Credit Repair Tip 6

The Dispute Process

Using the dispute process to remove negative inaccurate items from your credit report can be time-consuming and frustrating.  (Credit files must be 100% accurate, 100% verifiable and 100% timely–according to the Fair Credit Reporting Act.)  Nevertheless, disputing is one of the best ways to have inaccurate negative information deleted from your credit report.  When you are scrutinizing your credit report, make sure to check the personal information section and check that all entries are correct.  Check your name, date of birth, present and past addresses, current and past employers, and Social Security number.  After you have verified your basic information, you should scan all three credit bureaus and circle or highlight any errors you find.  Here are some important red flags to look for:

Discrepancies regarding accounts and inquiries:

  • Unauthorized user accounts
  • Accounts that have the wrong name
  • Negative accounts reporting past the mandatory FCRA time limits
  • Unauthorized inquiries
  • Illegally re-aged collection accounts

Discrepancies regarding balances and accounts:

  • Incorrect balances
  • Credit limits listed incorrectly or not listed at all
  • Duplicate collection accounts
  • Accounts listed incorrectly
  • Paid accounts still showing that you owe
  • Closed accounts shown as open

Discrepancies regarding negative trade lines:

  • Late payments: 30, 60, 90, 120 and 180 days
  • Collections
  • Charge-offs
  • Tax liens
  •  Judgments
  • Debt consolidation marks
  • Bankruptcies not saying “withdrawn” or “dismissed”
  • Repossession indication when it should say “voluntarily surrendered”

OK, I’m finished scanning my report, what’s next?

Contact the experts at Perfect Credit Consulting for a complimentary consultation.  We will work with you to build positive credit, maximize your existing credit and help you repair your damaged credit.