How to Fix Your Credit – Part 3
Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising."
In 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
- 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.
- Highlight each error you see on your report.
- Make a copy of each separate page of the error as well as the first page of your report.
- 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.
- 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?
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Unfortunately, I have first hand experience with this. Getting hacked is no fun! =(
Jennifer recently posted…How to Make Money Online with Your Kids
Oh sorry to hear that! Hopefully they put a fraud alert on your account to keep this from happening again.
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.
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!
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!
Wow, that’s excellent info to include! Thanks for sharing that.
Thanks for the great tips. I love learning about things like this because you never know when this info will become important. My husband normally deals with all credit card issues.
Shaney Vijendranath recently posted…How to keep your legs silky smooth
Credit education is so important. You can’t do anything as an adult without at least decent credit. Thanks for sharing this information.
Leslie recently posted…Paula Dorf’s 3-in-1 Perfect Color Ecstasy- for eyes, lips and cheeks
So far, I have not had any issues with this, but my sister-in-law has had someone steal her identity twice now. It totally messed her up in so many ways. These are great tips to know for anyone else going through this!
Vicki W recently posted…AYL StarLight 330 LED Lantern
I am hoping to improve my credit as I am working very hard at my past bills. Thank you for a great article.
susan quackenbush recently posted…#Bloggeropp Looking for #Bloggers with Anniversaries Mar – May to Join
I have never had to file a dispute, but this is very good information to know. If I ever have to file a dispute, I know how.
Echo recently posted…A Day In The Life of a Child and Piglet Rearing Momma!
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
I think online could be a fast medium to file a dispute. It can also give you faster response than fax or mail.
Franc Ramon recently posted…Remember the 44: A Solidarity Ride and Run
Great tips for repairing your credit! I am thankful we haven’t had to dispute anything on our record.
tammileetips recently posted…Concept art from Marvel Ant Man Movie!
I know from experience that trying to clean something up on your credit report can be very tricky. These are great tips.
Penny Struebig recently posted…Shrimp and Scallop Stroganoff
This is great advice! So important for people to know how to fix their credit!
This is great and thanks so much for the tips! I need to fix mine asap 🙁
Angela recently posted…Happier ever after ;; version 2015
These are great tips. My Mom taught me early on to do little by phone as there’s no proof of anything, she taught me to always have things in writing. I like the suggestion to file online.
Great tips! So much to deal with when things go wrong with credit cards! I depend on this so much.. would hate going thru any of this.
vidya sudarsan recently posted…Stylish Storage Ideas
Awesome tips! Hopefully I will never have to file a dispute but if that happens I’ll definitely look back on this <3
Angelic Sinova recently posted…Firmoo: Stylish and Affordable Glasses
I never had any disputes yet but thank you to these great tips. Now I know what to do just in case I have any.
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