Fair Credit Reporting Act

• The Fair Credit Reporting Act contains a range of provisions designed to protect consumers from fraudulent or unethical credit reporting practices. The act stipulates that lenders must make a note on a borrower's account if the borrower notifies the lender of a disputed transaction. Furthermore, any reports made to credit reporting agencies regarding a disputed debt must be accompanied by a note detailing the dispute. This gives you a fighting chance to remove fraudulent transactions from your accounts before they negatively impact your credit score.
  
  

Personal Communication

• The first option to try to fight a debt is to call the lender directly. Once you are connected with a customer service representative, ask to speak with a manager right away. Front-line customer service reps are not likely to have the authority to overturn your debt. Describe your situation to the manager, and discuss any evidence you can furnish that proves the debt in question comes from fraudulent transactions. The manager may offer to freeze your account, halting all interest accumulation, and initiate an internal investigation of the issue. If you have signed up for a fraud protection service with your lender, you may be able to have the debt removed during the first phone call.
  
  

Using Attorneys

• If your lender is unwilling to work with you after at least two phone conversations, contact an attorney to assist you. Since attorney's are familiar with the law, and can often predict the outcomes of cases based on preliminary information, they often have more leverage when speaking with lenders. An attorney may be able to handle your debt without going to court, simply by discussing with the lender how unlikely it is to win in a court proceeding.
  
  

Court Proceedings

• Going to court to fight a debt should always be the last option. The burden is on the lender to file a complaint in civil court, after which time you will receive a summons to appear at a hearing. Attend the hearing with your attorney, bringing all the documentation and evidence to prove the debt comes from fraudulent transactions, and the court will decide whether to order the lender to forgive the debt.