Using Time Wisely

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Credit Report: Disputing Errors

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Photograph Credit: Microsoft Images

Did you find any errors on your credit report? If not, then great! You can file your report away. But if you found errors, then locate the dispute form, the credit bureau’s website, or the bureau’s phone number.

I prefer to dispute in writing. I include a copy of my report with the problems clearly marked. I also fill out the dispute form entirely. If a section does not apply, then I draw a line through it. If there is not enough room on the dispute form, then I write out any remaining errors noting the specific incorrect information and replacing it with the correct information.

This process is time-consuming. First, I make copies of the report, the dispute form, and any additional documentation. Then I mail the forms to the credit bureau and wait for their investigation results. When the credit bureau has finished processing your disputes, they mail me a revised copy of my credit report. YOU ARE NOT CHARGED FOR THIS REPORT.

Once I receive the revised report, I start again. I review it for errors. If I find additional errors, then I get the dispute form, and write out the errors still reporting on my credit report.

Usually all discrepancies are cleared up after the second dispute submission. The key is to stay organized, follow directions, and be persistent. If I do not get complete reconciliation by the second request, then I would call the credit bureau and speak to a customer service representative.

TIP: Remember that your dispute appeal is time sensitive. You have 90 days from the date of issuance to dispute your information. Yes, 3 months seems like quite a bit of time, but if you procrastinate, you will miss the window to submit your dispute.

I am extremely persistent. I will not allow the credit bureau to continue to report incorrect information. This information may be needed sooner than I anticipate, so I want my information to be reported perfectly! I take great care to protect our identities, and I expect the credit bureaus, responsible for that information, to report it accurately!

Credit Check-up: October 2011

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Photograph Credit: Flickr (Dan Eriksson)

Before continuing with the last file opening in Box 1 of my important documents, I need to do a little maintenance. Having ordered our credit reports this past week, I realized I had not posted a friendly reminder this month.

If you are following my recommended schedule for requesting your credit reports, then it is time to check another report from a credit bureau. You may make your request by phone, mail, or through their web site.

Before ordering your credit report, be sure you have waited at least one year since your last request for that report. If you make a second request within one year, then you will be charged for the second request. With the option for a free report each year, you do not need to pay a service fee for your report.

In using time wisely, I request my husband’s and my credit report every 4 months. By alternating which report is checked, I can keep an eye on any irregularities throughout the year. This month, I requested Paul’s TransUnion report and my Equifax report.

When the reports arrive by mail, I will review them for errors. If a discrepancy is noted, then I will dispute it. If all is correct, then I will replace this report with last year’s record in the first file slot of my Box 1 documents. I will also run a free TransUnion credit score. After comparing this score with last year’s record and noting any changes, I will file this record with the current credit report. The file will then be put away until February 2012.

By using time wisely and keeping my important documents’ file organized and up-to-date, I can easily find items needed within a short block of time. In the event I need to access these records, I will have accurate information at my fingertips. Keep plugging along. Your investment of money, energy, and time in getting these documents organized will save you frustration, headaches, and irritation in the future. Happy Organizing!

Question: How many discrepancies are your finding in your credit reports? Looking for your answer. 🙂

2012: First Credit Report Update

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Photograph Credit: Flickr (Dan Eriksson)

By checking your credit reports, you can verify correct information and current accounts. With identity theft on the rise, taking initiative to check your reports from the three credit bureaus will alert you to any new, unauthorized accounts.

If you are following my recommended schedule for requesting your credit reports, then check the date of your last credit report.

Be sure to wait at least one year from the date of your last report. If you make a second request within one year, you will be charged for the second request. When you ask for your new report after last year’s report date, your new report will be free. 🙂

In using time wisely, I request our reports every 4 months. This month, I requested Paul’s Experian report and my TransUnion report. Though the request options include web site and mail, my preference is by phone. Our reports will arrive by mail on the official letterhead within 2 weeks.

When the reports are in hand, I will do the following:

  • Put file box away until June’s credit check

Running the free credit reports keeps you informed of your active accounts and alerts you to any authorized new accounts. To protect your identity, request your credit reports on a rotating schedule. Happy organizing!

Question: Which credit scores will you request?

