Once I accessed my report, I was easily able to navigate the report and if I found any disputes, I was able to with a click or two of my mouse, submit my dispute! Years ago, this would have taken months to accomplish the same thing! I would have had to written a letter, include a letter of credit denial from a lender, or submit a fee if I hadn’t been denied, include a copy of my drivers license and social security card (never liked that bit). Mail it away to the respective bureaus and wait for their replies. Once the reports were received, they were often cryptic and difficult to decipher, even for a professional like me! In all, I think it took me less than 15 minutes to access, review, print a copy for my records, and even dispute a line item in my credit bureau. What is your time worth? You decide. Below is a detailed method of obtaining and disputing items in your credit report .
Your credit report is a record of your credit actvities. It lists all ofyourcredit card accounts and loans, the balances as well as your payment history. It also shows if any action has been taken against you because of unpaid bills such as a lawsuit or bankruptcy filing. Because businesses use this information to evaluate your applications for credit, insurance and employment, it’s important that the information in your report is complete and accurate, especially if you plan to make a big purchase like a home.
The Fair Credit Reporting Act (FCRA),enforced by the Federal Trade Commission (FTC), is designed to promote accuracy and ensure the privacy of the information used in consumer reports. Under the FCRA, both the credit reporting agency (CRA) and the organization that provided the information to the CRA (usually the credit card company) must correct any errors or incomplete information in your report.