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Disputable Errors in Your Free Credit Report

By Ruth Racey
Published: Friday, September 4th, 2009

Just a few days before, you were thrilled to find the perfect means of obtaining a free credit report. You immediately registered to get that freebie but then when you receive the report, you find out that it contains a lot of errors! Shocking? Not really, for statistics show that roughly 70% of the free reports issued contain errors. So, if you receive a report that bears errors all over it, do not fret for you are far from alone.

Now that you do have your hands on your free credit report laden with errors, what then is the next step you should take? The first thing you should do is write a letter to all of the credit bureaus that report the error. Make sure that the letter you write is a polite one, as this would actually entice a faster and polite reaction as well.

Make sure to include a copy of the concerned credit report with all the errors highlighted. Include explanations for each error with focus on what makes each entry erroneous.

Once the concerned credit bureaus receive your letter, they would then contact the concerned creditors and investigate the errors you highlighted. Do not expect immediate results for these transactions usually take 30 days.

When they do get back to you with results in your favor, then the highlighted errors would then be removed from your free credit report. However, if your creditors contend that the error here is indeed a valid entry, which they have provided an explanation for as well, then you still have the right to disagree here. The next step would then be to create a short statement that highlights the reason why that particular entry should be deemed invalid. This statement would then be included in your record and your future creditors would be given a copy of this with your records as well.

Here are some of the common errors that are easily removed. The first would be for things you did not purchase, or for things that were bought by another person who does not have the authority to use your credit account. The latter could be a case of identity theft or your credit card being stolen. Another error could be an item that you ordered but was not delivered to you. Or, another case could be that the item itself was delivered to you but you refused to accept it when it was delivered to your house or office. Of course, for this situation, valid reasons should apply.

Do not hesitate to report errors that you find on your free credit report. Credit bureaus do aim to correct valid errors as fast as possible because penalties against fast correction can be stiff. Just make sure you have the needed evidence to support the errors you find.

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