Disputing your credit report can be a slow process. Using the dispute process to remove negative items from your credit report can be frustrating. However, it is one of the best ways to remove negative information from your credit report. Starting with the basic dispute process is often the fastest and most effective way to dispute your credit report.
Now that you have your reports in front of you, be sure to review the personal information section and verify that all the entries are correct. Verify your name, date of birth, current and former address, current and former employer, and social security number. Once you have verified your basic information, you should scan all three reports and circle or highlight any errors you find. Scroll down each report and check for any errors or discrepancies regarding counts or queries.
Here are some important red flags to look for:
When disputing your credit report, look for discrepancies regarding accounts and inquiries:
Unauthorized users Customers recorded as deceased Ex-spouse’s name Negative accounts from your divorce Negative cosigned accounts Unauthorized inquiries Illegally reset collection accounts (reporting an incorrect last activity date) Attempted foreclosures Consumer credit counseling Loan indications When questioning your credit report, look for Discrepancies regarding balances and accounts Incorrect balances Credit limits listed incorrectly Duplicate charges Accounts listed incorrectly Lines of credit not listed Paid accounts still showing you owe Closed accounts showing open Closed accounts should say closed by the consumer and not closed by the creditor
When disputing your credit report, look for discrepancies regarding negative business lines:
Late payments, 30, 90 and 120 days Collections Penalties Tax liens Judgments Debt consolidation marks Bankruptcies that do not say withdrawn or dismissed Indication of seizure when it should say voluntarily delivered
Now, before you start trying to repair your credit report, let me tell you what the law says about disputing your report.
The Fair Credit Reporting Act regulates how credit bureaus handle your report under § 611. For procedures in disputed accuracy cases [15 U.S.C. § 1681i]The law provides that if you dispute the accuracy of any item or data on your reports, the credit bureau will conduct a reasonable investigation within 30 days to determine whether the item in question is correct.
After the 30 days have elapsed, if the credit bureau has not verified or completed the investigation, the disputed item must be removed. There you go, that’s the law, and you’ll use it to start your dispute process.
When you dispute your credit report, you can write your own dispute letter or use a standard dispute letter you find online. If you choose to write the letters, you must include your full name, date of birth, address, social security number, the items you are disputing, the reason you are disputing, and your signature below. Once you have your letters ready, send them to the following agencies:
Experian NCAC PO BOX 9701 ALLEN TX, 75013
Equifax PO BOX 105518 ATLANTA GA, 30348
Trans Union PO BOX 2000 CHESTER PA 19022