Disputing a Credit Report
Disputing a credit report isn’t really the big drama that many people seem to think that it is.
In fact it’s a fairly mundane affair that should be approached with confidence as the chances of a positive outcome can be a lot higher than many people think.
The first step in disputing a credit report is to get your hands on an accurate and up to date credit report from one (or all three) of the main consumer reporting companies - Equifax, Experian, and TransUnion. These companies are legally supposed to supply you with your credit report, free of charge, up to once per year when you ask for it.
Next step is to read the list of items on your credit report, taking careful note of each item that is either factually incorrect or misleading in any way. These items will be ripe for disputing and offer you the best chance of improving your overall credit score.
After you have identified the items you wish to dispute, you need to start writing down each item with an explanation of whay you think it is wrong or misleading.
Your dispute stands a much better chance of success if you are able to produce dosumentary evidence such as receipts or bank statements that support your version of events to do with the iterm. Send copies rather than originals.
If you are unable to produce and receipts or similar evidence, then don’t worry, it is still worth disputing the item and there is still a chance that it may be changed.
Once you have compiled your reasons for disputing each item as well as any evidence, you need to send it to the relevant consumer reporting company - ie. the one that reported the incorrect item on your credit report.
That company is then legally obliged to investigate your claims and in most cases will have an answer to you within 30 days. At that stage you will receive a new and corrected version of your credit report.
Now you may like to consider the services of a professional credit repair agency as they often know exactly which items on your credit rpeort stand the greatest chance of improvement as well as the best way about presenting your case to the consumer reporting agency. Or you can also complete the process yourself.
Whichever way you go, disputing a credit report does not need to be a hassle as it’s done every day and often times successfully.
