In order to maintain good credit, you have to be in the habit of monitoring your credit report and disputing misinformation. You need to ensure that your credit report paints an accurate picture of who you are and your money management. Monitoring your credit report allows you to defend yourself against identity theft and making sure the credit bureaus have accurate information.
Ordering Credit Reports
Order your credit reports from Experian, Equifax and TransUnion and pay the fee to receive your credit scores. You can order your credit report for free, but the free report does not contain your credit score. You want the credit score so you are aware of your starting point prior to disputing information. Credit reports can be ordered online or you can write them and include your payment expressing that you want your credit score.
Locating Inaccurate Information
Once you received the credit reports, begin highlighting inaccurate and negative information. When disputing misinformation, it is important to provide a copy of the documentation that proves what you are saying is correct. You have to send a letter to each bureau disputing the misinformation if the dispute is on all three reports. If it is only on one, then send it to that specific one. The goal is to make sure your credit report is accurate.
File Your Dispute
Once you have written your letter, it is best to make copies of all the documentation you are sending. Also you want to mail it certified return receipt so that you are able to see when it was sent. If you send it regular mail without any type of return receipt you will not know for sure when they got it.
Tracking Credit Report Corrections
Once you have received the certified return receipt, create a chart that shows when you mailed the letter, the date you received the return, and also include a block that shows when you get the corrected credit report back. The credit bureaus are required to investigate the dispute within 30 days and contact the company you have the dispute against. Once the bureaus have completed their investigation, it is their responsibility to provide you with the results of their investigation and if appropriate, a corrected credit report.
Additional Requests
Consumers can make additional requests of the credit bureaus that can benefit their credit with another creditor. For example, the consumer can request that the credit bureau send the corrected credit report to anyone who received a copy of your report within the prior six months. Also, consumers can ask that corrections be provided to anyone who previously ordered the credit report for employment considerations up to two years prior.
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