How long does it take to dispute a credit report item? If you think something on your report is a mistake, knowing the timeline can help keep your expectations realistic. Here’s what to know.
Did you know that you can dispute items on your credit report and that doing so can significantly raise your credit score? Many people wonder how long such a process takes. See our answer below.
How Long Does It Take to Dispute a Credit Report Item?
Under the Fair Credit Reporting Act (FCRA), reporting agencies have 30 days to review and remove any disputed items that are inaccurate. Once you dispute an item, you will receive a decision within that range of time.
But how long does it take to dispute a credit report item from the moment you notice an incorrect item? The answer to that question depends on how much time it takes you to gather the information and send a dispute.
Here are four steps you can take to get a faster decision.
4 Steps You Can Take to Dispute an Item on Your Credit Report
Get the Latest Version of Your Credit Report
The first step you need to take is to get your latest credit report from all of the reporting agencies. You can do this online for free once a year. After you have copies of your report, take some time to review them and note any items that seem suspicious.
Compile a List of Any Inaccuracies and Supporting Evidence
Next, you need to compile a list of any inaccuracies that you notice and gather evidence. Evidence may include current account balances, dates of payments, and other relevant information.
Here are some of the items you may need to dispute:
- Items that do not belong to you.
- Payments reported as late that were paid on time.
- Items that should have aged off of your report.
- Fraudulent activity on your accounts.
It is important to check all of your reports because inaccurate items may be on one and not the others. Once you know what you need to dispute you will be able to gather the relevant supporting evidence.
Compose and Submit a Credit Challenge Letter
A credit challenge letter is a written request to a credit reporting agency that asks for an investigation into one or more inaccurate items. Be sure to include a description of the items to be disputed and state why you believe it is incorrect, then ask for the item to be removed or corrected.
Wait for the Results and Resubmit If Necessary
Once you submit your dispute, you will need to wait for a decision from the agencies. If your request is denied, you can resubmit a dispute if you still think there is an error.
How long does it take to dispute a credit report when you work with a credit repair agency?
Not quite ready to deal with an inaccurate or fraudulent item on your credit report by yourself? You don’t have to do it alone! At U.S. Credit Defense, we will do the heavy lifting for you. All you have to do is send us your credit report and the items you would like to dispute and we will take care of the rest.
Get in touch with us today to learn more.