Delray Beach FL (PRWEB) November 8, 2010
Luckily for consumers, many credit files are in fact an accurate reflection of a person’s financial picture. However, NationalCreditReport.com, a leader in credit report, credit score and credit monitoring services reminds consumers that they can verify the accuracy of information in their credit files by checking credit reports regularly and disputing credit report errors if they find them.
“Even the most diligent consumer can occasionally find an item in their credit file that they feel is inaccurate,” said Samuel S. Ambrose, Vice President of Marketing and Operations for NationalCreditReport.com. “These issues can occur for a number of reasons, but it’s good for consumers to know that if inaccuracies are found when they check their credit report, they are within their rights to dispute credit report errors with the credit repository that reported the information. Correcting any information that is found to be inaccurate can help a consumer fix their credit score, so it is really in their best interest to check their credit report regularly.”
Common inaccuracies found in credit reports can be anything from a person’s identifying information such as their name being confused with someone with a similar one, negative information staying on a credit report after its expiration date, accounts noted as not being in good standing or possible identity theft. Many people don’t recognize these inaccuracies until they check their credit report in an attempt to fix their credit score or are alerted to them by a credit monitoring service.
Simple steps to dispute credit report errors:
- In writing, submit the inaccurate information with clearly stated facts to support it, to the credit repository that reported it as well as the financial institution that it involves. There are many websites with sample letters that can be used as reference.
- Include copies of supporting documentation to back up the claim. Never provide originals.
- Dispute letters should be sent via certified mail or by a service that provides tracking to prove that the dispute letter was sent.
- The credit repository will investigate the issue, usually within 30 days, and also provide the documentation to the creditor or lender that submitted the information to them. They will then investigate and provide a report back to the credit repository.
- Upon completion of the investigation, the credit repository will report back to the consumer with its findings.
As per the Fair Credit Reporting Act (FCRA), inaccurate, incomplete or unverifiable information must be removed or corrected by the three major credit reporting agencies usually within 30 days.
Since 2004, NationalCreditReport.com has specialized in providing credit information and credit monitoring services to consumers to help them understand their credit report and score. NationalCreditReport.com encourages consumers to check their credit report on a regular basis.