Dispute your credit record with one of the 3 major credit bureaus is something almost everyone has done at one point or another.
There are strict laws which govern the credit reporting practices along with the accuracy of the information reported.
An uncorrected Experian dispute can lead to credit denial and cost thousands in additional interest payments if credit is extended.
These records are used by lenders and major institutions to decide whether or not to extend credit to a borrower. They are meant to offer a snapshot of the risk involved with a specific borrower. However, an unresolved Experian Dispute can do irreparable harm and even prevent job offers from being extended.
Here’s how to properly deal with an Experian dispute.
Identify and Record In Credit Dispute
The first thing you want to do is to clearly and accurately identify all incorrect information in your Experian dispute and request that it be corrected. It’s important to describe exactly which information is incorrect and why it is incorrect. Then you’ll want to notify the proper parties.
Put your Experian dispute in writing and save a copy of the dispute for your own records. Send a copy of your Experian dispute to the credit reporting agencies, first. While it may also help to notify the creditor, it isn’t required by law. The Fair Credit Reporting Act (FCRA) gives the credit bureaus 30 days to resolve disputed information on a consumer credit report.
After the 30 Days
If your Experian is not resolved or corrected within the accepted time frame, you may want to contact an attorney who is experienced in dealing with consumer credit reporting agencies. Keep all pertinent information regarding the incorrect information and the Experian dispute you opened. It may help your attorney resolve your case.
You’ll also want to write down anyone you may have spoken to and keep any written correspondence related to your credit dispute, whether it came from the creditor or the credit reporting agency. If you have records of a debt being paid, that may be helpful, too.
What kind of information can be disputed?
An Experian can include information on erroneous accounts, incorrect loan or payment amounts, and even a failure to report all payments made on an account. If your credit report contains incorrect information, it can have devastating effects. You may not be extended credit to purchase a home or automobile, landlords may not want to rent to you, and you may even be denied job offers. If you are extended credit, it is likely to cost you thousands more in interest payments.
Contact an Experian Dispute Attorney Today
If you have taken these steps and your Experian dispute did not resolve your issues, partner with an Experian dispute attorney today. A skilled attorney with experience in dealing with consumer credit reporting agencies can likely help you resolve your Experian dispute. The laws governing these practices are strict and offer the consumer avenues of protection. You don’t have to live with erroneous information on your credit report. Partner with an exceptional Experian attorney who can help you resolve your credit reporting issues today.