Fixing A Credit Report Dispute

The key to fixing a credit dispute is knowing the right steps to take

. Once you get hold of a copy of your credit report, carefully check and review it for errors and incorrect information. If you find errors, exercise your right to dispute.

Below is a credit report guide that will help you learn more about credit disputes and how you can settle them.

The first question is what items or data in your credit report can you dispute about? Most people think that false charges or debts are the only things that can be disputed. However, misspellings in your personal details, omissions and sudden changes in your identity details can also be disputed. As long as it is an incorrect data, you have the right to notify the credit bureau and ask for a correction.

Where can you request a copy of your report?

You must also take note that you need to request for a copy of your report from all the three major credit bureaus. Each bureau is a separate entity and creates a different report. You may find errors in one credit report that are not found in the report that was issued by a different credit bureau. Thus, it is recommended to order a report from each of the three major credit bureaus. This will also enable you to compare each report and use the correct report as reference.

How do you dispute errors in your credit report?

The most important step is to write your dispute letter addressed to the credit bureau who issued your report. Point out the items in your credit report that you think are wrong or inaccurate. Send a duplicate copy of your credit report with the items you are disputing clearly marked or encircled.

Carefully explain why you think this dispute is valid. Enclose any copies (NOT THE ORIGINAL THOUGH) of receipts or bills that will support your claim in your letter. Request that the wrong information be investigated and that these items be removed from your credit report as soon as possible. Check the details of your dispute letter and mail it via registered post mail.

Whenever you send a letter to a creditor or the credit bureau, make sure that keep all correspondence between you and these parties in a folder for reference. Remember to send your letters through a registered mail so you can be properly notified as soon as the recipient receives your letter.

Within 30 days upon receiving the dispute letter, a credit bureau must investigate the items in question. Your creditor will be immediately contacted by the credit bureau to verify these errors. If the creditor confirms these errors, the credit bureau will be notifying all three major credit bureaus about the necessary corrections. You will be sent a letter explaining the result of the investigation along with the copy of your new and updated credit report. This updated of your report will be sent for you without any charge.

With regards to federal law, no credit bureau should refuse or neglect any dispute filed by a consumer. If you think that the credit bureau isn't taking action with your issue, you can ask help from the FTC by calling their help line (877-FTC-HELP).

Copyright (c) 2010 Suzy Vanstrusen

by: Suzy Vanstrusen

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