So, you’ve disputed an item on one of your credit reports, and you’ve gotten а response.Now what?Well, first of all, it’s important to understand the terminology you might find in the results of your credit report dispute.Each credit reporting company can use their own phrases, and here are some terms to look out for:
- The credit reporting company deleted the disputed information. You might see the terms “information deleted,” “deleted,” or “processed” in your credit report dispute results.
- The credit reporting company corrected the disputed information. You might see the terms “information updated,” “updated,” or “processed” in your credit report dispute results.
- The credit reporting company said the disputed information is accurate. You might see the terms “verified as accurate” or “remains.”
- The credit reporting company said the disputed information is accurate and updated your report. You might see the terms “verified and updated” or “verified as accurate and updated.”
- The credit reporting agency deemed the dispute “frivolous.” This can happen when a credit reporting company thinks the dispute is identical to a previous dispute, or if there was missing information that would have been necessary to process the dispute. If the dispute is deemed frivolous, the dispute process will not move forward from there.
Once you understand the terminology, you’ll likely want to know what you should do next.If you’re happy with the results of your credit report dispute, then there’s most likely nothing else you need to do.However, if you still think the report has inaccuracies, you have the option of filing a “statement of dispute.”This is a statement that can be put on your credit report that describes the information you’re disputing.You can add a statement of dispute through the credit reporting company showing the error.If your dispute was deemed frivolous, you could re-file the dispute with the proof you weren’t able to include the first time.When all is said and done, it’s important to remember the purpose of disputing your credit report: to correct inaccurate or out-of-date information.The purpose is not to clean up negative items that you wish you have removed…As you can see, filing and managing credit reports can be a hard process.That’s why using the services of a company like Dovly can be highly beneficial.It helps over 1.2 MILLION people understand and improve their credit scores and purchase their dream home, cars or just pay less interest…Sounds interesting?Then join us now!