If your credit score is lower than you think it should be, do not just accept the score as a fact. Get a copy of your credit report and inspect it closely. Check for any incorrect reports that were made to the credit reporting agency. If you find any, carefully craft a response to the credit reporting agency to dispute those issues. A bad credit score can lower your chances of getting financing for a home, a vehicle, and other purchases.
Put It In Writing And Get A Receipt
When filing a dispute over the information on your Equifax report, send a letter with a receipt confirmation. A receipt confirmation is a request you make at the post office requiring the recipient to sign and write the date on a card indicating he received the letter. A copy of this signed card is sent to you by the post office. Chargeoff.com recommends this delivery method instead of faxing or emailing your letter, because a signed delivery confirmation is not possible with those other methods.
Limit The Scope Of Your Dispute
Limit the number of items you dispute on your credit report to four or less. According to chargeoff.com, if you dispute a large number of items in a single letter, a credit bureau might consider your complaint frivolous. Choose the most significant issues, so that, if you are successful, you can remove the most damaging, incorrect reports from your credit report.
Be Specific
When writing your complaint letter, write two to four sentences regarding each disputed report, explaining why you are disputing it. Also, provide corroborating information to support your request that the mistaken information be removed from your credit report.
Time Frame
After you have submitted your dispute, allow up to 30 days for the dispute to be settled. You should receive a letter from Equifax, explaining the credit bureau's decision regarding your dispute within that time frame, according to credit.com. After you receive the response, request another copy of your credit report to ensure the information was indeed removed or corrected.
If You Lose Your Dispute, Don't Give Up
Don't give up if you lose your dispute with Equifax. If your dispute was denied due to a lack of documentation, obtain that documentation and resubmit your dispute letter. Another option is to contact the creditor that made the reporting error directly, and see if you can persuade the creditor to correct the erroneous report. If you can not settle your dispute on your own, credit.com recommends hiring an attorney who specializes in credit dispute corrections.
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