Disputing Errors
As we’ve already mentioned, you should carefully review each section of your credit report to determine if it contains incorrect or outdated information. If it does, use our Sample Dispute Letter to notify the credit bureau. Under the law the credit bureau has 30 days to verify the information to insure that it is correct. If the bureau cannot verify the disputed information, it must be deleted from your credit report.
Use the 100 Word Statement
If you dispute information on a credit report that you believe to be incorrect, the creditor may disagree. If this happens, the information will remain in your credit history. But your efforts don’t have to stop there. If you still think the information is wrong, continue to pursue the issue with the creditor. In addition, you should compose a statement of 100 words or less explaining your dispute and send it to all three credit bureaus. The statement will become part of your credit record and will appear on your credit report for as long as the disputed item. You may also use the 100 word statement to explain why you haven’t paid an undisputed bill, as long as the reason is true. For example, a divorce, illness, or death in the family may have caused a delay or a break in your scheduled payments.
Take a step in the right direction
Seven to ten years is a long time to live with black marks on your credit. The good news is that there are steps you can take NOW that will help you to re-establish your reputation as a responsible credit user.
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