What can a Credit ReScore update?
- Correct an account that is reporting in error
- Remove late payments
- Remove derogatory information
- Remove Dispute Comments with a Consumer Dispute Removal Letter
- Update an accounts outstanding balance
- Update an account that is not associated with the borrower
- Update liens, bankruptcies or judgments
The Bureaus will accept the following documents:
- Current statement or online printout that MUST:
- List at least a portion of the account number
- Reflect current date with the exact change (balance) or update needed
- Bureaus require that all documents submitted MUST:
- Be typed on the creditor’s letterhead
- Be addressed to the borrower(s)
- Come from the creditor reporting the account
- State specifically how the information should be changed or updated
- Include the date, complete account number, name and contact phone number of the creditor
- Reflect something done already and not something to be done in the future
- For example the document must state that “the tradeline for John Doe has been deleted” instead of “the trade line for John Doe will be deleted”
- Bankruptcy schedules:
- Are acceptable to show an account has been discharged through bankruptcy, has a zero balance and to correct the last date reported.
The Bureaus will not accept the following documents:
- Bureau Investigation Results
- Cancelled checks
- Computer Generated Payment Histories
- Divorce Decrees
- Escrow Papers
- Handwritten Documents
- HUD 1 statement or Settlement Statements
- Internet court records or court documents that aren’t recorded by the court
- Trustees Deed
- Universal Data Forms
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** Disclaimer** The Fair Credit Reporting Act prohibits all costs & fees associated with the Credit ReScore from being billed back to the customer / consumer, either directly or indirectly. Credit ReScore is a business-to-business transaction, not business-to-consumer. Mortgage Lenders and Brokers absorb all fees and costs associated with Credit ReScore as an operation cost of doing business.