ADispute is a dispute is a dispute, and a dispute by any other name is still anything but a closed loan…
Recently, the FTC – and I’m referring to the Federal Trade Commission, not the Fear The Creditors conglomerate – issued a follow-up study to their initial survey of the credit bureaus in 2012. The dismal results came back with an astonishing 80% of participant’s reports containing identity fraud or some other detrimental error on their credit reports. Even more disappointing was the fact that the remaining 20% of participants had major errors on their credit reports. A little quick math tells me that very few have a clean report free of errors or inaccuracies. Shocking! The participants in that group quickly “disputed” the incorrect information on their credit reports and 70% of them soon found out that they still have the same incorrect derogatory information on their reports, and now have those accounts in “dispute.” When a consumer disputes their own report it’s comparable to the ostrich that buries its head in the sand assuming that once the problem is no longer visible, it’s no longer a problem. Wrong! The creditors, who feel they can do whatever they want with impunity to prevent people from holding them accountable for their wrongdoing, seemingly use disputes as a form of punishment!
If you’re in the mortgage industry you see a dispute the same way a bull sees the matador. It starts as a small sting that you know is only there to kill you, or at least kill your closing potential. That’s exactly why over 3 years ago we identified the problem, developed a dispute resolution team, and implemented a resolution to remove disputes off of our client’s credit reports. These clients then come back to YOU as a CLOSED LOAN! How can we claim to be a “One-Stop Shop” if we can’t get disputes off of a credit report?
Continental Credit is here for any and all of your credit needs whether that is for the removal of questionable garbage, or irritating underwriting blockades like disputes. For more help call 866-488-2066 and don’t forget to pass along your referral source to qualify for a $100 discount which is over 50% off our initial fees.