Dispute Credit Reports–How do you dispute your credit report?
A credit report is a document that reports the payment history of its owner. When you end up with things on your credit report that are inaccurate, you dispute the information so that you can get the removal process started. You may not know how the dispute process works, but you will quickly learn when inaccuracies appear of your credit report. Everyone should know how to dispute information on a credit report in the event inaccuracies occur.
How to Dispute Your Credit Report
- Contact the credit agency in writing. Send the credit agency a certified copy of your dispute letter. Make sure that the letter includes all information regarding the account in question. Make sure your letter provides all of your personal information and the information regarding the disputed information. Include copies of documentation that support your dispute and request that they delete the information.
- Wait 30 days for the agency to investigate the information. By law, the credit reporting agencies have 30 days to investigate your inaccuracies. During this time, they will review your information and report their findings to you in writing. Incorrect information must be removed, and they must report the inaccuracies to the other credit agencies so they can correct their information.
- Request your free credit reports. You have the right to receive a free credit report that reflects the changes to your credit report. In addition to the letter notifying you that they information is removed from your credit report, this is proof of the removal. They can never put the information back on your credit report without information that proves that the information is accurate. Keep these documents for your records.
- Request that the credit agencies send corrected credit reports to lenders who pulled your credit in the past 6 months. These inaccuracies may or may not have prevented you from receiving credit. They are required to send the corrected credit reports to those lenders in which you applied for credit with during the past 6 months. Again, you must request that they provide this service or the corrected information may go unnoticed by potential lenders.
- Place a statement on your credit report if the situation is not resolved. In certain situations, you may not be able to have information removed from your credit report. In this case, you can request that the credit agency place a statement on your credit report that this account was disputed. Future lenders will be able to see this information. You may choose to continue to dispute the inaccuracies, but there is no guarantee that the information will ever be removed from your credit report.
You never know when your annual credit report will contain information that is inaccurate. It is always a good idea to have the knowledge on how to dispute information on your credit report. Make sure that you provide as many details as possible in regards to your inaccuracies. Persist until you get the results that you desire. Also, keep documents of everything related to your dispute.