Discovering mistakes on your credit report can be frustrating, as this document plays a considerable role in your livelihood. As such, understanding the necessary steps to fix credit report errors is critical. Unfortunately, many underestimate how involved this process can be. If you’re unfamiliar with how to proceed, the following blog and a California credit report lawyer can help you navigate these complex matters.
What Are the Most Common Credit Report Mistakes?
Generally, there are two common kinds of errors you may find on your credit report. Those regarding your personal information and those regarding your financial information. Generally, only errors about your finances will directly impact your credit score. These include duplicate accounts, incorrect balances, false reporting of late payments, or listing closed accounts as open. These errors can be the result of false reporting, identity theft, or user error.
Errors regarding personal information do not always impact your credit score, but they can affect your ability to obtain a loan. This is because the information on your report may not match what is on your application, and as such, you can be denied.
What Steps Must I Take to Fix Credit Report Errors?
Unfortunately, many assume that simply informing the credit reporting agency of an error on their account is enough to have the mistake fixed. However, this is far from the truth, as you must file a formal dispute with the agency.
It’s important to understand that filing a dispute can be done online or via mail. However, it’s in your best interest to mail in the dispute, as technology can limit your explanations about the error or lead to your digital dispute being corrupt or the documents refusing to open.
As such, the first thing you should do is print out two hard copies of your credit report. You’ll want to make two versions so you can mail one and keep the other for your records. On the credit report, highlight the incorrect information. You must then explain why the information is incorrect and clarify that it must be remedied or removed from your account. You should attach supporting evidence to show the information is false.
When you mail the dispute to the agency, you should do so via certified mail. This ensures you get a receipt that the agency received your dispute.
What Should I Do if I Need Assistance?
Once you file the dispute, the agency has thirty days to investigate and issue a decision. If the dispute is denied, you may want to resubmit with additional information. However, if you have nothing else to prove the information on the report is incorrect, you may be unsure where to turn. Luckily, working with an experienced credit reporting disputes attorney from Loker Law, APC, can help.
At Loker Law, we understand the impact false information on your credit report can have, which is why our team is dedicated to doing everything possible to help ensure your report is correct. If the reporting agency refuses to fix these circumstances, connect with us today to learn how we can assist you through these complex matters.
