Dispute Debt Collections from Your Credit Report

Dispute Debt Collections from Your Credit Report

Dispute Debt Collections from Your Credit Report

Debt collections listed in your credit report, it’s not the best thing ever, but there is a solution. If for any reason you left your creditors unpaid, they can and they most probably will, send your account to a collector. The debt collector is the one who will consistently give you calls or send letters, to remind you about your unpaid balance. It’s possible that they will even try to make a settlement, in order for the creditor to get something, instead of nothing. Additionally, if all the above fail to happen, collectors will list your debt collections in your credit reports. As you already guessed, this is a red flag for your future accounts and financial relationships, and of course, it will cause your credit score to drop. So, what can you do about it? Baby Boomers Financial gathered for you few tips on how to dispute debt collections from your credit report. Check them out! 

How to Dispute Debt Collections from Your Credit Report 

First step, is to know how you can write an effective dispute letter for your request to be considered from the credit bureaus. Read our relevant blog post about it: “How to Write an Effective Credit Dispute Letter,” and let the dispute begin!

Is That Your Debt? 

Do you see one or more debt collections listed in your report but none of them is yours? Collect all the needed documents to support your request, and ask from credit bureaus to remove the listing. 

What if the Debt Belongs to You? 

Yes, it’s your debt but is the collector covered by the law to claim the payment? You have the right to ask the debt collector that holds your account, to validate the debt. If he fails, or he is not responding to your request, then the listing must be deleted from your records. 

You Can Wait For Seven Years to Remove Debt Collections 

Counting from the first day of your delinquency, your unpaid debt can remain on your report for seven years, if other actions are not taken. Depending on your current ability to deal with it, you can just let the time pass. This is also a solution when everything else fails to work out.

Or You Can Always Pay for it

Well this is the most obvious option, but you can actually pay the account. The next step, is to ask the collector to remove the listing from your report. Once you make the agreement and you receive a written confirmation from the collector, check the report. If the debt collections are still there, then you can easily dispute it by submitting proof of payment. And of course don’t forget to attach your agreement with collector.

Debt collections can cause a series of problems in both your financial future, as well as your current credit rating. Baby Boomers Financial with its thorough knowledge and experience, would love to help you with that. We can effectively remove or correct errors and negative items from your credit report. Give us a call for more information.