Dispute Credit Reports: How to Dispute Credit Reports

Disputing a credit report can be a confusing process. Consumer credit reports can vary in the fashion they look and the order data is listed depending on which of the iii major national credit-reporting bureaus provided the study. Consumers tin obtain their complimentary credit reports once every 12 months at www.annualcreditreport.com. Nevertheless, Equifax, Experian and Trans Union are currently offer free weekly online credit reports to help offset the recent economic challenges that have afflicted people around the world.

If you believe that there is inaccurate information on your credit report, it'southward important to know what you can dispute and the steps to accept.

Before Disputing, Review Your Credit Reports

Get-go by getting a highlighter and a pen out and become through your credit report detail past particular, page by folio; highlight the items that are reporting incorrectly and make a note next to the detail to aid yous in the dispute procedure post-obit these guidelines:

  • Wrong personal information – Name, addresses, social security numbers, appointment of nativity reporting incorrectly.
  • Negative items that are beyond the statute of limitations for reporting – There are specific reporting laws with regard to how long a negative item must report on a consumers credit report.*See below the Statute of Limitations for Reporting
  • Inaccurate reporting of account or other information – for case, a collection was paid two years ago, just information technology still shows a balance. Or an business relationship was included in a Chapter 7 bankruptcy simply it is reporting as a charge off account with a balance still attributable.
  • Mixed or split credit files – for example a male parent and son have the same proper noun, Sr. and Jr. Or credit from someone who has the same proper noun is on your credit report.
  • Duplicate reporting of an particular – for instance two collections for the same debt.
  • Fraud or Identity Theft information – where you may encounter inquiries, accounts or collections you never practical for.

Dispute Credit Report Inaccuracies:

You may write to the credit reporting agencies with the information yous accept highlighted with a request for correction/deletion depending on your specific dispute. Mailing your messages certified or return receipt is recommended. Sample disputes letters can be found on folio 113 of credit.org'due south ebook, Consumer Guide to Good Credit, available for free download in English and Spanish.  You lot may also dispute some items online at www.annualcreditreport.com.

Statute of Limitations for Reporting:

Negative entries on your credit report take different reporting limits. Typical retention periods are stated below, and may vary by state:

  • Affiliate 7 Bankruptcy: ten years from the date of entry of the order of relief or adjudication.
  • Chapter thirteen Bankruptcy: 7 years from the date of filing if discharged. All the same, if the case is dismissed for non-payment and the Chapter xiii programme was not completed, the derogatory trade line item could and then stay on for seven years from the appointment it became runaway.
  • Unpaid tax liens: report indefinitely while unpaid.
  • Paid tax liens: report for 7 years from the engagement of payment.
  • Unpaid child support: varies by state and does non e'er written report merely in general volition bear witness equally a judgment while unpaid. The judgment may be renewed in some states, so it will continue to written report every bit long as a remainder remains. In one case paid, may remain for 7 years.
  • Civil suits and judgments: 7 years from the appointment of entry or 7 years from the paid date.
  • Tardily payments: 30, threescore, 90 or 120 days late payments may be reported upwardly to seven years from the date of delinquency.

Knowing these limits is an important step to determine if the information is obsolete and if a dispute is an advisable grade of action to pursue.

How to Dispute Credit Reports

Private credit bureaus may have their ain process for disputing credit study information. Experian, TransUnion and Equifax all have their own processes, and then depending on which report yous demand to dispute, you may need to reach out individually.

Most credit bureaus take unlike options for reporting credit report inaccuracies, including via online, phone, or mail. Some take a dedicated dispute middle on their website.

If you have questions well-nigh disputing credit reports, you tin talk to a certified credit advisor for free. Call us today or get started online.

Bring together us for our next free fiscal webinarEssential Couponing on September thirty at 10:00 AM PT.  For more details and to register please visit: https://credit.org/events/.

Virtually The Writer

Melinda Opperman is an exceptional educator who lives and breathes the creation and implementation of innovative means to motivate and brainwash community members and students about financial literacy. Melinda joined credit.org in 2003 and has over 19 years experience in the industry.