5 Tips to disputing negative marks on your credit report

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Negative marks on your credit report can have a significant impact on your credit score and the best move is to try as much as possible to get them off.  There are times when the errors on one’s credit report are made by accident but there are other times when the reporting bureau has made a mistake and placed a negative mark on your credit report. It is estimated that 25 percent of American finds errors in their credit report and that’s why careful analysis of your credit report is required to remove this negative marks whether genuine or made by mistake. Here are a few tips which you need to have at hand when looking to disputing the negative marks.

  1.    Collect Facts

You cannot begin the dispute process if you do not have all the fact at hand. When you realise that you have negative marks on your credit report then you must start by collecting fact to determine if they are legit. The first step is usually to request your credit report from the three reporting bureaus. Her you can be able to counter-check to determine the source of the error.  Check the account details and the dates and once you have all the facts then you can begin the disputing process.

  1.    Dispute errors

In the review of your credit report if you find errors then you need to dispute them immediately.  You need to send a dispute letter to the exact credit bureau which is responsible for the error. You need to be very clear on the specific areas which were spotted on your credit report. You must explain the error and provide justification on why it is wrong. If you have supporting documents you can include them.  You can follow up the dispute with the credit repair dispute letters for them to expedite on the investigation.

  1.    Request Goodwill Deletion

This is another tip of disputing the negative marks on your credit report is to ask for goodwill deletion. This can be done through sending of a letter to the credit bureaus and offering a candid explanation of the situation then asking for a removal of the negative marks.

  1.    Contact the report furnisher

It is recommended that you directly raise your dispute with the company or the furnisher that provide the faulty information to the credit bureau. This can be done by writing letters asking them to correct the error in the report or actually going there directly. This will be easier as they will be able to see where they made the mistake in reporting.

  1.    Wait out the reporting time limit

If everything else fails and you are not able to get the negative marks off your credit report then the only solution which remains is to wait for the time limit to pass. The good thing about this is that most negative marks on your credit report will fall off after seven years. Once this is done then you can improve your credit score by making timely payments.


Disclosure: collaborative guest post

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September 4, 2018
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