This content is a transcript of the video above.
In this article, I’m going to show you how to Dispute Charge off just like I did when I had that credit. My name is Mark Clayborne. The best selling author of the book, Hidden Credit Repair Secrets, available on amazon.com. Let’s get straight to it.
But before we go, stay tuned all the way to the end of the article because I have a special gift for you.
Now let’s talk about charge offs. One of the things that we want to keep in mind is that whenever we are talking about charge offs, we’re not talking about just a charge off. We’re talking about inaccurate charge offs on your credit report.
What Is A Charge Off?
A charge off basically means that the creditor tried to collect the money from you for six months and they could not get the money from you.
And because they could not get the money from you, they gave up, they said, “I can’t get this money from Mark so, you know what? I’m going to charge it off and take it as a write off.” And then they turn around and sell it to the collector. That’s pretty much what a charge off is.
Does a charge off really hurt your credit report? Absolutely. Does it damage your credit score? Oh yes, it does. So my job here today is to show you how to factually dispute a charge off?
How to Factually Dispute A Charge Off?
One of the first things you want to do is you want to review all the fields inside of the charge off. Now, what do I mean by fields? I mean,
- The Date Opened
- The Date Reported
- The Last Date Reported
- The Payment History
- The Name of the Creditor.
These are fields, these are fields inside of the credit report that represents this charge off.
And nine times out of 10, these fields are inaccurate. You’ve just got to investigate and you’ve got to pay attention and you have to know how to read the credit report. And this is where disputing inaccurate information comes into play.
So let’s talk about it. Next, You want to dispute the various inaccurate fields. So any field that you see in the charge off that’s inaccurate, put that down, write that down as one of the things that you’re going to dispute. Because, see, the Fair Credit Reporting Act states that you have every right to dispute anything that you feel that’s inaccurate. That’s our right.
If you see something that’s wrong on your credit report, you’re going to say, “Hey, man, this is crazy. How did this happen? Why is this balance wrong? I don’t own that amount. Why are you reporting that?”
You have the right. You’ve got to fight. You’ve got to fight. You’ve got to fight with education. So fields, you want to dispute anything that you feel that’s inaccurate and you want to study the credit report and understand what this stuff means so you can dispute, because it’s you it’s your personal finances, it’s you trying to get a new car, it’s you trying to get a new house.
It’s you, it’s not anybody else. The credit bureaus don’t care. The credit bureaus don’t care, you’re just social security number to them. So you have to be educated. They don’t care. They don’t care, trust me. They hurt me really bad.
How to Write A Dispute Letter?
All right, so next, you want to explain your position. So write to the credit bureaus and explain why you feel that this charge off is inadequate. Explain your position. Don’t just say, “It’s inaccurate. It’s not mine.” That’s not going to work. You’ve got to tell the credit bureaus why you feel this way.
Explain to them. Give them a summary. Explain to them why you feel that this account is inaccurate. And anything that you see in there that’s inaccurate, you want to write it down. Anything you see, any of the fields that you see that’s wrong, you want to write it down. It’s your right. If you don’t believe me, go read the Fair Credit Reporting Act.
It tells you right then and there it’s your right to dispute anything that you feel is right inaccurate. But you’ve got to know how. You’ve got to know how.
I’m not telling you to dispute accurate information. Get that out of your mind. I’m not telling you that. I’m telling you to study and understand what you’re disputing because it’s your report. It’s your finances. It’s your livelihood, not mine.
Now, next, like I said before, I wanted you to stay all the way to the end of this article because I told you I had a free gift for you. Didn’t I tell you that? I want to give you a free dispute letter checklist.
All you have to do is click the video anywhere you see in this video. Anywhere you see a link in this video, just click it. And I’m going to give you this free dispute letter checklist. That’s right. Protect your rights. Step by step, move by move. I’m going to give you one more thing. These are three letters, three powerful dispute letters, that I used when I was working on my credit.
My credit score is about 765 now. It was at 795. We bought a house, it came down a little bit. It was at 810 at one time. All right, but I’m going to give you the three letters that I used when I was fixing my own credit a long time ago and it helped me remove inaccurate information off of my credit report.
All you have to do is click inside the link where I have a link for you to get this. Okay. Again, this is Mark Clayborne, best selling author of the book, Hidden Credit Repair Secrets, available on amazon.com, and also founder of the ClientDisputeManagersoftware.com, which is a business credit repair software, if you wanted to start your own credit repair business. Until next time, take care.
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