March 9, 2010 by Eileen Loveman
There is nothing worse than checking your credit report to find bad credit information listed, except to find the debt listed is incorrect. Bad credit on your credit report affects every aspect of your life, not just financially. Less than average credit will prohibit you from purchasing a home and a mortgage, applying for a car loan, and even influence prospective employers who look at your overall record.
According to legislation enacted by the Fair Credit Reporting Act (FCRA) you do have rights to dispute the debt and file complaints against a creditor if you feel this information is incorrect. You can have it removed from your credit report entirely.
Contacting the creditor directly is one of the sinplest options you have. If you contact them by phone, be sure to have a pen and paper ready to write down any information you receive. Whether it is a live person on the other end or a computer generated respone, make sure you protect yourself.
Their name and position
The date and the amount of time you spent speaking with them – 10 minutes? 35 minutes?
The amount of the debt
For how long do they have you listed as the debtor
If you are talking to a computer line only and not able to connect with a live person, you must make sure you note the date and the time, in case you end up in court. This is evidence for your claim.
You can also go one step farther is the creditor still feels you owe this debt, even if they don’t have the paperwork to back it up. If you feel this debt is wrong, you can write to all three credit bureaus and ask for details of the debt. You provide them with your own paperwork to back up the debt has been paid in full and when. You can also contact a credit correction firm.
Taking care of bad credit listed on your credit report is important and your worth your investment of time and effort. Your financial future depends on your being persistent and not giving up when you become frustrated. Credit bureaus move very slowly.
Learn how I improved my credit score by disputing credit and writing credit dispute letters that work.
