TransUnion, one of the "big three" credit reporting companies, compiles all the information they receive from lenders into your credit report. As a credit bureau, TransUnion keeps credit history about you including your address, payment history, employment, and other personal information. Whenever you apply for any type of credit, a lender pays a bureau for access to your credit record to see your financial history.
This is why it is so important to make sure the data on your credit file is accurate and up to date. If TransUnion is indicating inaccurate information about your history, you need to file a dispute.
To dispute your TransUnion Credit File, follow these steps:
o STEP 1: Draft a credit bureau dispute letter
o STEP 2: Mail the letter via US Registered Mail
o STEP 3: Wait for the results and a copy of your updated report
Review your credit report very carefully so that you can dispute multiple items at once. However, keep in mind disputing many items at once may result in serious delay. Credit bureaus have been rumored to "red flag" people who dispute more than a few items at a time. This is just one of the many obstacles of "do-it-yourself" credit disputes.
What Should I Dispute?
TransUnion receives all types of information about you which is subject to errors or inaccurate data. Sometimes a credit report may show derogatory payment history that does not tell the whole story. Lenders typically view your credit history in "black and white" to determine whether you are a good credit risk or not.
Here are some examples of items to dispute:
o credit cards – charge offs, 30,60,90 day late payments, or a small amount of available credit
o store credit – charge offs, late payments, small amount of available credit
o cell phone suppliers – collections, charge offs
o credit unions – mortgage delinquency, auto delinquency, or any late payments
o banks – any type of delinquency
o state and federal courts – judgment or public record from any type of debt
o bankruptcy sentences – Chapter 7, 11, 13, are included in bankruptcy items
o mortgage companies – late payments or foreclosure
What Happens if my TransUnion Dispute Fails to Delete the Bad Credit?
It is important to know that sometimes getting a TransUnion report corrected can be very time consuming and cumbersome. The next step may be to work with the creditor on a resolution. Another alternative is a process called debt validation that is tactical, but highly effective as an escalated dispute process.
If you are unfamiliar with these processes, then you may consider enrolling the services of a credit repair law firm to ensure a quick and effective resolution. A legal professional seasoned in the credit disputing process can help you save time, money and frustration.