Sometimes there is not a lot to going over your credit reports. You read over them double-check a few items and more or less forget about them till next year. Or maybe you are in a different situation. This could be the first time you have ever ordered your credit reports and some of the things just don’t seem right. Initially it may seem quite troubling to notice these wrong items. The truth is many people are not aware of the way to go about fixing the issue. Here will discuss the easy way to remove these things and stop the damaging effects that they have on your credit.
Be certain to keep good records
In order to dispute an item you will need to provide documentation to the creditor and the credit bureaus. Since you clearly won’t know beforehand what the errors will be keep good records. Canceled checks, billing statements, and receipts are all awfully handy when disputing an item. Keep the originals for yourself and send copies to whatever parties may need.
Advise the credit agency
By law the credit company must analyze all legitimate allegations that are put in writing. If you notice gaffes take action as swiftly as possible. Remember that just because an item is negative doesn’t mean it’s incorrect. You only waste your time and everybody else’s by submitting false claims.
First compose a letter to the credit reporting agency with an exhaustive outline of the false item. Provide as clearly as practical why this item is in error. Include with the letter copies of all supporting evidence. Also include your name and address.
Mail this info by certified mail with a return receipt requested. What this does for you is let you know when the item was received. The credit company is required to research all written claims within 30 days. This is the initial investigation so do not expect a full resolution in that time frame. It can unfortunately take much longer.
Notify the creditor
Follow the same steps that you took when you made contact with the credit bureau. Once the creditor has been notified they must include a note on your credit history showing that the item has been disputed. This can continue until it is determined to be correct or in fact an error. To assist in protecting consumers the burden of proof lies in the hands of the creditor. If they cannot prove that the item is true it’s got to be corrected or removed. Many laws are either in the midst of being passed or have passed recently that deal with how items are reported. The government is starting to crack down thanks to the problems these inaccuracies have caused the American people.
It’s very vital to be thorough in checking over your credit report every year. Screw ups are unfortunately common and unless you find them chances are no one else will. It’s critical that you fix your credit report errors because they will hurt your score. If you find that there are multiple mess ups or if you do not have time to do this yourself please look into professional credit fixing, there are affordable and reputable companies out there.
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