Credit Bureaus love to ignore or provide stall letters to prevent the dispute process. Here is a brief blog to describe these tactics and why they implement them.
How to Stand Up to Credit Bureaus: A Guide for Everyone
Dealing with credit repair can sometimes feel like you’re entering a chess match, especially when credit bureaus use tactics to intimidate or discourage you from disputing errors on your credit report. These tactics, often wrapped in official-sounding language, are designed to make you think twice before challenging them. But don’t worry, understanding these tactics and knowing how to respond can empower you and help protect your credit rights.
Recognize The Top Stall Tactics Used by Credit Bureaus and How to Handle Them
1. This Request Looks Suspicious: Experian’s Favorite Type of Letter to Use! Ever got a letter saying your letter looks “suspicious” so it’s deemed not to have come from you and will, in turn, be ignored? Here is an example of what Experian loves to send:
After you receive this rebuttal it’s best to review the identifying information you sent to ensure proper identification, SSN verification, and address verification documents you provided. Note that bureaus require a full photo or page with all four corners of the documentation being presented. However, if you did properly provide the correct documentation, it could be best to simply send a letter verifying that you are the one who sent the letter. At IIY we recommended including the previous letter you sent and a picture of the letter the bureau sent back to you. This typically triggers an actual investigation, but results may vary.
2. This Letter Doesn’t Appear to Be From You: TransUnion’s Favorite Stall Letter! Similar to the “Suspicious” letter request. It’s best to treat these letters as a simple way for TransUnion to stall the dispute process. The funny thing is that even if the letter was sent by a third party or created by a third party, the bureau should still process the letters if said party has authorization to send the letters. But this is a double-sword as they have the right to ignore letters sent from a credit repair organization.
3. We Need More ID: Sometimes, even when you send everything they ask for, they might say it’s not enough. It feels like they’re just trying to slow you down, but standing your ground is key. Just provide a follow-up letter with proper identification by double-checking the information provided in the letter.
4. Your Dispute Is Frivolous: This one comes out of the credit bureau’s playbook when they claim your dispute doesn’t contain new information or has enough meat on its bones. Your best bet is to ignore these letters and continue your disputes. Maybe you should rearrange your language or find another data point to attack. A good rule of thumb is to keep it simple and diversified
5. Bureau Completely Ignores the Letter: Ever send something important and just hear crickets? It’s frustrating and might make you think your dispute got lost. Nope, they just completely ignored it as if it wasn’t there. Many veterans send certified letters to ensure consumer reporting agencies are held accountable to process the dispute within 30 days. Note that if the bureaus do not respond within those 30 days they are in violation of the Fair Credit Reporting Act.
Keep These in Mind While Disputing
Know What to Expect: Understanding these tactics means you won’t be caught off guard. Knowledge is power, after all.
Keep It Simple: Don’t overload your dispute letter. Focus on a few key points to make your case stronger.
Document Everything: Keep records of all your communications and submissions. This could be crucial if things escalate.
Stay Informed: Knowing your rights under laws like the Fair Credit Reporting Act (FCRA) can make all the difference in how confidently you can challenge unfair practices.
In Conclusion, DON’T GIVE UP!
Navigating the world of credit repair can be tricky, but you’re not alone. Remember, the law is on your side, and there are ways to challenge stall tactics used by credit bureaus. It’s all about staying informed, organized, and persistent. Stand up for your rights, and don’t let these letters discourage you. If you would like experts to deal with these issues on your behalf feel free to contact us at IIY Consulting!
A wise man once said, “To achieve a desired result, you can either pay with your money, your time, or both. ”Anyone” CAN fix their credit, but it will take a level of expertise besides spending a few hours on YouTube University to gain a level of mastery needed to achieve the results most desire. A good analogy would be to compare IIY Consulting to a legal team. You CAN learn laws to defend yourself in a court of law and possibly succeed in a case.
Yes! But achieving the desired results takes time, effort, and knowledge. In the worst cases, you put in the work just to fall short of your desired result and get stuck facing issues that aren’t commonly known.
Most people readily avoid this possibility and are more than willing to pay thousands of dollars for the expertise of a lawyer to boost their chances of getting their desired result.
At IIY Consulting we conduct a similar role, but instead of defending you against prosecutors and a judge; we defend you against the consumer reporting agencies.
