Free Credit Reports Credit Report Dispute

What to do with a credit report dispute

Do you know that a mistake on your credit history can ruin you? It may mean higher interest payments, inability to obtain a loan, a credit card or to buy a house. It may even prevent you from obtaining the job you are after, because some employers check credit histories. What if you find inaccurate information located on your credit report? That means you have a credit report dispute. You have the right to dispute any misinformation on your credit report. Begin the credit report dispute process by contacting the creditor responsible for the inaccurate information. You can also dispute any inaccurate information directly with the credit bureaus.

Once you have thoroughly gone through your credit report detailing information from all three major credit bureaus (Experian, Equifax, and Trans Union), you should provide each of the three bureaus with a written request to correct the credit report dispute information. You will also want to send a copy to the creditor responsible for the inaccuracy in your credit report. You will want to include any back up information to support your claim, and have it all sent by registered mail. This is to protect yourself from the credit companies saying that did not receive it, this way you will have proof and they will be liable.

With the Fair Credit Reporting Act of 1997, this requires the bureaus to validate the credit report dispute information as accurate or remove it from your credit report. In most cases, this is a 30 day limit for the credit reporting agencies to resolve any credit report dispute, and you will receive written notice of the investigation results within five days of its completion.

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