Increase Credit Score By Disputing Errors On Your Credit Report
One of the simplest methods to increase credit score is through the removal of inaccurate, adverse information that is contained within your credit report. The first step in this process is to communicate with each one of the three key credit bureaus – TransUnion, Equifax, and Experian – and get copies of your credit report and credit scores. Thoroughly read over the reports and note any mistakes. Communicate with the credit bureaus In writing and request that mistakes be taken off or investigated.
Documentation of Errors – The First Step To Increase Credit Score
This is known as a dispute letter and when it is received, credit bureaus must look into your dispute within thirty days of getting your letter. It is critical that you maintain a copy of your correspondence and it is very important to document the date the written request was sent. You must not be accusatory or rude in the dispute letter – calmly and clearly define the problem and request an investigation to be completed.
Be sure to note that you understand the agency has to research the claim within thirty days and mention that you will definitely follow up on the matter. Just be sure you do follow up with the issues you brought up in your letter – simply because the credit bureau looks into your claim, does not always ensure that your credit report will come out error-free.
A number of credit bureaus now make it possible for you to correct errors on your credit report via the internet – and many have information on their website that specifies exactly how issues must be dealt with to be effectively taken off. It is critical that you follow this information exactly so that the inaccuracies on your credit report are deleted swiftly and your credit score is updated in a timely fashion.
Include a note to your credit report when there is a dispute you can’t resolve. In certain cases, there are valid explanations why you didn’t pay a bill. If a contractor refused to complete a job or did a poor job, you might have refused payment, but the non-payment may still count against you on your credit report. If there are any unusual circumstances surrounding your credit history which could affect your credit score – for instance a case of identity theft – you can request that a note be included with your credit report to explain the issue.
Adding A Note To Your Credit Report Does Not Increase Credit Score
Some creditors will pay attention to this and others won’t, but it is a better option than absolutely nothing. This sort of note will not increase your credit score, but it will affect your credit report. More than that, it leaves a paper trail of the issue that lenders can look at if they choose.
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