What to Dispute

When asked, “What should I dispute” – the answer is simple. The Credit reporting agencies and data furnishers have a legal obligation to abide by three important standards. Everything that is on a report MUST BE:

1. Within Date– Every item that is reporting must be within the allowable reporting period (Typically 7 years for accounts and 10 years for judgments and bankruptcies)
2. Verifiable- All data furnishers must have documentation to prove that there is a legal collectable debt
3. 100% Accurate– All items and parts of the items that are reporting on a credit report must be ACCURATE. It is unacceptable and against the law for part of the item to be reporting inaccurately.

With the consistency of inconsistencies in reporting, there is usually justification to challenge/dispute most items. We’ve already discussed how different bureaus often are reporting conflicting information that inconsistency, in and of itself, is justification to dispute an item. The dispute tactics are important to understand, so you are to remain truthful and successful while disputing on behalf of your clients.

On a credit report, the following information is reported for each “tradeline” item and can be disputed:

1. Date Open
2. High Credit limit
3. High Credit
4. Monthly Payment
5. Account Number
6. Type of Account
7. Number of times late
8. Month  and Year Reporting Late
9. Account Status (Rating)
10. Account Liability