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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 Cards: Copies of Active Accounts

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In working through an organizational system for our important documents, we are still concentrating on the first section of Box 1 titled Credit Reports/Card Documents. As a review, here are the documents housed in my first box and links to the posts addressed to date:

BOX 1 of 3

  • Credit reports and credit cards

Credit reports:

Credit Report: Reporting Agencies

Credit Report: Schedule

Credit Score: Free Experian

Credit Score: Free TransUnion

Credit Report: Reviewing Information

Credit Report: Disputing Errors

Credit cards

  • Personal records
  • Home ownership
  • Vehicles

Photograph Credit: Microsoft Images

If you are following the same system I am sharing, then the first folder in your accordion file should obtain your accurate credit report(s) and credit score(s). Are you are still disputing errors on your credit report(s)? If so, then good for you! Keep those credit bureaus accountable for reporting your information accurately.

Having concluded last week the first part of this section dealing with the credit reports and scores, I will address credit cards, which is the second part of the Credit Report/Card Documents section. The second folder of my accordion file houses copies of my active credit cards.

TIP: These are just credit cards. Our debit card information is housed under Investments in Box 3.

For each credit card, I have the following documents:

1.       Copy of the front and signed back of the card. Hopefully this never happens, but in the event that my purse is stolen, I will have the phone number to contact the issuer to report the theft. The phone number to contact is on the fine print located on the back of the card. When I make the copy, I make sure the print is readable in case I need the information.

2.       PIN information. If a Personal Identification Number (PIN) was issued with this card, then I keep that number with the copy of the credit card.

3.       Credit Card Agreement. This document usually arrives with your credit card. When a new card is sent to replace an expiring card, a new card agreement is usually sent. If you have misplaced your original, you could contact the issuer and request a new one, or wait until a replacement card is sent before your current card expires.

4.       Website Address,  User names, and Passwords. Having the website address to access this card information written down will be very handy in the event you become incapacitated or pass away. If your Executor knows about your Important Document file, then he/she can access your accounts with this information. If you do not want this information all in one place, then choose a good hiding place. When you have a designated place, write down your user names and passwords and then let someone know where that information can be found. This one action can save your loved ones oodles of time and ounces of worry. Remember to update your list when you change your passwords or add accounts.

PROTECTIVE PASSWORDS: To help protect our accounts, I have placed a protective password on each account. I have called each account issuer and asked to put this password on our account. I then followed their guidelines. Now when I contact them regarding my account, the representative will ask for my protective password in addition to the other personal information they request. Having this password also allows me to bypass giving out our Social Security Numbers for identification. I prefer the protective password since I can customize the word or phrase making it difficult for someone to  commit identity theft.

5.       Contact name. If you have called for any reason and had a great customer service from a senior representative, then I write down and keep the name and direct phone number or e-mail of that representative with the credit card information. If I have a problem and need assistance, I will have direct access to someone who I know will help.

6.       Credit Card. Since we do not carry all our credit cards with us, we keep the unused ones in our credit card file. If we need to use it to make a purchase, then we get the card from the file. This action helps us make wise decisions with our money.

I paperclip these items together for each credit card we hold. I then place all these documents in the second file of my Box 1 documents. Next week, I will share the contents of the third file which is the last compartment under the first section titled Credit Reports and Credit Card Documents.

Are you finding this information helpful? Do you already have protective passwords on your accounts? Do you have them written down for your loved ones and/or Executor? If not, please write them down. Your family will be so thankful you did!

Personal: Birth Certificates

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As we move on from the Credit Report/Card Document file, I hope your task gets a bit easier. The second category in my file is Important Personal Documents. I will share what I have in this file.

Here is the checklist from the Protection Portfolio system by Suze Orman:

  • Birth Certificates
  • Adoption Certificates*
  • Driver’s Licenses
  • Passports
  • Citizenship Paperwork / Green Card*
  • Military Service Records*
  • Marriage Certificate
  • Agreements: Cohabitation, prenuptial, postnuptial, etc.*
  • Domestic partner registration*
  • Support: Child and Spousal*
  • Divorce Decree*
  • Death certificates*

Items with an (*) are additional records Suze Orman suggests for this category that I do not have in my file.

