How To Dispute A Negative Credit Report

Some people can go years and never know what’s on their credit report. This is not a safe practice. Hardly a day goes by that you don’t hear about a new credit card or identity theft scam. If you don’t look at your credit report very often then you may never know until you go to apply for credit. Suddenly you get denied and have absolutely no idea why.

Of course scams are not the only reason for negative credit reports. Many times there are mistakes from your creditors. You could have supposed late payments or paid balances that were never removed. Let’s face it. Companies are not one hundred percent reliable. They are bound to make mistakes, and you’re the one who pays for them, in the form of a bad credit rating.

This is why it’s very important for you to know what’s on your credit report. If you don’t know, you need to request a copy as soon as possible. Make sure you get a report from all three credit bureaus. Once you have your report you need to go over it thoroughly, checking for any discrepancies. If there aren’t any, that’s great. Just make sure to check your report every now and then to keep it that way.

What do you do if there are mistakes? Well there are a few things. First you’ll need to list all of the problems and the creditor that reported them. Then you will need to call the original creditor. Make sure you’re not calling a collection agency. Let the company know that they made a mistake and that it needs to be fixed. Keep a simple record of the phone call that includes who you talked to and what was said.

They may require you to send documentation of payments. That’s fine because you need to follow up with a letter disputing the mistakes anyway. Make sure to send the paperwork certified mail.

The next step is to contact the credit bureaus to get a dispute form. Once you receive the form, make sure to fill it out. Along with the form, you need to send a letter explaining the mistakes, the name of the creditor that reported them, and supporting documentation. You should send this package certified mail as well.

Make sure you keep copies of your paperwork and records of any communication. You can call the credit bureaus for progress. You need to stay on top of it until it is removed. Follow these steps any time you need to remove a mistake from your credit report. Don’t be afraid to dispute items you think are false. It could save your credit rating from significant damage.