm what was told to them. So you are left with a dispute resolution that you dont agree with, and probably at no real fault of the creditor in affirming what has been told to them.

So, the FCRA has set up a specific procedure for dealing with such items of information.  It is called the "identity theft process."

The first step is to go to your local law enforcement agency, report your allegtions to them, and receive a "police report."  FCRA 603(q).

That is a legal statement by you of your allegation, punishable by criminal prosecution of you for any knowlingly false statements made therein.

Once you have that identity theft (police) report, you can then file a request with the CRA under FCRA 605B  to block this account from your credit reports.

It is no longer then just a dispute, it is an issue of identity theft resolution.