The credit dispute process is a clean-cut and highly documented procedure. In that regard, the Web houses thousands of articles about when and how to combat negative credit information. So, what happens if your credit dispute or challenge fails? If you are like many consumers, the initial process may not yield favorable results. Read on to learn more about the steps following a dispute rejection and how to get the results you deserve.
Denial isn’t the end of the line. When a credit dispute is rejected, it is up to you to take your claim to the next level. Before resigning yourself to defeat, follow the steps below to escalate your information request.
- Draft another set of letters to the credit bureaus and a new one for the creditor in question. Outline the following:
- Your disappointment with the initial credit dispute decision
- Information about the account and the nature of your dispute
- Detailed information about the dispute (include supporting documents)
- And, for the bureaus, list of the incorrect items on your credit report and how they should be corrected
- At the end of your letters, document your intention to escalate your claim to government authorities, including the Federal Trade Commission and your state’s Attorney General. Creditors are more likely to take your escalation seriously if they know you wish to seek legal advocacy.
- Mail your letters and supporting documents to the credit bureaus and affected creditors with a return receipt requested.
- Wait for responses, which may take up to 60 days. Keep copies of your letters, documentation, and any phone calls between yourself and the credit bureaus and creditors. Be sure to write down dates, times, names of representatives, and a summary of your discussions.
- Review the credit companies’ final rendered decision. If you are still not satisfied with the outcome, send copies of your escalated information requests and supporting documents to the Federal Trade Commission and your state’s Attorney General. You may also consider speaking with an attorney to discuss legal action and further options. In each of these endeavors, make sure you have enough evidence to prove your case and discredit your claim’s denial.
Facilitating escalated information requests can be a long and arduous process, especially following an initial credit dispute. However, the benefits of clean and accurate credit far outweigh the drawbacks of prolonged exertion. If you have been unfairly portrayed by your credit report, fight to reclaim your reputation. Consider working with a consumer advocacy law firm who understands the avenues of escalated cases. Their efforts can help smooth the way.