A credit dispute report – when does it appear? Let me explain clearly about this first. We always have the full credit report that is been sent by the agencies. You can find some inaccuracies in the report which will affect your credit score.
The disputes that most commonly could be filed are Fraudulent Accounts, Inaccuracies, Outdated information, Information from someone else's file etc. We should always be particular to check the mistakes and report it to the agency asking them to file the credit dispute.
On reinvestigation of our credit dispute that is been filed, the agency will act accordingly, provided us with a credit file reflecting the results of the reinvestigation at no charge. We should carefully note that the information that is been disputed is changed or removed from the file. If the information that we disputed has been re-verified it will remain in our credit file, in this case we can always request the agency to show the credit report as disputed and can add a statement of explanation to our credit file.
The Fair Credit Reporting Act (FCRA) is always in favor to the public and gives us the right to dispute credit report information that is not correct. If the information is inaccurate, the credit reporting agencies (CRAs) must either remove or correct the disputed information, usually within 30 days. Filing a credit Dispute – we should write to the credit bureau as well as to the information provider about the dispute and a credit bureau can take maximum of 30 days to investigate on the dispute hat is been filed against the possible inaccuracies on a consumer's credit report .
The credit bureau in turn should write back to us about the result of the dispute that is filed. If there is a change in the dispute result the bureau should send a free copy of the report regardless of the customer's request. In case if we have our statements or canceled checks in favors of our claim, we can include the copies of them with our statement keeping out original safely with us.
In the statement we need to include our full name, our complete mailing address, our date of birth, the name and the account number of the creditor, the information that we are disputing, the reason why the information is not accurate, and your signature . It would also be fine if we provide the social security number too. This would help them us access our credit report.
After the credit dispute is resolved, we need to ask for a new credit report to verify whether that the items that are disputed have actually been cleared. If you want the results of the reinvestigation mailed to you, you should NOT submit your dispute to through online, but should submit it by mail or phone.