Elements of Healthy Credit: Accuracy

Building and maintaining a healthy credit profile requires an accurate credit profile. Unfortunately, one in four consumers deal with material errors on their credit report, but yet less than 20% of consumers actually take action to resolve them. 

If you are dealing with inaccuracies on your credit profile, you have the right to fix or resolve them directly with the credit bureaus. Per the Fair Credit Reporting Act, you have the right to dispute any accounts that may be inaccurate, unverifiable, misleading, or outdated. 

You can dispute accounts multiple ways. 

1. Process a dispute online via annualcreditreport.com. This process is simple, but be prepared to potentially re-dispute the account. The online dispute process goes through a different process of investigation than traditional forms of disputing.

2. Send in a written letter. When disputing with the credit bureaus via a written request, be sure to check the requirements to confirm your identity. This usually requires a proof of identification, proof of social security number, and proof of address. You can expect to receive results within 30-45 days from when the dispute is sent. (tip: send in any supporting documentation to validate your dispute to ensure a proper investigation into the account)

3. Call the credit bureaus: This process is long and difficult, but due to a recent settlement with Eric Schneiderman , the Attorney General from New York, the credit bureaus are required to process a dispute over the phone. Be prepared to send in the supporting identification requirements. 

The time requirement and lack of transparency can make disputing accounts frustrating. If you're looking for more information or would like an advocate to assist you in this process, you can learn more at www.premiercredco.com/why-premier.  


Alex Grimnes