Once you’ve obtained a copy of your report and reviewed for errors, highlight each error and get ready to contact each bureau in order to dispute the information. Some of he errors may include listing a credit account twice, reporting an account as late or delinquent when in fact it is up to date, reporting an account as having a balance when it’s been paid off etc etc. You may even find an account that doesn’t belong to you and in this case, you will need to take immediate action and freeze your account at each bureau.
How To Dispute Information From Each Credit Bureau
When disputing information from each of the credit bureaus, you will need to follow the procedures for each one as they are different. However, the plus is that they all allow you to dispute online, saving you time and money! Keep in mind that if you need to send in supporting documentation, you will need to mail that information in to their respective physical addresses.
Equifax
Start here. Equifax requires that you obtain a copy of your credit report directly from their website so you will need to do that first before getting started with the dispute. Yes, this is even if you’ve obtained a copy of this elsewhere.
Experian
Start here. Experian requires the same as Equifax. Get a copy of your report directly from Experian and follow their directions to initiate the dispute.
Transunion
Start here. Rinse wash and repeat!
When the credit bureaus receive your request to dispute the information, they will contact your creditors on your behalf. In most cases, the creditor has 30 days to respond and in some cases 45 days to verify the information as accurate based on the nature of your dispute. If the creditor verifies the information as accurate then it will remain on your profile. However, if they report the information as inaccurate then the bureau will remove the information from your report.
Resources
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- This is a site that doesn’t seem to be well known within the personal finance community but is a goldmine of credit dispute help and information. Planet-feedback gives you a direct line to creditors and companies by allowing you to plead your case to have information removed or have a situation resolved with the companies themselves. Try it out. Results are based on the strength of your letter and who reads it on the other end, but in credit dispute situations, most seem to get the desired result-deletion.
- This site is the holy grail of all credit sample letters and information on how to dispute judgements and get medical accounts off your report! Because everyone’s credit situations are so different, check this out to find sample letters to send to creditors to support your case.
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Another alternative is to dispute credit errors by using a credit repair service. After a consultation, they’ll be able to give you more insight into how best to dispute the errors in order to increase your scores.
If you’re new or just joining us, you can recap here:
- 21 Days To Rock Your Finances: Day 1- Create A 1 Year Financial Plan
- 21 Days To Rock Your Finances: Day 2- Identify Your Financial Weaknesses
- 21 Days To Rock Your Finances: Day 3- Track Every Penny Because Every Dollar Has A Job
- 21 Days To Rock Your Finances: Day 4-Automate Your Bills
- 21 Days To Rock Your Finances: Week 1 Recap
- 21 Days To Rock Your Finances: Day 5- Make Extra Money
- 21 Days To Rock Your Finances: Day 6- Review All Bills And Expenses
- 21 Days To Rock Your Finances: Day 7 -Zero Based Budgeting
- 21 Days to Rock Your Finances: Day 8- Trim The Fat From Your Budget
- 21 Days to Rock Your Finances: Day 9 -Review Your Credit Report
