Oftentimes, dispute credit report errors are found when the free yearly credit report is obtained. People nowadays rely too much on today’s technological advancement that they tend to be a bit careless when they should be even more vigilant in safeguarding their credit.
Aside from being updated of your yearly credit report, you should also be aware of the information registered in the report because there is a possibility that there are inaccuracies and other faults, which will most likely affect your credit score and probably your reputation.
A credit report is given free yearly which contains information pertaining to all of your payments, your bills, your home and/or office address, and even if you’re being sued. Who wouldn’t be alarmed when they find in their respective credit report that they’re being sued for something they have no knowledge of.
And if there are any discrepancies in your yearly credit report, there may be a possibility that you will not be approved for any future loans or other credit transactions. That is why financial advisors everywhere highly recommend that you claim and review your credit report regularly for dispute credit report errors.
How To Dispute Credit Report Errors
According to the Fair Credit Reporting Act (FCRA), you are entitled to dispute errors or inaccuracies in your free yearly credit report. You can initiate a claim through phone or mail by contacting the three authorized consumer reporting agencies namely Equifax, Experian (formerly TRW), and Trans Union. You may also file a dispute online through their respective websites. But take note that updates pertaining to the investigation of your submitted challenge will only be sent to you online if you sent it online; and you’ll get it through mail if you filed it through mail.
And before anything else, take note of the following important tips when filing for a contest as these are the best ways to handle such instances:
- Everything should be in writing. Filing for a dispute credit report is like filing a complaint so everything should be on paper.
- Be concise and make sure you have documents such as receipts to prove the alleged inaccuracies and mistakes in the credit report.
- Send to the original creditor as soon as you’ve verified the errors, at most within thirty days.
- Be patient and persistent at the same time. Never stop inquiring about your inquiry if you don’t get regular updates. Don’t worry, even if you are trying to boost your credit score, it won’t affect it at all.
Filing a Dispute Credit Report Has Its Rewards!
Filing a dispute credit report and score does not end with the investigation. With your efforts and initiative to submit a challenge regarding inaccuracies in your yearly credit report, your credit score actually improves. This is probably a reward system to encourage people to thoroughly review their credit reports. You are now officially prepared to dispute credit report errors successfully.