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Credit Report Tips: Filing the Credit Report dispute with ease

By Karen Anderson
Published: Saturday, June 19th, 2010

To make an investment of any kind today, one needs to have an excellent credit history. Every creditor, before taking a decision regarding approval of credit, will ask for the credit history of the applicant. He can find this information in the credit report. Credit reports are prepared by three main agencies in the United States. They are Experian, Equifax and TransUnion. He might request reports from one or more of these agencies. He will then go through your credit history on the report. The reports are up to date and will contain details of every single credit you have and the different transactions with each of these credit accounts.

Mistakes happen in every place. The credit report agency handles thousands of reports each day. It is quite easy to conceive a mistake on their part. However, a mistake will affect your credit score and history adversely. It might affect your chances of a good credit in the future. You must not be made to pay for someone else’s mistake. There is a procedure to repair any damage caused by these mistakes. You can dispute any negative or erroneous entry on the credit report easily. The most important thing is to keep oneself updated on all the information on your credit report. You should detect the mistake as soon as possible to ensure the damage done is minimal. Order reports regularly and check the reports carefully.

The credit report dispute process sounds easy enough even though it is tricky and needs a lot of patience and tolerance. All that one has to do to dispute a credit report error is get a copy of the report and clearly mark the erroneous entry. Write a letter to the bureau requesting an investigation immediately. Add copies of any receipts you might have that might prove your point.

Write the request letter carefully. Do not throw out warning of legal proceedings if you are not ready to sue. This letter is the first communication between you and the agency. Write the letter very professionally. It is a good idea to send the letter via certified mail requesting a return receipt. This way you will have proof ensuring your letter has been received.

The next step would be to wait. You can also write a letter to the creditor whose charge you are disputing informing him of the erroneous entry and the investigation you have requested. He might search for some relevant information and might help the investigation conclude fast. However, people must note that the agency is a bureau that has to be coaxed into action. You will need to wait for thirty days for a letter.

If the investigation has not been concluded within the thirty day time limit, the entry must be stricken off. If there is no reply, one must write a demand letter, demanding the entry’s removal. Also include copies of the original letter and the receipts you sent along with the photocopy of the receipt of the certified mail. You will need to repeat this process until some communication from the agency comes your way. This process needs a lot of patience and one would do well to prepare themselves for a long haul if they are disputing an entry.

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