To dispute a bad credit item on your Equifax credit report you must send a dispute letter. In your letter you must include the item and the reason why it is incorrect.
You can write the letter yourself or you can hire a service to write it on your behalf. You should be aware that a separate letter must be sent to each credit bureau.
If you fail to do this, your Transunion and Experian report will still show the negative mark.
Common reasons to dispute an item include; information is wrong, item is out of date, account paid in full and more. The Fair Credit Reporting Act passed by congress gives you the right to dispute any item on your credit report.
In addition this act says that any mark that can not be verified must be removed from your report. This is what the process is based upon.
Upon receipt of your letter the bureaus will investigate the item. During the investigation they will ask the creator of the item to verify the account, the dates on the account, and the account balance.
If the item can not be verified then it is removed from your credit report. Often an investigation results in the removal of bad credit. This is a result of many businesses being unwilling to spend the time and money verifying disputed debts.
Before the bureaus will investigate they must deem your letter valid. Often a letter will be answered with another letter from the bureau asking for more information about the item. Many credit repair experts claim that this is nothing more than a stall tactic used to avoid the investigation.
I suggest you hire a service if you have multiple items you wish to dispute on your credit. However if you have only minor damage on your report then you can do it yourself, just remember to be persistent and have some patience.
In sum you can remove bad credit from your report without waiting seven years. This can be done by challenging the accuracy of the item directly with the bureaus.