Learn 9 Steps to Removing Credit Report Errors
- Watch the calendar. Their response should be postmarked within 30 days of receiving your letters.
- Evaluate the responses you receive back. It’s likely that some of your disputes will be found in your favor. It’s also likely that some will not. One credit bureau has been known to simply give you what you want without investigating at all!
- Continue disputing all the negative items. At the end of the day, the credit bureaus exist to make money. They make money by selling credit reports, not by dealing with consumers. Your disputes cost them money. With a little diligence, you’re likely to get your way, so be persistent.
- Consumers have historically done well when suing the credit bureaus. It’s difficult for them to truly verify the information in your credit reports. If you’re not satisfied with the results, consider filing a claim in small claims court. Credit bureaus get fined $1,000 per infraction. You’ll likely settle out of court and get your credit report cleaned up.
- Stay organized. Maintain records of all your correspondence. Make copies and keep those copies filed in an organized manner. Be sure to keep track of dates.
Fixing the errors on your credit reports is simple, but it does take time. It’s important to check your reports every year. The cost of credit reporting errors can be staggering, as they can dramatically increase your interest rates on any loans you receive.
Request your credit reports today and spend the time to examine them carefully. Consider making it a part of your annual financial housekeeping.
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