After reviewing his credit reports, Edouardo made copies, then highlighted everything he saw as a negative listing. Most of them were medical collections, and were easy to spot. However, he does notice that one of the bureaus is reporting him as late on a payment to one of his credit cards, and he knows he paid it on time.
In addition, Edouardo has read that as part of the new FACTA legislation to protect consumers from identity theft, he was supposed to have been notified of the negative mark. He is sure he was never notified.
When you first receive your Trans Union and Equifax credit reports, you will be totally lost. The information is coded in a way that is not immediately readable by the average consumer. Each credit report should arrive with a key that interprets the codes and indicators on the credit report. Sit down with the credit report and the key and study it until you understand what each number and code means.
Don’t write on your original credit report — yet. Make all of your notes on a copy of the report. You will be sending your original report with your dispute letter, so you should make at least two copies of each new report. The original goes with the dispute, one copy is for notes, and the other copy is what you will send in to the credit agency.
Gather a yellow and orange highlighter pen. Whenever you identify a negative listing, mark the listing in yellow on your scratch copy of the credit report.
Very often, it is difficult to tell if an item on the credit report is negative or positive. The following table will help you identify every negative listing on your credit reports.
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