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Dave Udy is a 20 plus year veteran of the Mortgage business. This booklet was put together by him for the purpose of assisting his customers in repairing their credit. This, or a previous version, has been handed out to hundreds of people for that purpose. Some have used it to clean up their credit before getting a new loan while others just to clean up erroneous data that did not affect their borrowing power.

This simplified step by step process is a distillation from many sources including government publications, numerous other credit repair guides and mostly from Daveís experience with borrowers over the last 20 or so years.

The information is current as of the date of publication, but the credit bureaus seem to be moving targets when it comes to their addresses and phone numbers. All known addresses, phone numbers and e-mail / websites are listed below. Make sure to confirm the correct address before mailing in your letters.


P.O. BOX 740256
ATLANTA, GA 30374-0256
Attn: Disputes

P.O. BOX 2002
ALLEN, TX 75002
Attn: N C A C

P.O. BOX 34012

Attn: Disputes


(If your Drivers License does not have the current address, send a copy of a current utility bill)

You can use the Web, but I don't recommend it.




The Fair Credit Reporting Act (FCRA), 15 USC sections 1681 through 1681t, protects you against credit abuse that might result in an unfair description of your creditworthiness. There are six basic rights that allow you to successfully erase the negative marks in your credit report and regain a good credit status and improve your score.

1- You are allowed to challenge the accuracy of your credit report at any time.

2- The credit bureau must "reinvestigate" anything you challenge.

3- The credit bureau must reinvestigate the disputed information within 30 days. As of September 30, 1997, the 30-day period is a matter of law. The time period begins when the bureau receives notice of dispute from you the consumer. The only exception to the 30-day rule is when you send the bureau additional material within the 30-day period. The bureau may then extend the deadline a maximum of 15 days.

4- If the credit bureau cannot confirm the adverse information or finds any error, it must promptly delete that erroneous information from its files.

5- If the bureau cannot or does not confirm the information you have challenged within a reasonable time period, it also must delete that information from your files.

6- If a creditor verifies the information and the bureau responds in a timely manner, the negative marks must remain on your record, but, if you maintain that the information reported is in dispute, you have the right to submit a Consumer Statement of your view of the problem. The credit bureau is required by law to attach your explanation to every copy of the report it sends out. This one is last resort only. You should resubmit your dispute several times first.


1- Review your credit report thoroughly.!

2- Note any discrepancies in the data. Watch for incorrect accounts, extra accounts, wrong names or spellings, extra or incorrect social security numbers, wrong or incorrect addresses.

3- Review all negative items on your report. Are they correct? The credit rules are in your favor. You have 30 days after the due date on any bill before it can be reported late. Check your records. Many creditors report late payments that are not a full 30 days late and you have the right to challenge them. Collection accounts get stuck on reports that should not have been reported or have been paid. Just because it is there, does not mean it is correct.

4- Call all creditors that have issued negative information to the credit bureaus. Challenge the data. Work out a deal. Negotiate with them. Your goal is to get a letter from them removing the negative item. They may say that they will send the new information to the bureaus. Thatís great, but get a copy in writing by mail or fax for your records. Youíll need it for the next step.

5- Gather all of the corrections, etc.

6- Send a dispute letter, along with a copy of any corrections you received, to each of the three bureaus. Send them certified mail with a return receipt. If the creditors in step four didnít cooperate with you , you still have the right to challenge the information directly with the bureaus, do it in your letter. Also remember to dispute any and all errors that you found in step two.

7- Now wait for the replies. The bureaus have 30 days to contact the creditors for response. If there is no response, the disputed items must be deleted from your report. Remember it is frequently possible to eliminate negative marks simply by going through this process of disputing these entries. Since many creditors won't take the time or effort to defend the negative entry, you can eventually "repair" your credit through the default of your creditors. Note that if the credit bureau fails to immediately provide an updated credit report, free of the disputed entry, you have several recourses:

8- If you are not satisfied with the results, start over. Keep after them until you are. The law is in your favor.

9- Keeping it clean. A few hints to keep your credit report in top condition.

a- Each inquiry into your credit costs you points. Do not apply unless you really need the loan or credit card. Be very careful when shopping for a car. They will pull credit when you walk on the lot if they can. Shopping around too much for the best deal may cost you that deal by dropping your score. Store cards are the worst at reporting. They have short billing cycles and high interest rates. Close them!

b- In order to have good credit you must use credit. No credit is bad credit. Use your credit cards and pay them monthly if possible, but always, always, always, at least pay the minimum each month when due. Even if you can pay cash for large purchases take the time payments and pay them off in a couple of months. Be very careful with the 90 days same as cash deals. If you are one day late paying them the creditor can report you 90 days late. (R.C. WILLEY is famous for this one) Watch your credit balances. If you exceed 80% of the limit, it counts against you. Call the creditor and get them to increase your limit or transfer balances or use another card.

c- Mortgages are very important! Mortgages accrue interest during the month and are due on the 1st day of the following month which technically makes them late on the second. You generally have a grace period until the 15th with a 4% or 5% late fee due after that. Mortgages are weighted very heavy in calculating your credit scores. Be very careful to make your payments on time or arrange for direct payments from your bank.

d- Be wary of hospitals, doctors and insurance companies. They are all know for turning you over for collection at the drop of a hat. Make certain that your insurance company is paying these bills or pay them yourself and get reimbursed. Collection accounts, no matter how unfair, are killers on your credit report and very hard to have removed.

Thank you again for visiting,


1-800-578-1555   •   801-631-9933   •   575 East 4500 South, B-170   •   Salt Lake City, Utah 84107   •   dave@udy.net