Your credit reports contain information that potential creditors use to determine your creditworthiness. In a perfect world, your credit report would always contain information that’s 100 percent accurate, but unfortunately, that’s not always the case.The only way you’ll know if there are any errors is to periodically review your credit report. Your credit report should contain information about accounts you have authorized, and the payment history needs to be accurate. Errors can hurt your credit score, so if you find any errors, it’s important to dispute them. Dovly locates negative marks on your credit report and works to resolve them with the credit bureaus automatically. Our proprietary algorithm determines how to sequence and manage the disputes in a way that will get you the best results. The system communicates electronically with all three bureaus, who in turn communicate with credit data “furnishers” to correct errors. Furnishers include banks, lenders, credit card issuers, and collection agencies – essentially anyone that reports information to the bureaus. This process can take about 30-45 days per dispute.
What Can Be Disputed on a Credit Report
Errors or inaccuracies on your credit report should be disputed with the credit bureau. The types of errors you’re looking for include:
Is There Anything You Can’t Dispute?
Anything you find on your credit report that’s inaccurate should be disputed. The more proof of the error you can provide, the better the chance of the item being corrected. You aren’t allowed to repeatedly dispute the same item. Identical disputes that have already been processed don’t have to be re-processed and may be considered frivolous. If the creditor refuses to correct the error, you can add a statement of dispute to your credit report explaining why you think the item is inaccurate. Potential creditors have access to this information and take it into consideration when processing an application.
Improving Your Credit Reports
If the process of reviewing your credit reports and disputing inaccuracies sounds overwhelming or confusing, get in touch with Dovly. We can help you review what’s on your credit report and guide you through the process of improving your credit. 92% of Dovly customers see results in 6 months or less, many in just 30 days. It all depends on your situation, and every case is slightly different. Find out more about what we can do for you today.