Understanding Credit Scores and Reports
Errors can occur on your credit report, which will negatively impact your credit score. It is important to dispute any errors on your credit report as soon as possible to ensure that your credit score accurately reflects your creditworthiness.
The first step to disputing an error on your credit report is to obtain a copy of your credit report from one of the major credit reporting agencies: Equifax, Experian, or TransUnion. You are entitled to one free credit report per year from each of these agencies.
Once you have your credit report, review it carefully. If you find an error, you can dispute it by contacting the credit reporting agency and the creditor that reported the information. You should provide as much detail as possible about the error, including any supporting documentation.
The credit reporting agency is required to investigate your dispute within 30 days and provide you with a written response. If the credit reporting agency determines that the information is inaccurate, it must correct the error and notify the other credit reporting agencies. If the credit reporting agency determines that the information is accurate, you can still request that a statement of dispute be included in your credit file.
It is important to monitor your credit report regularly to ensure that there are no errors. By law, you are entitled to one free credit report per year from each of the three major credit reporting agencies. You can also sign up for credit monitoring services to receive alerts when there are changes to your credit report.
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