Credit Score: Update on Quizzle (Free Experian Report)

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Back on March 13, 2011, I shared this post about Quizzle. In this post, I indicated that you would be charged a fee if you requested your credit report from Quizzle after requesting your free report from AnnualCreditReport.com.

Well, I am not sure if I was wrong initially, or if Quizzle has changed their service. Either way, that post needs this update.

After requesting our reports in February and receiving them, I went to Quizzle to run a free Experian credit score. To get the credit score, Quizzle requested that I update the credit report. A red flag raised in my thought process and stopped me in my tracks. I did not want to be charged, so I did some research. The best information I found was in these two paragraphs on Quizzle:

Quizzle Provides a Totally Free Credit Report & Free Credit Score.

We give you a full and free Experian credit report and a free CE credit score. We foot the bill for these freebies because we believe that you should have access to all the most important information about, well, YOU!

What’s in it for us, you may ask? In addition to some helpful freebies we give you – credit report, credit score, home value estimator, home loan recommendations, budget planner and expert personal finance advice – we’ll also offer some important home, money and credit services to you at a low price. That’s how we make our money. However, any tools, products or services we may offer are 100 percent optional and we’ll never sell your private information.

There’s No Catch. Really & Truly. No Spam, No Unwanted Phone Calls, No Trials or Subscriptions You Don’t Want.

We’re trained to believe that if it sounds too good to be true, it probably is. But that doesn’t mean that everything that’s free has a catch attached to it.

Before my dad signed up for Quizzle, he asked me if he would get a bunch of spam in his email inbox when he registered. It’s a smart question to ask, but for goodness sake, my own father?! Look, I get it. I’m skeptical of “free” too. But I PROMISE we will not spam you. We have a few helpful email alerts we offer — like reminders when you’re eligible for your new free credit report and score (every six months) and when a new home loan program becomes available that may save you money (based on the criteria you set) — but they’re completely optional. You can turn them on or off at anytime.

With this information in writing, I updated the credit report and was not assessed a fee. Then the credit score ran using the new information from the updated credit report. Because Quizzle is a consumer-requested pull on your credit report, your score will not decrease nor will other entities see this inquiry. The best part, you can check both your Experian credit report and credit score for free every 6 months.

If you dispute any errors with Experian, you can check your credit report and score in 6 months to verify that the changes are permanent. Also, if you have any changes after requesting your Experian credit report from AnnualCreditReport.com, you can recheck your report and score through Quizzle before next year.

In an effort to keep the information presented on Using Time Wisely correct and timely, I decided to update this Quizzle information as soon as possible. Having completed the Tax-Favored programs category last week, I chose today before jumping into the prescriptions category. But come next week, I will return to organize our insurance documents. In using time wisely, use this week to catch up. Happy organizing!

Question: Have you used Quizzle to check your credit report or credit score? If not, what is holding you back? 

2012: Second Credit Report Update

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2012 Credit report update

Photograph Credit: Flickr (Dan Eriksson)

Thank you for a great week of What do you think? comments and opinions. I loved Shannon’s tip on air-drying her clothes, and Jen’s comment on trying a no electricity family night.

Thanks for reading Using Time Wisely and participating in the community of saving money, energy, and time.

With the Olympics in full swing, I know you are busy enjoying these special moments with your family. As you celebrate with these athletes, take a few moments to keep up your important documents file by requesting your second credit report of 2012.

If you are following my recommended schedule for requesting your credit reports, then check your previous year’s credit report. Wait at least one year since your last request to acquire your credit report for free.

In using time wisely, I request our reports every 4 (or 5) months. Oops! I got a little sidetracked this summer and requested our reports this past week. I requested Paul’s Equifax report and my Experian report.

Though the credit report request options include web site and mail, my preference is by phone. I already received Paul’s report on official Equifax letterhead, but mine has not arrived yet. When both reports arrive, I will do the following:

1. Review for errors,

2. Challenge discrepancies,

3. Run a free Experian credit score for Tracy,

4. Replace last year’s reports with these accurate reports with score in the first file slot of Box 1 of my important documents, and

5. Put file box away until October’s credit check.

Running the free credit reports keeps you informed of your active accounts and alerts you to any unauthorized new accounts. To protect your identity, request your credit reports on a rotating schedule while using time wisely. Happy requesting while watching your favorite Olympians!

Question: Which Olympic event is a must-see at your home?