If you are in need of credit repair help then you are not alone.People today,need to know how dispute error on credit report. As much as you know you may need help with fixing your credit, you probably would like to do this on your own.
It can be embarrassing to have to admit that you need help with repairing your credit.
Do You Know Your Credit Score?
Many people do not know that they have bad credit until they get turned down for a loan. Their mortgage or car loan applications are refused. Then after a little digging they see that their credit score is wrong and have to go about fixing things.
The first thing you need to do is to get a free credit report and then study it. Many times there are areas within your credit report which are inaccurate and you need to take steps to fix these. Carefully go through your report and fix any mistakes. This is the easiest way to start improving your credit score.
When attempting to fix your credit report you have to ask the credit bureau to do so in writing. Point out the errors in your credit report and then keep a copy of this letter for your records. You may wish to send this letter by registered mail.
Most companies are willing to fix the mistakes quickly and you won’t normally run into any issues. If you do have problems with any particular credit company then you may need to get some legal help to fix the errors. This seldom happens and normally a quick letter from a lawyer will be all you need to get the problem resolved.
If you are aware that you currently have bad credit then there are some simple things you can do to improve your credit scores. The first one is to pay your bills on time each month. This can easily give you a couple of points on your credit rating.
One way to get into the habit of paying your bills each month on time is to create a budget. Sit down and compile a list of your monthly bills. Then make another list of all your income sources. Next you need to determine how much to set aside each week to cover all the bills.
If you don’t have enough money to pay all the bills you will have to look for areas where you can make some cuts. Try eating at home more often or not going to the movies as much. Repairing your credit needs to become very important and you will have to make sacrifices for a while to do this effectively.
You may well be surprised at how you can easily start to repair your credit with just a few simple steps.
How to Dispute Errors on Your Credit Report
Once you have your free credit report you need to check it for accuracy. Mistakes do happen and if you find any on your credit report then you must take steps to have it corrected as soon as possible. Errors left on your credit report can affect your credit score and you can find yourself turned down for credit the next time you need it.
The Fair Credit Reporting Act or (FCRA) allows you to dispute any error found on your credit report. The credit bureau must investigate your claim thoroughly. The credit bureau has 30 days to look into your claim and make the necessary adjustments. This must be completed within 30 days of you filing your dispute.
If you wish to file a dispute you must do so to the appropriate credit bureau in writing. It is advisable to keep a copy for your records. If the claim is verified it will remain on your credit report. The credit bureau does have the right to reinstate the entry after the 30 day time period. In order to do this they must inform you in writing at least 5 days before including the entry again.
Communicate With The Credit Reporting Agency
Another way to get false or inaccurate details removed from your credit report is by talking to the company concerned. Before calling the credit agency it is wise to ensure that all your payments are up to date. Especially if you are requesting that late payment dates are to be removed.
Sometimes enlisting the help of a credit agency can resolve any disputes. This can be helpful if you are attempting to have repossession information removed from your credit report.
It isn’t always possible to get bad entries removed from your credit report just by asking. If talking hasn’t helped then you need to take positive action. What this entails is for you to keep all your payments current. Don’t allow any bills to be paid late anymore. This can easily raise your credit score by a few points. Over time this can make a huge difference in your credit rating.
To dispute errors on your credit report remember you must file a letter with the appropriate credit bureau, keeping a copy for yourself. The credit bureau has 30 days to respond and either verify the entry or delete it. They do have the right to reinstate the entry if it becomes verified at a later date. You will be informed of this before it happens.
To maintain a good credit report always pay your bills on time and don’t default on a current payment to pay an overdue account. Your priority should be to keep all good standing accounts in order.
Writing an Effective Credit Repair Dispute Letter
A good credit score is one that is preferably over 650, if your current score is lower than this then you should think about ways to improve your credit score. The best way to do this is by writing an effective credit repair dispute letter.
Before writing your letter you will need a copy of your credit report. You are entitled to one free report each year and can get it from any of the three credit agencies Equifax, Experian or Trans Union.
As you study your credit report look for any mistakes, as you find them make a note of each one. Write down the type of error and which credit agency has it listed wrong. Once you have this information you can begin composing your letter.
The first thing to remember is that you should only dispute one error per letter and you should send each credit agency a copy of this letter. The credit agency has thirty days to investigate your claim so give them enough time before sending a follow up letter.
Whenever possible send supporting documents along with your letter and keep a copy of everything for your own records. Make note of the date you mailed the letter and record any phone calls that you receive regarding your letter.
When writing the letter word it as professionally as you can, don’t just list a string of complaints. Explain what the error is and ask them to verify the information. Once they begin their investigation any mistakes will become apparent.
If you need to write several letters just use the same outline with each letter and include the new error along with any documentation that you have. Keep your writing polite and don’t make accusations or point any fingers. This way your claim is more likely to be resolved quickly.
The Fair Credit Reporting Act or FCRA was implemented in 1970. It was set up to allow people to dispute claims that showed up on their credit reports. If you feel that there is an error you have every right to ask for it to be verified.
As mistakes are found and corrected the credit agency will send you an updated credit report and tell you what your new credit score is.
Don’t rush when writing your credit repair dispute letter. Explain the errors professionally and include documentation if you have any. Once your letter is completed mail it and wait for a response. This could take up to one month so be patient.