Some of these personal documents are needed to verify your identity. I am extremely careful to keep the information on these documents very confidential. In the wrong hands, you could be the victim of identity theft. Please be careful with these items.

The first set of documents in my file is birth certificates for each member of our family. When asked for your birth certificate, you will need to produce a record from the Office of Vital Statistics. We found this out the hard way.

Photograph Credit: Microsoft Images

When Paul and I moved back to South Carolina, we went to the DMV to get new Driver’s Licenses. After producing my personal records, I was sent to the next window. Paul presented his personal documents, and his birth record was not accepted. He had a certificate of birth from the hospital with the doctor’s signature. The DMV would not accept the certificate. We had to purchase a birth certificate from the Office of Vital Statistics in the state of his birth.

Once that document was obtained, then he was able to present the proper documentation to get his Driver’s License.  The amazing part of the story is that a document ordered over the Internet by anyone was more authentic to the DMV than a certificate signed by the delivering doctor at the birth.

For more information about birth certificates, you can read this explanation from Wikipedia.

TYPES OF BIRTH CERTIFICATES

The two types of certificates are the Long and Short.

LONG: The long version includes parents’ names as well as the other pertinent information. It is also a larger certificate than the short version. The long version is now required for passport verification.

SHORT: The short version is a little larger than a credit card. It can be easily transported if necessary. I use the short version when I take a lap child on a flight. The airlines require proof of age for the child, and the short version of the birth certificate suffices.

OBTAINING YOUR BIRTH CERTIFCIATE

If you only have a certificate of birth or cannot find your birth certificate, then you can order one or more for a fee. To order your birth certificate, you can:

1.       Use a search engine (Google, Swag Bucks, Yahoo!, etc.) and search for: “(your state of birth) Office of Vital Statistics.” If you were born in South Carolina, then search “South Carolina Office of Vital Statistics.”

2.       Follow the prompts to place your order. Each state has a different application and fee process.

Having recently obtained my youngest daughter’s birth certificate, I ordered 4 long certificates and 4 short certificates. The first long certificate cost $12, and the 3 additional were $3 each. The first short certificate cost $12, and then $3 for the 3 additional short ones. I paid $42 for all 8 birth certificates.

I order multiple copies since the first copy includes a research fee. To save money later, I just order a few extra copies for the additional fee of $3. If I have to reorder, then I have to pay the research fee again. I would recommend having a minimum of 2 copies of the Long version, but I do order more for safe keeping.

After obtaining birth certificates from the Vital Statistic Offices in the states in which we were born, I paperclip them by individual, then use a huge paperclip to hold all our birth certificates together. I then place them in the fourth compartment of my file box under the heading of Important Personal Documents.

Do you have a copy of your birth certificate, or do you have a certificate of birth? Prior to our experience at the DMV, I did not realize there was difference. I trust you are better informed than we were regarding birth certificates. Happy organizing! Keep working. You are using your time wisely in getting these document files complete and organized. See you next week on a discussion of Driver’s Licenses. I promise it will be less time-consuming than standing in the DMV line.

Personal: Driver’s Licenses

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Photograph Credit: Microsoft Images

On Sundays, I am sharing how I organize our family’s important documents. A complete overview of my 3-box system can be viewed by clicking on this link. We are organizing Box 1 and have already addressed the first category: Credit Report/Card Documents. We began the second category of Important Personal Documents last week, and continue to add documents to this fourth slot in an accordion file.

After our family birth certificates, I have copies of our driver’s licenses. I made about 5-6 copies of the front and back of each of our licenses. These copies have saved me time when applying for jobs, opening a bank account, and for proof for insurance. I also keep the copies in case we are victims of theft. If I lose my purse or someone steals Paul’s wallet, we will have our license number to report.

I have used a paper clip to hold Paul’s copies together, another clip to hold copies of my license together, and then a final clip to holding all the copies together. Having them organized in this way makes getting to one copy very easy.

Additional items you may place here would be any correspondence from the DMV and renewal notices, payments, and receipts. I keep renewal payment receipts until I receive my new license. Once the new license has been received, I shred the receipt and renewal documents.

The entire pack of photocopies and DMV information is placed in the fourth file slot of my accordion file, ready to be accessed when needed.

See, I kept my promise. This discussion was less frustrating than waiting at the DMV.