Disputing Errors On Your Credit Report Can Save Your Score
Topics: college loans, personal loans, debt consolidation
You have heard about all of the recommendations to get a free copy of your credit report, right? Well, perhaps you have wondered why… I mean after all, the credit reporting agencies are professionals who know what they’re doing, so why should you have to worry about any mistakes? Actually, even professionals mess up sometimes, and in fact, the majority of people have found at least one error on their credit report before.
So what do you do now? You have finally gotten a copy of your credit report, looked through it, and lo and behold, you have found something that counts against your good credit reputation and want to get rid of it. But how exactly does one go about fixing something on their credit report, how long will it take, and do people really meet with success in matters like these, or is it just an exercise in futility?
You can either do this alone, which many people have done and have proven successful in doing so, or you can seek the aid of credit repair services. However, credit repair services cost you money, when you could just do it by yourself and only be spending the effort it takes to write the dispute letter and do the follow ups. Either way, it’s up to you.
The first thing you must do is write and send the dispute letter. There are several formats you can find on the Internet or through advertisements in the mail that you should follow to get the most professional sounding letter. A dispute letter is the first thing that will get your problems out in front of the credit reporting agencies to see, which they must then investigate once they receive your dispute letter.
It is important to be specific when it comes to writing a dispute letter. Write details that will help the credit reporting agencies to better and more quickly investigate the problem. If they know what you want changed in your credit report, who it involves like a credit card company or department store, and what you want them to do with it, which in most cases is to eliminate the statement altogether, it will be easier for them to investigate the problem, do more specifically what you want them to do with the problem, and eventually eliminate it if they find it to be illegitimate.
When disputing your credit report, find all the problems that you want fixed and address them all at once. It is much easier to get your problems fixed all at the same time. Disputing them one by one can take a tremendous amount of time, when you could have saved so much more effort by disputing them all together.
Obviously, when you write your dispute letter, you need to include your personal information. Your social security number, driver’s license information, full name, and address are mandatory for the progress of this dispute. It may seem trivial, but many people neglect to give parts of this information and only slow down the disputing process.
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