Credit repair: One dispute letter to all 3 credit bureaus?
Recently, I had a conversation with a nice lady who asked about sending a dispute letter.
She asked whether she should send one letter to Equifax, one to Transunion, and another for Experian, or put it all together and submit one dispute letter.
There are certainly different viewpoints on this.
I prefer to put them all together in one dispute.
Imagine you’re sitting around a table and you have Mr. Equifax, Mr. Experian, and Mr. TransUnion sitting at the table with you.
You’re talking to them about errors on your reports.
Equifax says, “Yes, that’s correct.”
Then you go through other things with Capital One and the rest of your report with them.
Once you’re finished talking to Equifax, you go to Experian and say “Hey, that same January, you have me as current.” and discuss each point on your report with them.
When you go down the list having separate conversations with each bureau, the dispute loses its impact.
If we were just talking with 3 people, we would tell them all at once, “You say I was 30 days late, you say I was current, and you have no data reported at all. What’s the deal?”
You would put the problems out there and let the bureaus talk amongst themselves.
How could they explain this?
How does Capital One explain why there are three different versions of what happened in January 2019?
Or maybe there are three different versions of the credit limit or high balance.
Whatever the issue is – the bureaus should be consistent in their reporting.
We have two forms of evidence when we are presenting a dispute letter.
One form of evidence is external evidence.
For example, Discover Bank took the money in June of 2019, it is exactly the amount owed, and it shows here on my monthly bank statement.
This bank statement would be external evidence.
If you have external evidence to use when correcting an error, certainly use it.
Another form of evidence is internal evidence.
We will have internal evidence more often than external evidence.
This means we take a look at what each bureau says on the report.
When we take a closer look at these internally, we see they are inconsistent.
Particularly when we are using internal evidence, it makes sense to just put all of the information together in front of the bureaus at once, like we were sitting around a table.
We show them the inconsistency and then tell them to figure it out amongst themselves.
This is not the only way to dispute.
There are people who feel strongly that you should send one letter to Equifax, a completely different letter to Experian, and a different letter to TransUnion.
I prefer to send it all as one letter address to all three bureaus – Experian, Equifax, and TransUnion.
In the letter, I tell them their reports are inconsistent and I point out the problems for all of them to see.
These inconsistencies could be in the payment history, the high balance, credit limit, etc.
Whatever the errors are, I prefer to put everything in front of all three of them so they have to deal with it.
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