Some experts estimate that nearly one in four individuals with a credit history has a serious error on their credit report that has lowered their credit score and increased their borrowing costs. The three biggest credit reporting bureaus handle a huge volume of information on a daily basis and much of this information is processed by real people, allowing human error to have an effect on the accuracy of the information. Some of these errors are serious enough that the individuals affected have been denied credit that they otherwise would have qualified for, which is generally how individuals discover that their credit report contains errors. Fixing your credit report can be easy if you follow these simple steps.
Prepare As If Going To Court
Even though you may not have to go to court to remove an error from your credit report, you should begin the process as if you will have to go before a judge and prove your case. Keep track of all of your interactions with representatives from the creditor that reported the error or representatives from the credit reporting agency that issued the credit report. Because you do not know how long it will take to resolve the dispute or where the dispute will take you, it is best to begin as if every action will be called into question at a later date. Act professional at all times and take very good notes about each contact made to resolve the situation.
In the rare cases that it takes more than two calls to resolve a credit report error, you will want to make sure to document everything as events unfold. Write down details such as when you received a document, who you have talked to, and what time phone calls were made or received. This will help you keep track of the progress that has been made and will impress a judge if the creditor or the credit reporting bureau refuses to fix the error.
No matter how frustrating the situation becomes, remember to act businesslike at all times when dealing with creditors or the credit reporting bureau. The person that you are talking with to resolve the issue probably had nothing to do with the initial mistake and are often doing everything within their power to help you. Remain calm and professional while speaking with the representative and if you do not get the answer you are looking for, escalate your complaint as far up the chain of command as you can. If all else fails and you feel like you have proven your case beyond a reasonable doubt, it may be time to contact an attorney and take the matter to court.