How to Resolve a Dispute

Credit Dispute:

1. CONTACT THE CREDITOR

Contact the creditor in question and state what is in dispute:

• Late payments in error

• Ownership of account

• Account should show as closed

Discuss with the creditor your reasons for believing the credit information is in error.

2. GET NAMES AND PHONE NUMBERS

As the dispute is being resolved with the creditor ask for the full name and extension number of the person with whom you dealt. Some companies have so many customer service representatives that finding someone by a first name only (especially a common one) can be very difficult if not impossible. Also many creditors will not discuss any credit information with a third party unless specifically given permission by the account holder.

It is always a good idea to ask for written documentation as well. Be sure to do this especially if you are not assured that the creditor will discuss your credit with a third party over the phone.

3. NOTIFY US AS TO THE SITUATION

Call us and tell us what has been resolved and who our credit-reporting agency can talk with to confirm the info so we can get our report edited.  They will then contact your creditor and verify the information and adjust your credit report accordingly.

4. CONTACT THE REPOSITORIES

However, the credit agency is not a database, and although our credit report will be corrected we cannot change your permanent record.  To do this you will have to contact the repositories directly.  They are:

• CBI/EQUIFAX  1-800-685-1111
• TRW  1-800-422-4879
• TRANSUNION   1-800-888-4213

NOTE:  If the dispute concerns the satisfaction of a public record (judgment, lien, etc.) you must provide documentation to show the record as satisfied.  Sometimes it occurs that a public record has been paid but the satisfaction was never filed with the court.  IMFAX cannot show it as satisfied until we have proof that it was.

Collection Dispute:

A collection account is a debt, which has been turned over to an outside agency for the sole purpose of collecting that debt. The party, which turned the debt over to an outside collection agency, is the creditor. In general, creditors turn debts over to outside agencies because they are unable to obtain payment from the debtor or are unable to locate the debtor.

CONTACT THE COLLECTION AGENCY

1. Ask them to provide proof of the debt.
2. If you disagree with the amount of the collection, explain your reasons. Many collection agencies will negotiate the amount needed to settle the debt.
3. If you disagree with the responsibility of the debt, provide documentation to prove your claim.
4. If the above does not resolve the dispute then . . .

CONTACT THE CREDITORS

1. Ask them to provide proof of the amount or your responsibility.
2 If they cannot provide proof, ask them to cancel the account with the collection agency. (It is very important that any settlement made directly with the creditor be communicated to the collection agency.)
3. If these attempts to resolve the dispute fail then . . .

CONTACT THE CREDIT BUREAUS

1. File a consumer statement with the credit bureaus. This statement can include your explanation concerning the debt and will appear on your credit report.

If you feel the collection agency or creditor used unfair practices to collect the debt contact the Federal Trade Commission at 206-220-6363. This is the government agency which oversees debt collection and has educational materials regarding debt collection that is provided free of charge.