Disputing a Negative Credit Report in 5 Easy Steps

Knowing what’s on your credit report is very important, especially with identity theft on the rise.  If you don’t keep track of what’s on your report, you won’t know something’s wrong until you go apply for credit.  Then you get denied and don’t understand why.  You can avoid this embarrassment by checking your credit report regularly. 

It’s really not unusual for mistakes to appear on your report.  Creditors are not without fault.  Every day average people deal with the repercussions of creditor’s mistakes. Creditors may report false late payments, paid balances aren’t removed properly, or accounts are opened in your name.  There’s no end to the number of mistakes that could be on your report.  If you want to fix these mistakes, you have to go through the process of disputing your credit report.  Below are 5 steps that will guide you through the process. 

1. Order a copy of your credit report and make sure it contains the report from the three credit bureaus Equifax, Experian and TransUnion.  Go through your report line by line, checking for any false information.  If you find mistakes, follow the next four steps.  If not, check your report periodically to avoid them.   

2. Make a list of all of the mistakes and the creditor that reported them to the bureaus.  Call each creditor to inform them of their mistake.  Let them know that you expect it to be fixed in a timely manner.  Keep a note of who you spoke to and what was said.

3. Follow up with a letter to the creditor disputing the mistakes.  Provide any documentation they require to prove the discrepancy.  Send the paperwork certified mail to be sure they receive it. 

4. Now you will need to get a dispute form from the credit bureaus.  Follow the instructions and fill out the forms exactly as they state.  Type a letter that explains the mistakes and give the name of the creditor that made them.  You will also need to send any supporting documentation that will prove the mistakes.  Again, send all of the paperwork certified mail.

5. Keep copies of any paperwork and records of phone conversations, including names and dates.  You should also make sure you are updated on any progress.  You may need to call the credit bureaus and check in.  Just make sure to stay on top of them until the mistakes are removed.

Your credit report should be kept accurate at all times.  You should have no problem disputing any information you’re not sure about.  It is up to the creditor reporting the information to give you and the credit bureaus proof.  You can follow these easy steps anytime you need to dispute your credit report.  Keeping your credit report clean is the easiest way to have good credit.