When working to repair your credit report yourself, it can be tempting to follow the dispute processes that the big three credit reporting agencies suggest – submit your dispute online using their dispute submission portal, after all, you are communicating directly with them, they get your dispute immediately and you believe this process will get the negatives removed from your credit report and raise your credit score more quickly than sending a letter via snail mail – right? DON’T DO IT!!
Most do-it-yourselfers don’t realize that by submitting your disputes online you must agree to terms and conditions which are drafted by the credit bureaus’ legal teams, so the terms will naturally be more favorable to the credit bureaus than they will be to you, legally speaking. In other words, by agreeing to their terms and conditions, you will be giving up many of the consumer protection rights granted to you under the various federal laws that the credit reporting agencies must comply with, such as the Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act, just to name two.
The terms and conditions the credit reporting agencies want you to submit to removes their obligation to comply with the laws and prevents you from using those laws against them as it relates to the disputes you submit online. When you do this you will not be able to sue the credit reporting agencies for damages if they fail to comply with the law; you will be forced to go through their arbitration processes.
Applied appropriately, the rights granted under these laws can be incredibly powerful tools that you can leverage to clean up the negative items on your credit reports. Sending dispute letters to the credit reporting agencies via USPS keeps your rights under the federal laws intact and gives you the upper hand; they know they will face legal and financial consequences if they fail to comply with the laws.
Contact Boe Credit Consulting today to learn how you can have the exceptional credit you deserve.
About the Author
Jeff Boe is a graduate of National American University, a Board-Certified Credit Consultant and the President of Boe Credit Consulting. He has successfully rehabilitated his own credit profile and, since 2005, has been working with consumers to educate and help them with improving their own credit.
In 2018 he started Boe Credit Consulting in order to help even more people improve their literacy as it relates to the credit system in the U.S. as-well-as to improve their credit reports and scores so they can be free to realize their financial goals.
Boe Credit Consulting specializes in helping credit-challenged consumers improve their credit reports and scores so that they can achieve their financial goals.
For more information, visit www.BoeCredit.com
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