Credit Fix
One approach to credit fix is to go straight to the creditor bypassing the credit bureaus altogether. The key to this credit fix approach is to identify the specific information to be disputed and explain the dispute and include supporting documentation to substantiate the dispute.
Once a creditor has been properly notified the creditor must conduct an investigation, review relevant information provided and complete the investigation of the dispute and report the results of the investigation back to the consumer within a reasonable timeframe. A creditor investigation that results in a credit fix must promptly notify the credit bureau to correct the information.
A Creditor providing information to the credit bureaus are under new scrutiny to fix credit. Recently the Fair and Accurate Credit Transaction Act FACTA has been updated by striking language that once only required a credit fix if the creditor "knows or consciously avoids knowing" information to be inaccurate to a new more robust standard of "has reasonable cause to believe". This new change to FACTA is certainly a step in the right direction and a victory for consumer rights.
