Many consumers get this all wrong. Don’t self verify negative credit.
Q:If you are not satisfied with the results of your credit bureau challenge, you may file a “100-word statement” on your credit report explaining your side of the story. Creditors will read your statement and will take it into consideration.
A: The fact is that no known creditor considers information given in a 100-word statement. Most credit is approved by a computer and is automated. The statement only serves to self-verify some of the negative listings on the credit report. Make 100-word statements the first things you delete from your credit file. This mistake can damage your credit and will not benefit you telling the story about how your dog ate your bill.
The reality is theprocessors at the credit bureaus have quotas to meet when
processing your dispute requests and you long drawn out story and explination
is simply not getting read. The processor at the credit bureau is looking for easy
and to the point disputes that will make their life easy and simple for them
to turn your dispute into a 2 didget code and enter it into ther E-Oscar system.
So make sure you avoid the dreaded 100 word statement at all times. It's just another TRAP that the Credit Bureaus have set up to keep your credit bad and reporting on your credit.