Definition
A consumer may dispute or challenge a record contained within a credit report in order to prompt an investigation by the credit bureau.
Analysis
Disputes may be made online while a consumer is accessing their credit report. Most disputes may easily be initiated in just a few seconds by following the online prompts to identify the account as well as the reason for the dispute.
Disputes may also be initiated in writing. Each credit bureau supplies an address for written disputes to be mailed to.
An online dispute of a credit item is usually the first step. Many inaccuracies can be resolved simply using this method.
The credit bureau will mail a copy of the updated credit report (without the credit score) to a consumer once the investigation is complete. It is up to the consumer to review their credit report to ensure that the item has been corrected.
If the item remains or is still inaccurate, most consumers find they must mail a written dispute. The advantage is that consumers may provide accompanying proof to support their claim as well as to provide additional information regarding the request.
Credit repair services tend to follow the same procedure. They frequently dispute every negative item, including those that are accurate. However, they do little more than what most consumers can do on their own for free.
