A creditor and I disagree on the amount I owe. Not paying what they say I owe will negatively affect my credit. Do I have any options? I could write two pages on all the lies I’ve been told on the phone and all the times I’ve tried to use their website to make payments (for which I received email confirmations for) that weren’t charged. As a result, this creditor is billing me for about $3000 interest which I shouldn’t owe.
They will not budge and nor will I. I simply don’t owe the money and won’t pay it. Eventually, this will hurt my credit, which is my only concern at this point. My question is this: can I dispute their derogatory report of me, and will my dispute make any difference in my credit whatsoever?
My credit score is currently down to 700 because of some other negative reports earlier this year. Basically, I moved overseas and didn’t pay off a power and phone bill which were mailed out after I left. I never knew about the bills until they went to collection and even though the total amount was just $300 my nearly perfect credit was dinged substantially.
I should note that I actually don’t need any credit nor do I anticipate needing any for a few years. I live in Hong Kong, pay for everything with cash and don’t need to buy a house, car, appliance or anything that requires credit. I make a substantial income and have access to a low interest margin account through my brokerage in case I need extra cash.
In a couple years, I’ll move back to the USA and buy a house and a car, at which point this account could come into play. Does anyone have any advice on what to do or not to do here?
Original text: Can I make an effective dispute of my credit report?