By law, you have the right to a fair and accurate credit report, but what does that really mean? According to experts on the subject, a fair and accurate credit report is a report that doesn’t have any inconsistencies, half-truths, or flat-out lies on it. As you might already know, you can dispute a credit report error and have it removed. You might not fully be aware of what constitutes as a disputable behavior.
- You can always dispute totally erroneous charges. For example, if you see that you have been wrongfully noted as having been evicted from an apartment even though you have lived in your own home for 10 years, you can dispute it. Something that is out-and-out wrong will always be disputable.
- If a charge just doesn’t seem completely right, then you have a right to dispute it as well. A charge cannot have any error in it, even if it’s a small detail. A good example of this would be if you were delinquent six months on a report, when you really were delinquent seven. You can dispute it, and have the entire mark removed.
- If you feel it looks right, but want to make sure that it is, you can dispute it. You have the right to have your report double-checked, even if it seems like it’s all perfectly fine. It’s better to be safe than sorry, and the local laws allow for this to happen. After all, it’s always better to be safe than sorry.
- You have the right to dispute and remove a fraudulent charge. If you were the victim of identity theft or credit card theft, then by all means, you have the right to live a life without having to be punished for someone else’s wrongdoing. This includes having an accurate credit report that doesn’t involve all the things that the thief did under your guise.
- Should you notice that you have a negative mark that is over 7 years old, you have a right to dispute that information as well. The vast majority of bad marks on a credit score that are over 7 years old will be considered to be obsolete for credit reporting purposes. If you see something that’s old as dirt on your record, dispute it and ask for it to be removed. You’ve matured since then, and you have a right to a credit report that reflects that.
The bottom line is that you have the total right to dispute your credit marks as frequently as possible, for any reason you deem fit. It’s your right, and you might as well exercise it. You might find out that there are more errors on your report than you initially though. After all, almost 70% of all credit reports have at least one error – and the chances of you having more than one skyrocket if you are younger.