Disputing a Credit Report Error

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A credit report is a document that contains your financial records or history. It shows the accounts opened under your name, the loans and mortgages you took out and reflects your capability of paying them back. Credit report also includes your personal information such as your complete name, address, employment record and social security number. Having a good credit score will help you when applying for a credit card or looking to rent an apartment.

Credit reporting agencies offer free annual credit report.  This makes it easier for you to check your credit report on a regular basis. And to make it easier, credit reporting agencies are equipped to provide you with online credit report – no need to leave your house or work.

How to Dispute Report Errors

Since your credit report contains vital information about your financial capabilities, it is important to get free annual credit report at least twice a year. Consumers are entitled to get 3 free credit reports from 3 major bureaus. You must see to it that all information on your credit report is true and correct.

In the event your free credit report contains errors, it is your right to call the attention of the credit bureau or the credit reporting agency that made the mistake. Disputing credit report should be done as soon as you see the error. This can be done either by filing your dispute online or through certified mail. According to experts, the latter is the better choice. Remember to ask for a return receipt. A written dispute does not really guarantee immediate resolution but it will show a record of your efforts in court.

You can also attach pertinent documents to support your dispute together with the forms the bureaus recommend using. By attaching supporting documents it will show that there’s a discrepancy on the credit report.

When you’re done filling up the dispute forms and attaching your supporting documents, inform the creditor of your dispute and send them a copy as well. This will ensure that your creditor has all the information you sent to the bureau.

Where to Send Your Dispute Notification

Consumers can send their dispute notification to the 3 major credit bureaus. You can check out the process as to how to file dispute and where and when you can follow up results. More often than not, when one credit bureau sees the dispute, it will immediately notify the other 2.

Resolution of a Credit Dispute

After investigation the bureaus will have 30 days to send the result in writing together with a free copy of the credit report with the changed result. The credit reporting agency must also send correct copies of your credit report to those who requested for it in the last six months.

In the event your dispute was not resolved, it is time to hire a lawyer that is experienced in handling such cases.