Tips on Disputing Your Credit Report for the Not-So-Credit Savvy
Contributed by Lisa Marie
Tips on Disputing Your Credit Report for the Not-So-Credit Savvy
Disputing your credit report is much easier than you think. The laws, believe it or not, are in your favor. You just need to know what to do!
Disputing your credit report should be done BEFORE you apply for credit
Picture this: you head into the bank to apply for a loan to get that new car that you've been dreaming about for years. You are absolutely positive that you will be able to get the loan because you've paid all of your bills on time, and you've had a steady job for two years, and you've just gotten that big promotion! You're treating yourself to that SUV with a six speaker Bose audio system and heated leather seats. So what could go wrong?
After filling out paper work in their office for an hour, the wonderful loan officer at the bank pulls your credit. On your report they notice that you've had a bank foreclosure on your home in 1992, and you're six months behind on your boat payment. You know these are errors, as you were born in 1983 (thus making it impossible to have a mortgage in your name when you were only eleven years old), and you have an acute phobia of water. So why on earth would you have a boat?
The bank, although they might believe you, cannot extend to you an offer of credit because of the errors on your credit report. So now what are you supposed to do. Well, you'll have to dispute your credit report, that's what!
