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How to dispute your credit report errors

Your credit report contains important information about you. It usually includes information on the identification, your bill paying habits, inquiries and public records.

Credit bureaus compile and sell your company credit information they use to evaluate your credit application. Therefore, it is important that your credit report contains full and accurate information.

Under the Fair Credit Reporting Act, you have the right to question the integrity and accuracy of information in your credit file.

If you find information on your credit report that you believe is wrong, you have to do is complete the survey form special application that comes with your credit card. Follow instructions on the form to complete all the necessary information.

You can also attach a letter with your application, dated and signed by you, and copies of any documents which helps demonstrate the error in your credit file.

Documentation may include copies of canceled checks, receipts sales, account statements or previous correspondence between you and the creditor.

Attach a letter to the research request form is always a good idea if you do not believe that the research office in the form of credit gives you enough space to explain why you think there is an error in your report.

Keep a copy your completed application form to the survey, a letter and supporting documentation. They provide records of what you say and when you have said. In addition, the letter date to know when to have heard of the credit bureaus.

When you complete the application form for research, publish, together with your letter, and copies of all documentation. Send by certified mail, return receipt requested. When retrieving the signed receipt, file with the rest of your credit information.

When a credit bureau receives a dispute, you should investigate and determine the current status of items in dispute in a "reasonable" period – between 30 and 45 days, unless it is believed that the dispute is "frivolous or irrelevant."

If the credit bureau can not verify a disputed item, must remove it.

If the report contains errors of information, the credit bureau must correct it.

If an item is incomplete, the office credit must complete.

If an investigation does not resolve your dispute, the Fair Credit Reporting Act allows you to file a statement of 100 words explaining its history.

The credit bureau must include this explanation in your credit file each time you send. Office employees often are credit available to help the word of his statement.

Be aware, however, that when negative information in your report is correct, only the passage of time can assure its removal.

Credit bureaus are authorized by law to report bankruptcies for 10 years and other negative information for 7 years.

In addition, any negative information can be reported indefinitely for use in evaluating your application to:

– $ 50,000 or more credit;

– A life insurance policy with a face value of $ 50,000 or more;

– Consideration paid for the job $ 20.000 or more.

© 2005 Bruce Liu. All rights reserved.

About the Author

Bruce Liu is the author of the ebook “Insider’s
Guide To Credit Repair”.

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