If you have ever disputed or hired someone to dispute an item on your credit report, there is a possibility that you still have an open dispute showing up on your credit history. Normally, this doesn’t matter. However, with the strict new guidelines associated with conventional mortgage loans, an open dispute is unacceptable and must be closed or removed. FHA guidelines do allow open disputes, but you are limited to FHA funding amounts and fees.
In most cases, when you file a dispute, the lender acknowledges it and provides the credit bureaus with a notice that confirms or denies the fact. However, some lenders just don’t respond and simply let it remain pending. This can become a nightmare if you are looking to buy a home. Yes, it’s unfair, but not illegal.
So now you come to find out that there is such a dispute open on your credit file and because of it, you no longer qualify for a conventional home loan. Are your home buying dreams over? NO WAY! There is a solution and it’s fast and easy.
Your only option is to withdraw, remove, retract, or revoke the dispute you filed or had filed. By the time you find out, it’s probably an urgent matter so there is a process you can follow to do this quickly, or, if you have time (30+ days), you can take the snail mail approach.
The fast way is to do it is by phone. The dispute you filed, although directed towards a creditor, is held with the credit bureaus. Calling the actual creditor will do you no good and normally, getting the chance to speak to a live person with the credit bureaus is purposely a challenge. However, below is the way to speak to a live person at each of the 3 bureaus. You need to follow these directions exactly.
Phone Number: 714-830-7000
Process: In order to speak with someone at Experian, you must have a 10-digit credit report number. The only way to get this is run your credit at www.annualcreditreport.com. It’s free and although you can run your report for all 3 bureaus, for this exercise, only Experian requires it. If you’ve run your Experian credit report within the last 18 months using annualcreditreport, then you can use that same credit report number. Without this info, you cannot proceed.
When you have the report number, call the number above and the phone will ring and ring and hopefully, someone will pick up. If no one answers after 15-20 rings, just hang up and call back every few minutes until someone does. Once you have them on the phone, tell them you “need to speak to someone on their Executive Customer Service Team.” If they ask why, say you “need to end a dispute request you had submitted in the past.”
They will ask you for the 10 digit credit report code and if your report is less than a year old. Provide the number and after they have you pulled up, they will transfer you. You may have to enter this code via an automated system before someone picks up. When they pick up, tell them that you had submitted a dispute for ____________ (list the item or items with open disputes), but now you want to withdraw the dispute. They will say “ok” and ask for your email address. Provide them with your email and they will send you confirmation within a few hours.
Phone Number: 312-985-2000
Process: When you call, tell them you “need to speak with someone in the Special Handling Department.” When the rep comes on, tell them you “need to dispute a compliance condition remark code on my account.” They will not ask for a credit report code but will ask you some security questions to verify your identity. Tell them you want to remove the dispute requests filed on some items and provide them with the details for those items(s). They will do so and tell you that you will receive confirmation by mail in 5-7 business days.
Phone Number: 404-885-8300
Process: They are fairly easy to deal with. When you call the number, a live person will pick up. Tell them you “need to speak with someone in the Executive Consumer Service Department.” They will transfer you to someone or perhaps a voicemail. It’s okay to leave a message…they are good at calling back in a timely manner. Explain the situation to them and they will remove the items and also tell you that they will mail out confirmation which you will receive in about 5 business days.
If you have time to have these disputes removed, then don’t call in. They are busy people and others with more pressing issues should get serviced on the phone. To do this by mail, simply write a letter to each bureau and mail it to them. The letter can be short and sweet and simply state that you are retracting your previously filed dispute on an item(s). Be sure to list the item details (creditor name, account number, etc.) and, if possible, a copy of the report in which this item was located…highlight or circle the items.
Once mailed, you can expect a response within 30 days or less. For your convenience, the mailing addresses for all bureaus are listed below. Good luck!
PO BOX 2002
Allen, TX 75013
PO BOX 2000
Chester, PA 19022
PO BOX 105851
Atlanta, GA 30374