How to File a Dispute to Clear Your Credit Report

By | August 29, 2013

Clearing up your credit score can be one of the best things you can do for your credit. If you have a low score, get a copy of your credit report and determine why it is low. The IRS says that everyone is entitled to one free report annually, so use this to your advantage to get your credit cleaned up and in great standing. You may find that there are things on your score that are inaccurate, and if that’s the case you can file a dispute to have it fixed.

How to File the Dispute

Once you have a copy of your report, you can file a dispute based on the information you are given on the report. There will be the name of the reporting agency listed, as well as an address and telephone number to reach the agency. You can call that number to inquire about their process for disputing a claim on your credit report that you feel is incorrect. Many of these reporting agencies require that you put any disputes into writing and provide evidence that the report is false.

How Long It Takes to Reflect

Once you have used a copy of your free credit score to dispute this information, it can take up to 10 weeks for it to be corrected. It can then take another 30 to 60 days before it shows on your credit report. The agency has to verify your identity, remove the claim from your score, and then find the right person to which the claim should have been given. This can take a bit of research, which will take time. Plus, there is paperwork you must fill out and sign, and the faster you do that the faster the agency can fix the mistake on your score. If you take too much time getting them the paperwork, you are only delaying the process to have your credit report free of inaccuracies. In the meantime, if you do require a credit loan, there are several reputable companies liken Positive Lending Solutions specializing in loans e.g caravan,car etc.

How It Helps Your Credit

Every time a debt is removed from your credit, it reflects positively on your credit. If an agency reports that you owe them $800 for a credit card you’ve never own, it shows as a negative against your score. Once you have that totally removed, your score is brought up because the negative score is gone. Any time you have the opportunity to improve your score by paying something off a debt or clearing up mistakes, you should take it. It only helps your score.

Filing a dispute against adverse things you see on your credit score can help you rid yourself of bad credit, and this is especially important to do if that bad credit doesn’t belong to you. While credit reports are generally accurate, there are times when one number can be transposed, and now you’re stuck with the credit score of someone who isn’t as responsible as you are. File a dispute with the reporting agency and follow up with them to get your credit back in good standing.

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