Mister Line Editor
Mister Line Editor
  • Editing Proofreading Services and Prices
  • Editor and Proofreader
  • About Me
  • Blog
  • Children's Books
  • Customer Reviews
  • Contact Me
  • Editing Proofreading Services and Prices
  • Editor and Proofreader
  • About Me
  • Blog
  • Children's Books
  • Customer Reviews
  • Contact Me

How to Dispute a Credit Report Error by Letter

6/26/2018

0 Comments

 
Jill Krasny reports:

"
Formally disputing an error involves writing a letter to the credit bureau reporting the inaccuracy...Errors are not created equal and, unless you’re specific and provide evidence for your claim, you risk having your dispute denied. Here’s what you should know if you’re getting ready to send a credit repair letter...An error on your credit report...can seriously damage your score, making it harder to secure an affordable line of credit...With this in mind, it’s wise to get a copy of your credit report...and go through it with a fine-toothed comb to spot any issues...As with any financial paperwork, you’ll want to make sure the basic information...is correct. (Also ensure it’s complete and up to date.) Beyond that, you’ll want to verify each creditor’s name and debt listed on the report. Spot something unfamiliar? Jot it down, and give that creditor a call to get to the bottom of it. Some lenders sell loans or transfer them to another servicer, so there’s always a chance that you either ignored the notification or never received one. Either way, you’ll want to find out. You’ll also want to look for any signs of identity theft...(If you believe you’ve been a victim of identity theft, it’s a good idea to act right away. You can find a full list of steps to take if your identity has been compromised.) Mixed files — that is, when someone with the same name or a similar name applies for credit, and their file becomes mixed with yours — are another common occurrence, according [to] a 2009 report by the National Consumer Law Center...If you’ve reviewed your credit [report and spoken] with each furnisher and [you] still believe that an item on your report is inaccurate, here’s what to do, according to John Heath, a consumer attorney with Lexington Law, a Credit.com partner. Include your name, current address and a reference line, titled 'Re:' Here, you’ll list the name of the creditor and the account number on your credit report. Be sure to truncate that number to the last four or five digits for security, Heath advises...After your salutation, 'start off by letting the bureau know you are challenging [a certain] item and give the reason why...and ask them to verify that it should be on your report,' Heath says...Heath says, 'I think it’s important so that the person reading the letter understands you are aware of their obligations under the law and that you expect it to be done within [30 days].' You can leave a telephone number for them to contact you, 'but that rarely happens,' says Health. 'Usually the letter will trigger an investigation, and then the bureau will send you results.'...In terms of what not to include, Heath says vitriol or 'demanding speech that is unprofessional' is completely off-limits. 'Don’t make threats that you can’t back up,' such as a lawsuit, and aim to make it a 'polite, business-like communication.' Avoid name-calling, too. See a sample letter for reference...Whether you choose to send your dispute by mail or online, you’ll need to include copies of any supporting documentation...(If you take the digital route, you’ll receive an email notification.) From there, you’ll just have to wait — 30 days, to be exact. That’s how much time the credit agency has to get back to you with a response...(Note: Some disputes can, by law, take up to 45 days.)...If the statement is deleted, you’ll know your hard work paid off. If not, you have a couple of options. First, you can add a short written statement to your credit report, which will appear next to the item you disputed (think of this as a flag). Experian offers some standard comments addressing the most common issues. Consumers can also add multiple statements, although if they have more than 10, they’ll need to call the agency. The second option is to escalate your dispute and send a letter to the agency explaining why you feel the conclusion is wrong. (You can copy the Better Business Bureau, your state attorney general, and the Consumer Financial Protection Bureau while you’re at it.) Be sure to keep records of your dispute, including copies of credit reports, correspondence and print-outs of emails. Keep them in a file where you can readily find it. If your attempts to remove the dispute don’t work, you can also hire a reputable credit repair company to help. A good credit repair company will never promise results and won’t take payment until they’ve rendered services on your behalf."
0 Comments



Leave a Reply.


    Writing and editing can be pretty rigorous processes if you want to do them well, but that's what this page is here for. Check out the latest tips here.

    Archives

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015

    Categories

    All

    RSS Feed

    Picture
    J.D. Parsons
    Author
    SEO Writer
    Proofreader
    Editor
    Internet Researcher
Proudly powered by Weebly