Your credit score is your lifeline to get ahead financially.
It allows you to get loans, get approved for housing, and gives you a general look at how you handle finances. Unfortunately for many of us, we get introduced to credit cards and credit scores right after high school by predatory lenders. Because of those days and a whole host of possible mishaps, we may have some inconsistencies in our credit reports. But how do we get rid of that? How do we correct things on a widespread financial document? Here’s a quick guide on how you can correct errors on your credit report.
Nobody knows your finance is better than you. Institutions may have their metrics and their summaries, but they don’t know you. They may know the things that you have to pay for, but they don't know why you have to pay for them. Because of this, credit repair software can be a viable option for you. The current state of technology allows people to have that kind of control. By all means, we should take advantage of it. When you set up credit repair software like DisputeBee, there will be a series of inputs that allow for you to either provide reasons or fixes that pertain to a particular incident that may have lowered your credit. The whole point is to be able to see an itemized accounting of your transactions, relative to the credit score that you have. If you have inconsistencies, it can generate a report that you can personally send to credit bureaus.
Another, much longer option, is to directly contact the credit bureaus. If you give them the right information, they might be able to help you. This, of course, falls in line with thousands of other corrections that an entire department has to figure out. More often than not, people call in and say “this doesn’t look right.“ It is really difficult for an individual to pinpoint what exactly brought down a credit score, in a timely manner. So you may report it, but the action is not guaranteed for a while. On average, it’ll take about 30 to 45 days to respond to your dispute. Of course, it can be sooner than that, or later than that. History dictates that it’s usually the latter.
Usually, credit disputes settle before any more weird issues pop up. But in the case that it doesn’t, there may be legal action that can be made. If you have evidence that you informed a credit bureau, filed a dispute, and you have evidence that the law was broken in the process, you can take it up with the courts. This, of course, is the last resort. If you have personal software that can fix your credit, or provide a report that can guide the credit bureaus, taking legal action might not be necessary.
It’s frustrating seeing errors on a credit report, especially if you’ve been really good about keeping up with it. A lot of us had our credit ruined early by lenders looking for college-age kids to give a few hundred dollars credit to. You must do yourself and your financial reputation justice, by actively keeping up with your credit score.