Debt Consolidation Credit Counseling In Wisconsin Debt Consolidation Credit Counseling In Wisconsin

Find out more on Debt Consolidation Credit Counseling In Wisconsin Now!

Tuesday, November 18, 2008

Benefits of Disputing Credit Report Errors

By Ricardo Mendiola

Errors on your credit report may be the reason you don't quality for the home you have always wanted. You can have errors removed from your credit. It is important to dispute your credit and be sure that everything on the reports is listed properly.

If you have errors on your credit they can lower your credit score. It can cost you a worse interest rate if you are applying for something and it can be very detrimental to your credit. Some people have the misconception that there is nothing they can do to remove items listed on their credit that they don't really owe. This isn't the case. There is something that you can do about it and you can benefit in many ways.

If you have mistakes on your credit report it is important to have them removed or fixed. There are many different types of mistakes that might appear on a credit report. You might show a collection where you owe more than you really do. An item may be listed that shouldn't be there at all. Your contact information may be inaccurate. Any error listed on your credit can be repaired and you must do something about it.

Disputing items on your credit reports is important for many reasons. The first thing you need to do is get copies of all of your credit reports. This is because some things may be listed on one report that will not be listed on the others. Some credit reporting agencies say that you should dispute everything on your credit. This is because if you do owe a company from years ago and they don't exist anymore the items will be removed. Companies change hands all of the time also and many old debts are non-existent to other businesses. If you are sure you owe the money you should pay the debt.

When you write letters and dispute items on your credit the major credit companies will dispute the claim with the company listed on your report. The business will then have 30 days to provide proof that you do indeed owe the bill. They will have to provide something with your signature on it or proof of agreement that you entered into a contract with them and owe them the listed amount.

Errors on your credit score can disable your financial freedom. It is important to dispute items on your report. You will benefit from disputing items on your credit so they will be removed and your scores will increase. You might be one point to low for a better interest rate that could actually cost you thousands. Always correct errors and dispute incorrect items on your credit. You will see the items disappear from your reports and your scores will increase.

About the Author:

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home