Request a statement of dispute be added to the credit file.
You can also request that a copy of the 100-word statement detailing your side of the story be included in your credit file and distributed to recent recipients of your credit report. Expect to pay a nominal fee for this service.
Improve your credit profile
Take control of your future credit health by:
- Making timely payments and getting current on all your delinquent accounts. (If money’s tight, reach out to your creditors to inquire about payment arrangements).
- Accelerating your debt repayment efforts and minimizing expenses to stay out of debt.
- Maintaining a healthy balance of installment and revolving accounts.
- Only applying for new credit as needed.
- Also, enroll in a free credit monitoring service to keep tabs on your credit profile.
Understand reporting timelines
Monitor your credit report to ensure negative items are no longer reflected once the reporting period lapses. The reporting guidelines are as follows:
- Late payments, collection accounts and public records (7 years)
- Bankruptcies (10 years)
- Unpaid tax liens (indefinitely)
As a last resort, you can solicit the assistance of a non-profit credit counseling agency. Look for companies that offer practical, legal solutions to help rebuild your credit and establish a solid financial plan to solve money woes for a minimal fee. Also, check their ratings with the Better Business Bureau and scour the web for consumer reviews.
Ever had a dispute rejected? What steps did you take to move forward?