- HOW IT WORKS?
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Following are the steps that should be followed while an individual is trying to dispute mistakes on the credit report.
- You should send all the required documents by a certified mail and it should have the option of return receipt requested
- If the individual sees that the problem is not getting solved, then it should be re-disputed with the credit issuers and the credit bureaus
- If there disputing does not help in solving the dispute, then the credit bureau and the credit issuer should be sued
- It is recommended not to use the automated system to dispute
- It is advisable to use the manual form all the time
- It should be noted that the people who are offending will always be in front of the court and try to remove the black mark from the report
- You need to file the dispute simultaneously with the credit bureau as well as the issuer of credit
- If nothing is going to work from all the above options, then you need to contact the Consumer Financial Protection Bureau for help.
Precautions to be taken in different circumstances
- While sending your dispute via an email:
- A dispute letter has to be written
- You need to send it through a mail that is certified. This will enable it to get tracked when it has received.
- You should include only the Xerox copies of the documents. Avoid sending the original documents.
- While sending your dispute online through any one of the credit bureau portals
- It is not required to write a letter, but the error has to be explained and the place where exactly the error has occurred has to be shown.
- This can be submitted directly to the bureau and the status of the dispute can be checked online
- You will be asked to upload documents that are required.
- The final conclusion will be sent to you through an email.
How to Write a Dispute Letter in An Effective Way
The following points are to be considered while writing a dispute letter in an effective manner.
- Correct Address: It is important that you mention the correct address, the final result of the dispute will be sent to this address.
- Precise Information: You need to mention the exact inaccuracies in a precise manner without elaborating the context.
- Do Not Mention Laws: The credit bureaus are already aware of all the laws. So do not mention about the laws.
Guidelines to Dispute Errors
- Mention about The Inaccuracies: An online application form should be filled up by mentioning the exact inaccuracies in the report. All this information should be brought to the notice of the Credit Reporting Agency.
- Wait for a Reply: After filing the dispute you need to wait for a period of 45 days so that a proper cross verification is done and the errors in the reports are corrected.
- Obtain a Copy of Credit Report: You need to obtain a copy of your credit report from any of the three credit reporting agencies.
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