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How To Dispute Bad Marks on Your Credit Report

There comes a time in almost everyone's life when it is necessary to dispute a bad mark on a credit report. Whether it had been made in honest mistake or due to serious circumstance, bad marks happen at one time or another in almost everyone's life and it is only too important to make sure these things are cleared up. This short guide will explain how to dispute these short marks.

But first, prior to saying how, first note the reasons why you can't take a bad mark lightly. In today's society, credit is about as important as anything. Having a good credit score can mean the difference in tens of thousands of dollars in savings on various loans the opportunity to receive better offers on credit. A bad credit score can, essentially, lead to thousands in losses due to interest and not even being able to obtain the home, car, or other loan/credit you were looking to get. Obviously, it is important to make sure your credit score is accurate.

When disputing a credit score from a credit bureau, first you must identify what aspects you want to dispute. If you notice there is a mark from a specific institution you know of, such as your bank putting a bad mark for something you are not aware of, first contact them and seek to find out what is going on and possibly remedy this. Also, under the Fair Credit Reporting Act, you also have the right to dispute your score with the credit bureau itself.

Firstly, send a letter to the credit bureau and have it sent certified with return service requested. The credit bureau has 30 days to investigate the creditor with whom the dispute is with and to report to you of the findings and possibly update your credit score. If this isn't done, you can send a demand letter to have the score removed since the 30 days passed. If they still don't respond, you can seek legal advice.

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Either way, law states that you have a right to know why you have a negative credit mark and gives you the ability to dispute it. Take advantage of this to the fullest. Don't settle with a bad credit mark when it shouldn't be there, it can damage your credit permanently and this is never good.

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