How to Dispute Items on Your Credit Report


Credit Rating Grade imageThis guide will help you learn how to dispute errors and inaccuracies on your credit report. The details included in your credit history generally includes your bill payment history, residence history, employment history and many times your legal history. It is necessary to understand that too much of this information (if unfavorable) will have a damaging effect on your ability to open new lines of credit as well as the interest rates of your current credit. Having detrimental items on your credit report may also hinder your ability to obtain high paying jobs in particular markets.

Discover and Dispute

It is usually advisable to monitor your credit report on a bi-annual basis at minimum, even if you are fairly certain you have a strong credit rating. Mistakes are just a part of life, however mistakes on your credit report can have serious consequences if not dealt with quickly and properly.

If you discover an error in your report, open a claim and file a dispute. The credit bureaus are obligated by law to investigate the claim. The creditor is also required by law to repair the error, if the claim is found to be in your favor. While this is good news, unfortunately most companies will not look into a credit error issue on their own unless a formal dispute has been filed.

Disputing Inaccurate Credit History Details

Here are the basic steps for starting a credit dispute:

  • Get a copy of your credit report & history and identify the items that you feel are errors or inaccurate.
  • Contact the credit bureaus in writing to advise them of the finding and request they investigate the errors.
  • Mail a copy of all the supporting documents regarding your dispute and mail them to the credit bureaus.

The credit bureaus don’t move quickly, so don’t expect immediate results. Their investigation will usually start within one month. All information you supplied will be utilized in this process so ensure you deliver valid, correct and clear information. This is basically what credit-repair businesses would do for you, but with a little effort, it’s something you can-do yourself.

The creditors/lenders are subsequently requested to assess the accuracy of the error and report back to the credit bureau . In the event that the information you provided regarding the reporting inaccuracy is found to be correct, the creditor has the ability advise each credit bureau in order for your credit history to be corrected. If the inaccuracy is found not to be an error, but legitimate, you will see no change on your credit report.

If your dispute is unable to be resolved, you have the ability to leave a dispute notice on your credit report, so anyone viewing it will see that some items listed may not be 100% accurate.  The credit reporting agencies will provide you written proof of all correspondences with the creditors they deal with in attempting to resolve your dispute.

You really have the choice to leave a notice of difference of opinion in your credit history in order that everyone who views it comprehends that this might or might not be exact, but when the ticket stays unsolved. All communication with the credit bureaus will be in write for the documentation too as theirs.

When the first lender does not refile, all negative notations in your report are immediately dropped from your credit report after seven years.