1 / 8

How & When to Dispute Credit Information Reports

Opening a credit report with error could lead to lower credit scores and impact your chances to open a new credit account or get a loan. The credit information companies investigate your claim of dispute which lasts at least 30 days.

crifhighmark
Download Presentation

How & When to Dispute Credit Information Reports

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How & When to Dispute Credit Information Reports?

  2. Opening a credit report with error could lead to lower credit scores and impact your chances to open a new credit account or get a loan. However, due to a lack of understanding of credit, it can be difficult to determine what factors may affect your credit score. The dispute process isn’t complicated, but it can be time consuming. Following these steps, you may be able to win your credit dispute and get your credit history back on the right track:

  3. Step 1: Download your credit report Credit reports list your accounts and your payments, as well as any problems like late payments, collections. you need to download the detailed credit information report. You can download one free credit reporteach year.

  4. Step 2: Inform the Credit Bureau If you’ve spotted an error on one of your credit reports, you should take immediate steps to correct the inaccuracy. The information has to be shared in the form of online appeal and in writing via a letter. • Clearly identify each disputed item in your report. • State the facts and explainwhy you dispute the information. • Request deletion or correction. The letter should be supported with copies of documents verifying your dispute. Always ‘request read receipt’ for your letters.

  5. Step 3: Contact the Lenders To ensure that the error on your report is solved, you have to contact your lender that has given the information to the credit bureau. If the error is relating to identity you can contact to the credit bureau directly like CRIF. You can go to the lender and ask them to correct the mistake in case the mistake is rectifiable from their end.

  6. Step 4: Count 30 days The credit information companiesinvestigate your claim of dispute which lasts at least 30 days. Begin by telling the credit bureau what information you believe is inaccurate. After they finished their investigation, the bureau is also required to provide you with a free copy of your credit report if it has changed. Keep copies of your dispute letter and enclosures.

  7. Step 5: Check your credit report Regular checking of your credit score is known as a Soft Inquiry. Updates to your affected credit reports may take some time to appear. It can depend on the specific credit bureau’s update cycle and when the furnisher sends the new information to the credit bureau. If the update doesn’t appear on your credit reports within several months,contact the credit bureaus and the lender to verify it’s reporting your account information to the bureaus.

  8. You can get both your personal credit score and business credit scoreby applying directly on the link mentioned below: https://cir.crifhighmark.com Follow CRIF India on : /CRIF INDIA

More Related