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Credit Report Disputes – Everything You Need to Know

On Behalf of | Aug 25, 2021 | Consumer Protection

Many Americans looking at their credit reports will find errors of some sort on them.  Some of these errors can be detrimental to their credit standing and harm their ability to obtain credit.  When finding an error on your credit report, the first thing to do – always – is dispute that error directly to the credit bureau that is publishing it.  Here is how to properly dispute a credit report error to ensure your best chance of winning 0results.

What Happens When I Dispute My Credit Report:

When you dispute your credit report, what essentially happens is that the credit bureaus identify what your complaint is, and notify the company that provided that information.  They provide that company with a little time to respond.  When that company responds, the credit bureaus update your credit report – usually with what that company said.  The overwhelming majority of the time the credit bureaus will take the side of the creditor, siding with the consumer only when the creditor fails to respond on time.  All of the credit bureaus provide for an automated/on-line dispute system.  You pick the reason you are disputing, sometimes you can upload documents, and it is automatically sent to the creditor.  No human being sees your dispute and puts an ounce of thought into it.

What is the Best Way to Dispute a Credit Report Error:

While disputing on line can be faster and more convenient, having limits in what you can say and provide is far more harmful.  The best method is in writing.  A letter should be written and sent to the credit bureaus.  It should identify each item on a report that is in error and state why it is in error (i.e. its not my account, it has been paid in full, etc.).  If you are in possession of any documents that support your claim, they should be enclosed.  For instance, if one is identity theft victim and wishes to point out accounts fraudulently opened in their name, any police report should be included if one has been obtained.  If a debt is being reported as unpaid, and you have a “paid in full” letter, that should be enclosed with your dispute.  By providing more information to the credit bureaus, you are providing more of a reason to believe your dispute rather than rely on the creditor’s word.

The letter and documents should be mailed in.  Since the credit bureaus receive tons of letters each day, some tracking method is usually a good idea.  Upon their receipt, they have thirty (30) days to get back to you with the results.  If the results come back stating that inaccurate, untrue and misleading information will continue to report on your credit reports, it is time to contact legal counsel.  SmithMarco focuses on cases involving credit report dispute mishaps.  We have taken on all three major credit bureaus and almost every major lender in the U.S.

If you have credit report errors causing you loss in your ability to obtain the credit you need.  Contact SmithMarco, P.C. for a completely free case review.