menu

5 Ways To Dispute Discrepancies On Your Credit Score



video
A personís credit score indicates how credit-worthy and financially responsible they really are. A credit report is usually sourced from the nationís three major credit reporting agencies, which includes Experian, Equifax and TransUnion. However, the big three are not immune to errors and major flaws, and according to credit experts, these three agencies incur error rates ranging from 20 to 30 percent, although some of the errors may be as simple as reporting the wrong month of a delinquent account. Nevertheless, any simple credit report errors may still have a damaging on the personís credit score, which can result in the individual getting rejected for a much-needed credit line. Here are five ways for disputing discrepancies in your credit report.

Order a Copy Of Your Credit Report From The Big 3 Credit Agencies

The first thing to do is to order a copy of your credit report directly from each, or any of the three major credit agencies. Donít get your credit report from third-party agencies, because chances are you could be disputing errors or flaws that donít even exist. According to the US Fair Credit Reporting Act (FCRA), the major credit agencies are responsible for correcting or reducing any flaws and errors in their credit reports. The FCRA therefore, enables you to directly contact these credit reporting agencies, and formally relay your disputes or complaints.

Make Sure Each Report Is Not Past The 7-Year Limit

Once you get a copy of your credit report from the major credit agencies, compare each of the reports, and ensure that these are not past the seven year limit for reporting of any errors or negative information. Also determine if the status and delinquency dates are not incorrectly noted.

How To Dispute Any Errors You Find

Once you personally find any discrepancies or flaws, you can dispute these through filing your complaint online, as well as by writing a letter to the specified credit agency. While sending your dispute on the Internet may be much faster, it only offers you limited options to explain your reasons. However, if you write a letter, make sure you limit it to around 100 to 150 characters, or 30 words, to directly state your case. To file your dispute online, visit the agencyís Web site, and look for the ďDisputeĒ option. Enter your identifying information, and proceed to state the dispute. In sending disputes by mail, find the agencyís official mailing address, which is usually located near the end of your report, and include your name and address, report number, as well as the account numbers youíre disputing.

Once you receive a copy of your credit report from any agency, the agency is normally given 45 days to send the results of your dispute. But if you paid for your report, the agency will usually deliver this to you in around 30 days. Once you spot any errors or inconsistencies in your credit report, itís important that you question and dispute all those inaccuracies, and never assume that something is correct, just because itís reported by one of the major credit reporting agencies.


By your GoodBuddy Richard La Compte
You may contact me through my Help Desk


***Sorry Comments Are Temporarily Disabled!

Comments

*Name:
*Email:
Website URL:
Title / Subject:
Hide my email
*Comments:
*
 



Menu


My Articles





loading...




   Related Sites

My Articles


5 Major Threats To One's Credit Score
... continually missing on payments, or making late payments, ...

Credit Monitoring Service: The Pros And Cons
... agencies are often not alerted, or notified about. - ...

How To Repaid Your Credit Score In Less Than One Year
... Always make it a habit to pay on time, and according ...

No Credit History? How To Gain Your Credit Score
... person can get a free copy of their credit report from ...



Related Products:

Related News:

 
What Is a Bad Credit Score? | US News - U.S. News & World Report
Wed, 25 Nov 2020 14:08:23 GMT
    
  1. What Is a Bad Credit Score? | US News  U.S. News & World Report
  2. Make yourself credit ready with 5 financial habits for a strong credit score  The Financial Express
  3. How To Rebuild Credit In 4 Easy Steps  Forbes
  4. DIGGING DEEPER: As financial hardships continue, some turning to credit cards to cover daily costs  WKOW
  5. What Is a Credit-Builder Loan and How Do I Get One?  Motley Fool
  6. View Full Coverage on Google News


How to Make Sense of Your (Dozens of) Credit Scores - ConsumerReports.org
Wed, 04 Nov 2020 08:00:00 GMT
    How to Make Sense of Your (Dozens of) Credit Scores  ConsumerReports.org

How does payment history affect your credit score? - Bankrate.com
Thu, 26 Nov 2020 12:00:24 GMT
    How does payment history affect your credit score?  Bankrate.com