When there is an error on your credit report, you can’t help but wonder, “does disputing credit report work?” It is not easy to know if disputing credit report really works. Sometimes, we hesitate on starting the dispute process out of fear that it might actually end up lowering our credit score.
Fear not. This article is solely written to reassure that disputing credit report does work and that credit reporting agencies’ responsibilities are to maintain fairness, accuracy, and privacy for all consumer reports (it says so under the Fair Credit Reporting Act).
There are many reasons for disputing a credit report. The main goal for disputing credit reports is to correct any inaccurate or incomplete information on the consumer’s credit report.
If an error stays on the credit report for long, it may unfairly represent consumers and negatively affect their lives when attempting to get a loan, rent an apartment, apply for a job, and open a new credit card.
One of the best ways to dispute items on credit reports is to write a credit dispute letter to the credit reporting agencies. If the claims are legitimate, the agencies will investigate the issue and correct the errors. The first step to write a dispute letter is to obtain a credit report.
Does Disputing Credit Report Work? – How To Get A Credit Report
One way to get a credit report is to obtain it from credit reporting agencies. Another way to obtain it is through AnnualCreditReport.com. From their website, you can receive a free annual copy of the credit report from each credit reporting company.
The reason for getting a copy of the credit report before writing a dispute letter is to use the most recent version of the credit report. If using an outdated copy, there may be an error more recent that may appear on the credit report.
Writing A Credit Dispute Letter To Credit Bureau
After obtaining the most recent credit report copy, check and circle all items that you see are incorrect or incomplete. You will be attaching a copy of the credit report with the markings to the credit bureaus later, and the markings will help them find the disputed items quickly.
The next step is to actually compose a dispute letter for the credit agencies. If you have not written a dispute letter before, check this article to see a template for a dispute letter.
When writing the letter, make sure that you clearly describe the disputed items. If the credit reporting agencies find your claims to be frivolous, they are not obligated to carry out an investigation. A frivolous claim is one that lacks sufficient information to warrant an investigation.
After finishing the dispute letter, go ahead and send it to the three national credit bureaus. Send the letter via certified mail, return receipt requested, so you can document what the credit reporting companies received. Don’t forget to attach copies of your credit report as part of enclosures.
Speak To A Credit Dispute Attorney For Advice
Sometimes, credit reporting companies may ignore or refuse to fix your credit report errors, even though you have provided sufficient information in your dispute letter. A credit dispute lawyer will be able to help you further in this situation.
If the credit bureaus have knowingly refused to correct your credit report, the credit dispute lawyer can file a lawsuit against them to collect compensation for any damages the credit report errors may have caused.
Credit dispute lawyers at Consumer Action Law Group offer free legal advice for anyone needing guidance or questions answered. They can also help file a lawsuit against the credit bureaus for not fixing your credit report errors.