Every applicant for a KC home loan should know the three basic steps to building good credit:
However, many people do not know which steps to take to dispute credit report errors. This process may seem tedious, but is relatively straight-forward. Most importantly, disputing credit report errors can be essential in helping you obtain a KC home loan.
Getting a KC home loan is already an expensive process; take advantage of all the free help you can get! Every person has access to one free copy of their credit report from the three credit bureaus:
Don’t exhaust these resources all at once as you may need another copy in the future. If one company investigates and approves your dispute, they are required to notify the other bureaus.
Mistakes do happen, but you may need proof to convince credit bureaus there has been an error on your credit report. For instance, if you have remedied a delinquent account and that information has not been noted on your credit report, you will need to obtain proof from the debt collector to dispute that error.
While disputing a credit error online is quick and convenient, it is more likely to be declined than a hard copy of a letter. Online disputes will not allow you to send the proof you have gathered for your case. However, sending your credit report dispute by mail enables you to send that documentation. If you choose to mail your dispute, be sure to:
Credit bureaus are required by law to investigate your claim within 30 days of receiving it. If at the end of this period you have not heard back from the bureau, contact them immediately. They are required to report the results of their investigation back to you and provide an additional free copy of your report if it has been changed.
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