By: Arthur Cooper
Submitted: 2011-02-08 14:01:59 | Word Count: 664
If you find a mistake in your credit report, it can be very distressing. A mistake can drag your credit score down, making it difficult for you to qualify for a mortgage, get a job, or apply for a loan. Writing a dispute letter is the first step in the process of getting your credit score back on track.
You will need to file a dispute letter if you find any kind of inaccuracy in your credit report. Errors that can hurt your credit score include:
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* Open accounts you don’t recognize
* Falsely documented late payments
* Accounts you closed that appear to be open
* Information like overdue child support, accounts sent to collections and late payments that are more than 7 years old
* Credit inquiries more than 2 years old
* Incorrect personal information, like your name, address, phone number, date of birth, previous addresses and social security number
For each mistake you uncover you need to write a separate letter to the reporting agency. Companies like Creditelves can help you compose your dispute letter. An example of such a letter would include your specific personal information, any details about the mistake on your credit report, proof you may have of the mistake, and any other pertinent information regarding the inaccuracy in your credit report. Remember, the three major credit bureaus receive thousands of letters every day, and the easier you make it for them, the more likely they are to respond to your claim quickly and favorably.
The credit agency then has 30 days by law to respond to your dispute. Should they rule in your favor, they will either remove the offending entry from your credit report, or modify your report to clearly reflect the results of their investigation. If they do rule in your favor be sure to follow up. It’s your responsibility to make sure they make the promised changes, and let all the other agencies know about the change. You have the right to request a new credit report after the changes have been made to ensure your report reflects the most accurate financial information about you.
If they rule against you, you have several options as far as how to proceed. You can try again, which the professionals at Creditelves can help you with. You can also try to contact the original creditor and request proof of the mistake from them, or ask them to change the information directly. Additionally, you have the right to add a statement to your credit report explaining the entry you feel is incorrect. While this won’t help your credit score directly, it may make it easier to find work and get a loan if the offending entry is having a major impact on your score.
Creditelves is familiar with the disputing process and can easily help you compose your dispute letter. Visit them today at www.creditelves.com to learn more about the disputing process. Make today the day you begin improving your credit score!
