Reviewing Credit Reports
To review your credit report, first you have to collect the copies of your report. You can collect
them from three major credit bureaus: Experian, Equifax, and TransUnion.
Identifying Errors on Credit Reports
Try to check for any errors such as payment history, incorrect information, identity theft,
incorrect balance or credit items etc. and highlight them for corrections.
Gathering Supportive Document
For having a strong and successful dispute, try to gather all of the relevant documents such as
bank statements, correspondence with creditors, payment status etc.
Disputing Errors Through Credit Bureau
Disputing of errors can be done through online websites of three credit bureaus or through
sending letters via mail. The specific errors should be explained clearly. You can use supporting
documents to have a clear and specific dispute. To ensure that whether your mail is received or
not, you can use a mail tracker with a return receipt.
Following Up on Disputing
Credit bureau usually takes 30 days to investigate your claims. They will send you a response
whether the items have been changed, removed or remaining unchanged. If the credit bureau
confirms any errors, these will be corrected accordingly.
Communicating with Creditors (If necessary)
If the credit bureau refuses to do any corrections, you can contact creditors (bank, lender,
collection agency) who are responsible for reporting the information. Send them the same
information of errors and request them for corrections. If they agree, they must inform the credit
bureau of the correction.
Attaching Consumer’s Statement (If needed)
In terms of unsuccessful disputing, you will get an option to attach your consumer statement.
Potential lenders will be able to review your credit based on this brief statement (up to 100
words).
Monitoring Credit Regularly
You should keep an eye on your credit regularly to avoid future errors. There are some free
services that can help you in monitoring. Such as: “Credit Karma” or “Experian’s free credit
monitoring”.
For having a healthy financial stability, disputing inaccuracies on your credit is an important
step. By utilizing the opportunities of reviewing credit reports and disputing errors using free
services, you can happily experience a flawless and strong credit.