Disputing Credit Reports Is It a Waste of Time?
If you search the Internet for disputing credit report info you'll come up
with varying opinion on whether the process is worth while or not. When ever
you're reading posts on a forum about credit repair, or even some ones articles
you need to make your own decisions. This article will cover some of the basic
information about disputing credit report errors, and hopefully help you make
your own decision.
Why you wouldn't want to dispute credit report information
There are two reasons people usually don't want to dispute their credit
report.
- They don't understand how to do it
- They're afraid they'll cause more damage then they might repair
In both of these instances it's education that is missing. When disputing
credit report items you need to have a basic understanding of how the Fair
Credit Reporting Act works, and how you can use this to your advantage.
If you're not sure about your rights to disputing your credit report, or feel
uncomfortable about handling it yourself consider hiring a professional to take
care of it for you.
Disputing Credit Reports on your own
The systems are in place that allow you, me, or anyone to challenge items
that appear on our credit reports. What we need to know is that it's not legal
to dispute every item that appears on our credit bureau history.
Disputing credit report information means to question and inquire about items
that don't seem correct, and might be appearing in error on your file. The
process to handle such a claim is as follows:
Disputing Items on Credit Report
- You need to have a recent copy of your credit report on file. You can
request one once each year from all three of the credit reporting agencies
for free. Any more then that and it will cost.
- You need to review your credit reports with a fine toothed comb, looking
for irregularity and small items that appear in error. Some people will find
out right errors that shouldn't be on their reports, while others will find
smaller errors.
- You then need to write to each credit bureau disputing the credit report
item., or hire a professional to handle your case for you. Either way the
reporting agencies need to be contacted via mail.
- The credit bureaus have 30-45 days to investigate your claim and deem it
an error or correct. After this you will receive a reply as to the findings
of your claim.
- Start the process over again if you had more then on credit report item to
dispute.
Disputing credit reports isn't rocket science but there are a set of
guidelines you must follow. If you're not familiar with the rules and
regulations you can cause yourself more harm then help. If you don't have the
time to investigate how to handle your own credit bureau dispute then
consider hiring someone to do it for you.
Not only will it give you peace of mind that the disputing of credit report
items is being done properly, you'll also increase your chances of success
thanks to the experience and track record of many credit repair lawyers, and
other professionals.
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