How To Dispute Inaccurate Entries
With an estimated 79% of credit reports having inaccurate entries, it is very possible that you may have to dispute one or two (or more).
For sake of brevity, we will assume that the errors are inaccuracies due to errors and that you are not disputing collections or other negative reporting in an effort to have it removed to increase your score.
First things first, always dispute via mail, not by telephone or via the internet. You will want to have a record of all your disputes.
Next, make a copy each of the credit reports that contain errors. Using a highlighter, indicate where the errors are located on each report. You should have three copies of your reports, one for each reporting bureau, that you are marking the inaccuracies on.
For each of the three bureaus, write a cover letter with a brief description including what the error is, an account number is applicable, and why you feel the report is incorrect. Be brief when describing the errors by using phrases such as "not mine", "incorrect balance", "duplicate account", or "account closed", etc. Provide any proof that you have to substantiate your claim.
Make sure the dispute letter includes your full legal name, address(es) for the past two years, social security number, and date of birth. To facilitate the process, the bureaus often request a copy of your driver's license or other government issued picture ID.
Once you have packaged everything, make sure you send it Certified Mail, Return Receipt Requested. Although a little more costly and more difficult, you now have a record that the Credit Reporting Agency received the package.
Normally the CRA will respond within 30 days, although it may take up to 45 if you received your report through http://www.annualcreditreport.com/.
Once you have received a response back, make sure you review the report carefully. There should be a summary of your dispute(s) and a resolution indicating "deleted", "verified", "changed", or one of several other possible outcomes.
If the issues are still inaccurate, repeat the process and provide additional documentation if possible. Be aware that some items could have been deleted because the creditor was unable to verify the information within 30 days. If is possible that they could report the deleted information again and have it show up on your credit report. If this happens and is in error, simply dispute it again.
I have been very nice so far in telling you how to dispute errors. Sometimes you have to play hardball with the reporting agencies and your creditors. Many people think that they have to prove their innocence, but in reality, it is your creditors responsibility to prove your guilt. Or in this case, that the information they are reporting on you is absolutely correct.
There are times that you may need the assistance of a professional to deal with creditors who refuse to correct errors. While this may unfortunately require some financial outlay, the long-term cost of errors on your report could be significant, especially if they are causing your credit score to suffer.
Until next time....
Scott
Scott Swinford is an Executive Consultant for the US Consumer Credit Restoration Association and a Certified Mortgage Planning Specialist in Northwest Indiana. If you have any questions, you can send email to scott@USCCRAonline.com.
For sake of brevity, we will assume that the errors are inaccuracies due to errors and that you are not disputing collections or other negative reporting in an effort to have it removed to increase your score.
First things first, always dispute via mail, not by telephone or via the internet. You will want to have a record of all your disputes.
Next, make a copy each of the credit reports that contain errors. Using a highlighter, indicate where the errors are located on each report. You should have three copies of your reports, one for each reporting bureau, that you are marking the inaccuracies on.
For each of the three bureaus, write a cover letter with a brief description including what the error is, an account number is applicable, and why you feel the report is incorrect. Be brief when describing the errors by using phrases such as "not mine", "incorrect balance", "duplicate account", or "account closed", etc. Provide any proof that you have to substantiate your claim.
Make sure the dispute letter includes your full legal name, address(es) for the past two years, social security number, and date of birth. To facilitate the process, the bureaus often request a copy of your driver's license or other government issued picture ID.
Once you have packaged everything, make sure you send it Certified Mail, Return Receipt Requested. Although a little more costly and more difficult, you now have a record that the Credit Reporting Agency received the package.
Normally the CRA will respond within 30 days, although it may take up to 45 if you received your report through http://www.annualcreditreport.com/.
Once you have received a response back, make sure you review the report carefully. There should be a summary of your dispute(s) and a resolution indicating "deleted", "verified", "changed", or one of several other possible outcomes.
If the issues are still inaccurate, repeat the process and provide additional documentation if possible. Be aware that some items could have been deleted because the creditor was unable to verify the information within 30 days. If is possible that they could report the deleted information again and have it show up on your credit report. If this happens and is in error, simply dispute it again.
I have been very nice so far in telling you how to dispute errors. Sometimes you have to play hardball with the reporting agencies and your creditors. Many people think that they have to prove their innocence, but in reality, it is your creditors responsibility to prove your guilt. Or in this case, that the information they are reporting on you is absolutely correct.
There are times that you may need the assistance of a professional to deal with creditors who refuse to correct errors. While this may unfortunately require some financial outlay, the long-term cost of errors on your report could be significant, especially if they are causing your credit score to suffer.
Until next time....
Scott
Scott Swinford is an Executive Consultant for the US Consumer Credit Restoration Association and a Certified Mortgage Planning Specialist in Northwest Indiana. If you have any questions, you can send email to scott@USCCRAonline.com.
posted by Scott Swinford at
10:44 PM
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