Loker Law

When Should I Dispute an Item on My Credit Report?

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Credit scores play a massive role in your financial life. From determining whether or not you can take out a loan to purchase a car to securing a job, this number has a significant impact. If you’re like the average adult, you’ll check your credit report every once in a while, and when an error appears, it can cause panic. Luckily, you can dispute this information. However, a California credit report lawyer can help if nothing is resolved. Keep reading to learn more about this process.

What Information on a Credit Report Can be Disputed?

When there is an inaccuracy on your credit report, it can be a number of things.

For instance, it can be the inclusion of an address you never lived at or the wrong date of birth. Though it may not seem like a big deal, when this identity-based information is incorrect, you may find that you’ve been denied loans, applications, and even jobs. Luckily, this can be quite simple to change.

However, if there is info pertaining to accounts you never opened or debt you’ve never taken out, it’s vital to dispute this information, as it can significantly impact your credit score. Unfortunately, this may also be a sign that you’ve been the victim of fraud or identity theft.

To debate this information, you’ll be able to file a dispute with the credit reporting company, as is your right as a consumer. The credit reporting company will respond when they have reviewed the dispute, either updating, deleting, or leaving it to remain on your account. If you disagree with the outcome, you can submit a new report with additional information to help prove the information is incorrect.

Will a Dispute Hurt My Credit Score?

Filing a dispute will not directly impact your credit score. However, if this dispute changes information, it can directly impact your score.

For example, identity-based information will not change your credit score, as this information has no impact on this. However, if you dispute information such as a debt you do not owe and it is removed from the report, your credit score will likely increase as a result.

If you’ve submitted all the necessary information but the error or incorrect item still remains on your report, you’ll want to enlist the help of an experienced attorney. The importance of an accurate credit score cannot be stressed enough, and you shouldn’t have to suffer the results if the credit reporting company does not take the necessary steps to remedy the error.

At Loker Law, we understand the importance your credit score has on your life. If you’re suffering due to a credit union refusing to remedy the information on your report, contact us today. Our dedicated legal team will help fight for your rights.

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