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Five effective steps to file for a credit report dispute

By Ruth Racey
Published: Friday, April 23rd, 2010

Credit reports are important documents that help consumers understand that financial and payment history. Due to pressure put by Congress a few years ago consumers can now apply to get a copy of their credit report once a year. At times there are errors in the reports given by the credit bureau and the Fair Credit Reporting Act allows consumers to file a dispute case. This article will tell you five effective steps to follow while you file for credit report disputes.

The first step to file for a credit report dispute is to check the statement for any errors. You should tally the report with any records that you have to ensure that you have indeed found an error. It is always advised to double check the report to see if you have missed anything since you can file a dispute for more than 1 error in your report. You should also double check that the errors you have found are legitimate.

The second step to file for a credit document dispute is to get photocopies of the bills, loan documents and credit document that are in question. You will need to submit photocopies of these documents while you file a dispute.

The third step to file for a credit report dispute is to find the contact details of Equifax, TransUnion or Experian. These three financial bodies are the only companies that can help you correct any errors.

The fourth step to file for a credit document dispute is to send all the documents via certified mail. While opting for certified mail services you should ask for a return receipt. The return receipt will let you know if the credit bureau has received your letter or not.

The fifth step to file for a credit report dispute is to have patience. The credit bureau will take up to 30 days to get in touch with you regarding the error and contacting them numerous times will not help hasten the matter. If the credit bureau does not contact you within 30 days then you can send them a reminder letter stating that you have sent them the required documents. You should also mention the number of the certified mail letter in your second mail to the concerned department.

After your credit document has been corrected you will be sent a correct report and you will be given the option to send rectified reports to anybody who has received an incorrect report in the last 6 months.

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