Credit Card Tips – Disputing Your Credit Report

Credit Card Tips – Disputing Your Credit Report

By Peter Gall

Someone’s credit score indicates how financially responsible they actually are. A report is usually acquired from the nation’s three major credit bureaus, namely Experian, Equifax and TransUnion. However, these three are not exempt from errors and mistakes. According to some credit professionals, the three big agencies incur error rates in the range of twenty to thirty percent, although some of the mistakes could be nothing more than reporting the wrong month of an overdrawn account. However, any simple reporting mistakes can still have a damaging effect on someone’s credit score, which can result in the individual being rejected for an essential line of credit. There are 5 ways to dispute errors.

Get Yourself a Copy Of Your Report From One of The Major Credit Agencies. The first thing to do is to order a copy of your credit report straight from each, or any of the three major credit agencies. Don’t get your report from 3rd party agencies, because chances are you could be disputing mistakes or flaws that aren’t real. According to the US Fair Credit Reporting Act (FCRA), the major credit agencies are responsible for correcting or reducing any flaws and errors in their credit reports. The FCRA therefore, allows you to directly contact these credit reporting agencies, and outline your disputes or complaints.

Ensure That Each Report Is Not Over The Seven Year Limit. When you get a copy of your credit report from the major credit agencies, compare all of the reports, and make sure that they aren’t past the 7 year limit for correcting any mistakes or erroneous information. Also determine if the status and delinquency dates are correctly recorded.

The Right Way To Dispute Any Mistakes You Discover. Once you personally find any mistakes, you can challenge these by registering the dispute online, as well as by writing a letter to the specified credit agency. Although sending your complaint on the Internet may be much faster, it only offers you limited options for explaining your case. Nevertheless, if sending a letter, make sure you limit it to around one hundred to one hundred fifty characters, or 30 words, to directly state your case. To register your complaint online, visit the agency’s Web site, and look for the “Dispute” link or button. Enter your identifying details, and proceed to state the complaint. In sending a dispute in the mail, get the agency’s correct mailing address, normally situated near the end of your report, including your name and address, report number, in addition to the numbers of the accounts you’re disputing.

Once you get a copy of the report from any agency, the agency is normally given 45 days to send the results of your dispute. If you gave a fee for your report, the agency will normally deliver this to you in around 30 days. Once you spot any mistakes or flaws in your credit report, it’s essential that you question and dispute all the inaccuracies, and never assume that something is it’s written, just because it’s reported by one of the major credit bureaus.

Although sending your complaint on the Internet may be much faster, it only offers you limited options for explaining your case. Nevertheless, if sending a letter, make sure you limit it to around one hundred to one hundred fifty characters, or 30 words, to directly state your case. To register your complaint online, visit the agency’s Web site, and look for the “Dispute” link or button. Enter your identifying details, and proceed to state the complaint. In sending a dispute in the mail, get the agency’s correct mailing address, normally situated near the end of your report, including your name and address, report number, in addition to the numbers of the accounts you’re disputing.

Peter Gall
Credit Builder Credit Cards

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