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Dispute Settlement with Credit Reporting Bureaus
Whether you are calling credit bureaus, your credit card company, utility company, or another business, you will have more success correcting credit report mistakes if you:
- Stay calm and pleasant. Mistakes do happen, and by staying serene and professional you will encourage businesses to work with you to resolve the issue.
- Have all the information in front of you when you call. Have a copy of your past bill statements, your credit report, your account numbers, and all the other identifying information you need when you call about credit report mistakes. This will save you much time and frustration and will make it easier for companies to identify you.
- Know specifically what to ask for. When calling credit bureaus about credit report mistakes state your claim and your evidence and ask for the mistakes to be investigated and removed. When calling companies that have made mistakes on your credit report, be sure to ask for the mistakes to be researched and then removed. Always ask for all information about the process to be done in writing so that you have a written trail of evidence.
- Send only copies of documents. Originals may get lost in the mail.
- Always ask for written copies of documents to be sent to you. Ask the company that sent in a report to the credit bureau to send you a copy of their correction notice. Ask the credit bureaus for a follow-up copy of your report so that you can make sure that the offending item was removed from your credit record.
If You Can't Settle the IssueSometimes, simply asking for an item to be removed may not be enough. Occasionally, a company may investigate and stand by their original claim of late or non-payment. If this happens, stay calm. Again, send copies of your written proof - such as paid bill statements and bank receipts - to prove your case. Consider meeting with a company representative in person. If this does not help, you can ask the credit bureaus to include your version of events in your credit report. While this will not fix your credit report or record, it will help potential lenders at least see that you have tried to resolve the problem. Finally, you may wish to switch to a competitor if one company seems to keep poor records or seems to contribute unfairly to dings on your credit report. Establishing a long-lasting relationship with a new company can help improve your credit report, as long as you continue to pay your bills promptly.
Obviously, mistakes happen. However, there is no need for you to pay for someone else's errors with bad credit. Even if you find that inaccuracies have found their way into your credit report, there are still several things you can do to help ensure that your credit returns to a good overall shape. Handling disputes firmly but politely will help you build confidence in your money skills even as it helps you build your credit reputation.
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