It is important that you check your credit report at least once per year to make sure there aren’t any mistakes. If you do notice an item on your report that shouldn’t be there, it is important that you contest it right away. There are a few different ways to go about doing this, and it’s crucial that you know about them. By contesting these items that shouldn’t be in your report, you can potentially bump up your score. This article will teach you how to dispute errors on your credit report as effectively as possible.
Why is there an Error on my Credit Report?
The fact is that sometimes creditors make mistakes, and the errors on your credit report are most likely not intentionally malicious. It is nevertheless important for you to take action without delay. These errors can have a hugely negative impact on your credit rating. Whether the error is the result of a simple mistake or something else, you need to do something about it.
Call the Creditor
The first thing that you should do when you find an error on your credit report is to call the creditor. If your credit card company is claiming that you missed one of your payment even though you didn’t, you need to call them immediately. Sometimes the creditor will work with you to get the item removed, but not always. You should be prepared for resistance, because it’s always a possibility.
Make sure that you get as much evidence as possible so you can prove that the item you are contesting on your credit report should not be there. This could mean getting out paper receipts or printing out an online statement. The more evidence you have, the easier it will be to get the item removed from your report.
File a Complaint with the Credit Bureaus
The three major credit bureaus in the UK are TransUnion, Equifax, and Experian PLC. If you have noticed a mistake on your credit report, you should file a complaint with each of these agencies. You can do this online, but you need to have recently ordered a copy of your credit report. The process for filing these complaints isn’t all that long or complicated, but it can take a little bit of time. This is definitely worth the effort when you consider the benefits it could have for your credit score. You shouldn’t expect these bureaus to jump into action, but it is a necessary to step to take in this situation.
Use a Third Party Service
There are numerous businesses that offer services for removing false information from people’s credit reports. These services can be somewhat costly, but it all depends on which one you use. This is a very effective way to get a false negative mark off your report, but only if you are willing and able to pay the necessary cash. Take the time to look into some of the businesses that offer these services before choosing one in particular.
Wait it Out
If you are having serious problems with getting mistakes removed from your credit report, you will just have to wait till they fall off. This can take up to seven years, but it may be your only option. It is very important that you try out all of the other methods in this article before resigning yourself to just waiting. After this period of time has elapsed, these items will no longer be an issue.
Tips to Keep In mind
One of the things that you should keep in mind is that filing for bankruptcy will not remove any negative items from your credit report. It can clear most types of debts, but it won’t do anything to improve your credit (in fact it will do exactly the opposite.) In this case, bankruptcy is not a viable option at all.
While it is true that credit report errors are very rare, you should still make a point of checking yours regularly. By doing this at least once each year, you can stay on top of any mistakes that might be made. The sooner you take action, the sooner you will be able to get the error cleared up and off your report entirely.
It can be very frustrating to have something on your credit report that you know shouldn’t be on it, but it’s important that you are patient. The more of an effort you make, the better your chances will be of making progress with this issue. Sometimes it is not possible to get even false items removed from one’s credit card, so it might be something you just have to accept. You should always try to do something about it though.