Self Help

To negotiate with the creditor, you need to send them a formal letter identifying the account you are disputing, stating the reason for your dispute, and demanding that it correct or delete the negative item.

You should also inform the creditor that if the matter is not resolve quickly, you will take legal action. Collection agencies will sometimes refuse to change your credit rating unless specifically instructed by the creditor that assigned them the account.

When disputing with a creditor, you must let them know that it was the one at fault. For example, it provided you with substandard service, its merchandise was defective, it misplaced your check, it did not deliver the goods, or it somehow did not perform its part of the agreement.

Even if you were at fault, you can still get positive results. For example, let’s say you discovered a “30-day late payment” on your credit report. The account was from a major department store with which you had maintained an excellent account for at least 10 years. You were at fault for making that late payment. However, you can approach the credit manager and ask him to remove the negative remark from your report, indicating that you had always been a good customer. The credit manager will more than likely comply with your request for public-relations purposes.