Generally there is not a lot to going over your credit reports. You read over them double-check one or two items and more or less forget them until next year. Or maybe you’re in a different situation. This could be the first time you’ve ever ordered your credit reports and some of the things do not appear right. At first it may seem quite unsettling to note these inaccurate items. The fact is many people don’t know the way to go about fixing the issue. Here will debate ways 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 companies. Since you clearly won’t know beforehand what the mistakes will be keep good records. Canceled checks, billing statements, and invoices are all really helpful when disputing an item. Keep the originals for yourself and send copies to whatever parties may need.
Notify the credit agency
By law the credit bureau must investigate all valid claims that are put in writing. If you happen to detect errors take action as swiftly as possible. Remember that simply because an item is negative doesn’t mean it’s inaccurate. You only waste your time and everyone else’s by submitting false claims.
First compose a letter to the credit reporting agency with a meticulous outline of the inaccurate item. Provide as clearly as practical why this item is wrong. Include with the letter copies of all supporting proof. Also include your name and address.
Mail this information by certified mail with a return invoice requested. What this does for you is let you know when the item was received. The credit bureau is required to analyze all written claims inside 30 days. This is the initial investigation so don’t expect a full resolution in that time frame. It can unfortunately take much longer.
Inform the creditor
Follow the same steps that you took when you contacted the credit agent. Once the creditor has been told they must include a note on your credit history suggesting that the item has been disputed. This will 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 act of being passed or have passed lately that handle how items are reported. The government is starting to crack down because of the issues these mistakes have caused the American people.
It’s very vital to be thorough in checking over your credit report each year. Errors are sadly common and unless you find them chances are no one else will. It is vital that you fix your credit report errors because they’ll hurt your score. If you find that there are multiple errors or if you don’t have time to do this yourself please look into professional credit repair, there are cost-effective and reputable firms out there.
If you want help improving your scores please check out my site on credit repair. You can also learn the precise strategies I used to fix my credit.