How to Fix Your Credit – Part 3

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How to Fix Your Credit3In part 2 of the How to Fix Your Credit -Personal Finance Series, I reviewed the 7 Important Sections of your report. Now we’ll discuss how to handle any inaccuracies you’ve noticed.

The Four Dispute Methods and Which is Best

There are four methods to dispute any inaccuracies you find in your credit report. Either way, each credit bureau you file a dispute with has 30 to 45 days to investigate the situation and inform you of the outcome.

  • Phone
  • Fax
  • Mail
  • Online

I truly would not recommend disputing anything via phone with anyone. There may be proof of you calling in, but absolutely no paper trail. Who knows if the representative you spoke with is detailing everything necessary?

Fax is not bad as you can send electronic faxes these days and keep an accurate record of what was sent. However, who’s to say it’s received on time and processed clearly?

Mail, or snail mail, is just that. A slow process. However, it can be effective if you want proof of a credit bureaus receipt of the information as well as needing to show them exactly what you see. In fact, in some circumstances, the bureau may ask you to send documentation in anyway.

Online is the easiest and in some cases fastest method to file a dispute.

To file your dispute click on for the following:

4 Steps to Filing Your Dispute

The online versions again are for simple disputes. When you need to back up your info, go for the mail option. Here are four tips to do so.

  1. Highlight each error you see on your report.
  2. Make a copy of each separate page of the error as well as the first page of your report.
  3. Type a letter (typing versus writing so that it’s 100% clear) explaining the inaccuracy. To get a great start, check out this Sample Dispute Letter by the FTC.
  4. Send a copy of this dispute to your creditor as well. This ensures everything is in their hand, and nothing falls through the dispute process.

Make sure to follow up with your dispute if you do not hear anything back. Ensure they’ve received your request in 5 business days. You would be notified via email if you filed an online dispute and via mail if you phoned or sent them the dispute via mail.

If your dispute is found valid, it will be removed from your report. Ensure your other two reports are updated by sending a copy to the other two credit bureaus. However, if they deny your dispute, the information will stay on your file. If you feel this is still inaccurate, try again.

Be sure to keep up with the series. Below, you can check out the series on Pinterest and pin them for later. Next Monday in Part 4, we’ll discuss how to negotiate terms with your lender.

Follow I-S-Diva’s board How to Fix Your Credit: An ISDiva Personal Finance Series on Pinterest.

Have you had to file a dispute on your credit report? If so, which method did you use and how was the process for you?

~ Independent, Smart, Diva! Like this post? Please share with your friends!

Comments

  1. says

    I filed a dispute once with a previous rental property, which had stated we had lived at the property 1 month longer than we had. It took awhile, but by following the exact steps you had above, we were able to resolve the matter. Great tips, thank you for sharing!
    Ashley recently posted…I’m Decrapifying.My Profile

  2. nazma says

    Really great post. Getting hacked is not good at all and it’s a shame these creditors can’t update credit reports with the accurate information as fast as they put inaccurate info!

  3. says

    May I add to this. Some of us I’m sure have X-husband’s that we filed bankruptcy with. No. 1 you can get that off your record if you can prove it was his fault that the bankruptcy was filed (like not working & your home with the kids). That bill was passed in 1991, and also if you do have bankruptcy on your record & it’s been more then ten years send Equifax prroof (case no. and copy is even better of first page of BK) that it’s been 10 yrs. & they will take it off your record. They cannot keep an eye on everyone’s report you have to notify them & they will do it for you. Thanks for all of your input too and sharing! HUGS
    XmasDolly recently posted…Monday’s Music Moves Me!My Profile

  4. Courtney says

    omg this is such good info!!! Thankfully my credit isn’t that bad… But before we bought our house we had to fix my hubby’s credit from his college days lol

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