How to Contest a Bad Mark on My Credit Score
Inaccurate information on your credit report may have a negative impact on your credit score. Your credit score is calculated based on your payment history for loans, credit cards and mortgages. If you fail to pay bills on time, you may be sent to collections. Collection accounts, bankruptcies and public records have the greatest negative impact on your score. These items stay on your report for up to seven years. If you find a derogatory account that is incorrect, you may file a dispute with the credit bureau reporting the inaccuracy.
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Instructions
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Navigate to the dispute section of the credit bureau's website. Each bureau reports separately, and you may have the same account on all three of your credit reports. If this is the case, you must file a separate dispute with each credit bureau. TransUnion, Experian and Equifax all process disputes online, by phone or by mail.
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Use the report number at the top of your credit report to log in to your account. If you obtain a free credit report from annualcreditreport.com, you may link directly to each credit bureau's site through the annualcreditreport.com portal; however, note the report number you receive from the free source. You'll need it later to check on the status of any dispute you submit.
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File your dispute. Online disputes are the easiest to file and do not require additional paperwork. Select the reason for your dispute and click the submit button. Examples of dispute reasons include the account is fully paid, the account does not belong to you or you never paid late on the account. Your dispute may take up to 30 days to process. If you file online, your results are emailed to you when processing is complete.
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Tips & Warnings
When submitting online disputes, you must have a copy of your credit report that is less than 30 days old for each credit bureau you want to file the dispute with.
