The key to winning a dispute with the credit bureau is to know your rights and the process. According to the fair credit reporting act that was enacted on April 25, 1971 you have a right to dispute any inaccurate and wrong information on your credit report. This law serves to protect the consumer against malpractices of creditors and the credit bureaus.
The FCRA lays down the rights, procedures and guidelines that helps consumers in removing negative information on the credit report that is wrong. By removing this negative information you could re-establish your credit worthiness. It is possible to remove bankruptcy, judgments, late payments, collection accounts, charge-offs and other negative items from your credit file permanently as long as this information is disputable.
The very first step in winning a dispute with the credit bureau is to get a copy of your recent credit report. You can get this for free from www.annualcreditreports.com; you can buy it from the credit bureau or dispersal that you may be eligible for a free copy. If your credit application has been denied in the past 60 days you are eligible to get a free credit report from the credit bureau that the creditor used to approve your application.
Viewing your credit report will enable you to see the errors on it. Having a recent copy of your credit report is important since the customer service represented is at the credit bureau need to reference to the account that you’re disputing. Having a recent copy of your personal credit report will help you establish this reference as that is the same credit report that the services representative will be looking at.
You also have the right to visit the credit bureau in person as long as you make your appointment. You’ll be asked to present adequate identification and pay the required fee. You Can Also Be Accompanied by One Other Person of Your Choosing
Can also request your credit report by mail and you should receive your copy within three weeks. You will also receive an explanation of the various notations and emulations the report contains.
The fair credit reporting act gives you the right to dispute any information that you believe to be inaccurate, outdated or incomplete. This act requires that a credit bureau investigate every claim within 30 days. If you send additional information to the credit bureau then they get 15 days more which gives them a total of 45 days to investigate your dispute.
If the bureau does not respond to your initial request within the required timeframe follow up with another letter. This time demand that the credit bureau respond to your application for dispute immediately to prevent your being forced to take legal action. Give them about two weeks to comply and be sure to maintain copies of all correspondence. Send your response to certified mail with return receipt requested so that you have proof of delivery.
If your applications and dispute letters are persistently not the credit bureau is in violation of your federal rights. The credit bureau is compiled by the federal law to investigate every legitimate dispute. Write one more letter and this time send copies of your letter along with the first two letters to the federal Trade Commission and your local office of state Atty Gen.