Writing a credit report dispute letter to the bureaus (Equifax, Experian, and Transunion) is an extremely effective technique for clearing past due items, charge-offs, and collections from your credit report—and consequently raise your FICO score. The Fair Credit Reporting Act (FCRA) gives consumers the right to verify their credit report. Only write to credit bureaus when you find yourself at least 30 days late with your creditor and the account shows up as past due on your credit score. This is the same exact method credit repairs services are using when you pay them a fee to fix your credit.
Fair Isaac (the company that invented the FICO scoring system) does not give out the exact formula for computing your FICO credit score. However, we do have something to work with—the factors that weigh on your credit and its exact percentages. Your credit score is calculated using the following five factors. They percentages is how heavily it weights on your credit score.