Credit Report Dispute – The Way to Remove Flaws on My Credit Report

Whenever you find flaws on your credit report or some negative items on it, this may get you too worried since you know that a bad credit report can hugely affect the credit score and you don’t want this to happen. However, if the unwanted entry has appeared on your credit report the last time you checked, then you need to find a way to remove such from your credit report. The way to go is through a credit report dispute; however, this process can consume lots of time. Sometimes it can be frustrating to go through this process. Nonetheless, this is the best strategy to eliminate the negative issue on your credit report.

Common Credit Report Issues for Dispute

The mistakes on the credit report are usually more common than you’d imagine and as said, will cause a detrimental impact on your credit score, interest rates, creditworthiness and several other areas of life. According to statistics, almost seven in ten of credit reports contain at least one error. Among the very common errors in a credit report include the following:

• Consumers listed as deceased
• Unauthorized users
• Former spouse name
• Negative accounts from the divorce
• Unauthorized inquiries
• Accounts that are negatively co-signed
• Attempts for foreclosure
• Incorrect balances

There are many other unwanted items that would call for a credit report dispute. Hence, it is important that you are diligent when you review your credit report. Now that you have a better idea of the errors on credit report that you should watch out for, then you should also know that to do with them if you have spotted them on your own credit report. But, don’t worry since you have an absolute right to dispute negative errors and especially those that are reported wrongly. The credit bureaus are mandated by law to have all credit report disputes investigated and also with the source of the mistake. It may be a utility company or a retailer’s fault.

Recommended Steps for Credit Report Dispute

• Know and stand for your rights. A credit bureau employee or probably a creditor tries to ignore or dismiss your claim for a dispute. You are entitled for an investigation of your claim within a month. They may only refuse to go through the procedure if they believe that your claim is just frivolous.
• Let them know of the error. When you have noticed the error on your credit report, let the credit agency know this. It is important that you notify them at once and not allow for days to pass. Also, when contacting them, you need to include your important information as well as the supporting documents. So here are some of the following things that you have to prepare:
  • A letter with your reports of erroneous information including your name and address
  • Support document copies
  • An accurate explanation of the reason for the error dispute
  • Request the agency to remove the error form your credit report

You need to make sure that your report is sent through certified mail and there should be a request to return receipt so that you can verify the receipt of your letter of dispute.