Forget what you heard! Disputing everything on your credit report is an ABSOLUTE no-no! This could be a costly mistake. To start, the only items that you should be disputing are the items that are reporting negatively on your credit report; meaning, inaccurate balance, payment history, open or closing date, incorrect payment status, etc. The FCRA (Fair Credit Reporting Act) not only protects us, the consumer, but creditors as well.
When disputing everything on your credit report, you risk having the credit bureau come back with a claim that you’re making frivolous disputes and flagging your reports. This process is not meant to be a simple one and anyone making it seem as though it is, is setting you up for FAILURE!!! Your credit didn’t get damaged overnight and it won’t look flawless with the snap of a finger either. It takes time, a ton of research, due diligence, money and more importantly, patience to get it to where you want it to be.
Yes, it will cost you money. How so, you ask? Fixing your credit can be costly. To start, you should sign up for a credit monitoring service that will give you all 3 of your credit reports and FICO scores. Depending on which service you choose, it may cost you as little as $1 for a week or two to utilize the service, but after the trial period ends, it can cost you any where from $9.95 – $29.95 per month. But we’re just getting started on the costs. So, now that you have your credit reports, now you should carefully review it for errors and prepare your dispute letters accordingly. Once your letters are prepared, now you have to send them off either Certified or Priority mail, dependent upon the type of disputes you’re sending. So, with that being said, this process, even if you take on the task on your own, will cost you some money. There’s no way around this.
Someone told you that you can dispute online as well? Another ABSOLUTE no-no! Did you know that when you dispute online, you are forfeiting your rights outlined by the FCRA? This is why you should NEVER dispute online. But I digress.
Disputing everything on your credit can also cause a ‘clean sweep’ effect – meaning, everything from your credit can be deleted, even the items that are actually helping your score, as in your credit age history. Aging makes up 15% of your overall credit score. Very important! Remember that!
Another important tip that you should keep in mind is when disputing items on your credit, you may find that the credit bureaus may remove the items that are being deleted from your credit reports, but once the creditor or collectors verify the debt, the items can return. This process can take 30-60 days, but it is your responsibility to hold both the creditors/collectors and credit bureaus accountable and ensure they uphold the laws of the FCRA and FDCPA as it pertains to the dispute process.
Need more information or want guidance on how to go about the proper way of disputing inaccuracies on your credit report? Visit http://www.creditguardians.org or schedule your FREE Credit Consultation at http://www.creditguardians.simplybook.me.
As always, helping you to #RebuildRestoreRevive.
Credit Guardians Consulting 
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