Is There Any Point in Disputing Your Credit Report?
Way too many Americans have no idea what is on their credit reports. Someone could be in the beginning stages of stealing your identity right now and unless you look at your credit report you would have no idea. Many people get rejected for loans or credit cards on the basis of their credit report and still they have no desire to see what is on there that is preventing them from getting the credit they need.
Most people do not think disputing your credit report is worth it because the credit reporting companies won't listen anyways. If there is something wrong on your credit report then disputing your credit report is not only extremely important but also very easy and effective to do. Federal credit reporting laws force credit reporting companies to investigate anything you are disputing on your credit report.
They must report those results to you within a designated time period or else the items you are disputing must be dropped from your credit report. The act of disputing your credit report is something you cannot only easily do but should do. If something does not get taken off after you are done disputing your credit report, then you have the option of adding a descriptive paragraph to that item of your credit report for future creditors to see.
All you need to do is order your credit report from the major credit reporting agencies. If you see something you do not agree with then follow the procedures for disputing your credit report that are clearly outlined in your credit report. Be sure to have your own information ready in case you need to prove your point. There can be a danger in disputing your credit report as too much activity on your credit report will damage your credit rating, but an annual review and disputing of your credit report is not only advisable but a good idea as well.
What if They Won't Change it?
If you have absolute proof that the credit reporting agency is wrong then they do have procedures you can follow if you do not agree with their dispute findings. Follow those procedures and if you still do not feel satisfied then you may want to consult an attorney. If your incorrect credit report is preventing you from getting a better interest rate on a mortgage, thereby saving you thousands of dollars. Then, it may be worth legal intervention to make sure your dispute with the credit reporting agencies is taken seriously and the correct action is taken.
