How to dispute a credit report error
One of the best ways to improve your credit score or get on a path to an excellent credit score is to clean up your credit report. Your credit score is completely based on the information found on it and having incorrect info could be hurting your score.
The first step on how to dispute a credit report error is to get a copy of each of your credit reports. You have three and each can have different information on it. Since the info can be different this it can create a different result for your credit score.
The second step on how to dispute a credit report error is to go through each report and record anything you believe to be incorrect. This is important because you will need some type of reference so can research each item and follow up on it.
You also need to know what you are looking for. The first section of your credit report will be your personal information. This information will not be included in the actual calculation but is still worth a look. Common errors could be a misspelling of your name or a scarier sign of identity theft such as an address you have never lived at.
The next section is your accounts and it will include your credit limit, balance, account information, and payment history to that account. The most common negative entries here are going to be late payments and anything over seven years you can dispute to be removed. Also, again look for any accounts that you don’t know about which is another sign of identity theft.
This will be followed by your credit inquiries. These are anytime your credit report has been checked. You mainly care about those checks by creditors which you applied for a loan with. These are known as hard inquiries and will factored into the credit score calculation. Any of these over two years old can be disputes and removed from your credit report.
Another section you need to check is to look at any public records you might have such as potential tax liens, collections, bankruptcies, and judgments. Bankruptcies over 10 years old can be disputed to be removed. Also, you want to check for double collections. These can be possible if you have defaulted on an account and they resell the debt to a new company which you don’t pay either. And new company and the old company have both have sent you to collections for non payment. These can also be disputed to be removed.
I hope these help answer the question: How to dispute a credit report error? But these are only a few methods and there are a few more. Furthermore, these do not guarantee a credit score boost or even if they will be removed. The process of the actual error dispute is a completely new post
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Tags: Credit Score, credit score range, credit score scale
Posted in Credit Score, FICO score
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