What Happens When you File a Credit Report Dispute?

February 28, 2013

Protect from identity theft with credit reportWhen you are diligent about checking your credit report, there is a small chance you may come across an error. Thankfully, it is easy to file a dispute with the credit reporting agency to get your score fixed. But what is the process for that and what can you expect when you file your dispute? The credit report experts at Equifax share what happens in the new article on the Equifax Finance Blog, “

The Facts About Credit Report Accuracy.”

When a consumer disputes a report, the first thing a credit reporting agency does is to ask the source of the charge to verify it. On average, these requests are returning in eight-and-a-half days. Equifax is working on speeding up our process, where we can provide more information to the source so that it is easier to track down, rather than a give-and-take and search for documents to verify.

In 2012, about 60 percent of these investigated disputes were closed when the data supplier verified the information was accurate. In 40 percent of the cases, we made adjustments based on the findings, including modifying or deleting data that did not belong in the consumer’s credit file. Of that 40 percent, in 36 percent, data was modified or deleted as a result of the reinvestigation. The remaining four percent of modifications or deletions were a result of the data furnishers failing to respond in the legally mandated response window of 30 days.

Equifax is happy to share more information about

protection from identity theft and keep your credit report squeaky clean. Just check out Equifax.com for a wealth of information.

Categories: Economy, Education

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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