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Three Crucial Things to Remember While Filing a Credit Report Dispute

By Ruth Racey
Published: Wednesday, October 13th, 2010

The credit report is a document that contains details of your financial and payment history. Not many people know that up to 79% credit reports contain errors and these errors are often overlooked since they are small. It is very important for your report to contain accurate information since this report is used to calculate your financial credit scores. The following paragraphs will help you find errors on your report and help you file a credit report dispute. 

Finding Small and Critical Errors 

Equifax, Experian and TransUnion are the three companies that are responsible for making credit reports and these three companies do not exchange information with one another. In order to find small and critical errors on your report you will need to order your free copy from all three credit companies. You can order one free copy from each company once a year from the authorized Annual Credit Report website. After getting your free reports you will need to tally the transactions on the credit reports with any payment slips, bills and other financial documents. 

Making Sure That You Have All the Facts 

Before filing a dispute you will need to double check all the information to make sure that you have found all the errors. You will need to make a detailed list of all the errors and dispute each entry in a separate letter. You will also need to enclose information with the letter like your name, current address, previous address and social security number. The letter should contain detailed information about the error in the credit report and reasons why you believe there was an error. You will need to attach a photocopy of the incorrect report along with documents that support your claim. 

Wait For the Bureau to Call You but Be Persistent 

The credit bureau will get in touch with you regarding the errors within 30 days and they will let you know if your dispute was accepted or rejected. To ensure that you know if the credit department has got your letter you can send the letter along with the documents by certified mail and ask to be informed when the letter is delivered. In case the bureau doesn’t get back to you then you will need to send another letter containing information about the previous letter. If you have a receipt of the certified mail then you should mention the receipt number in your new letter.

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