Credit Dispute
This term refers a disagreement about the accuracy of a particular piece of credit related information that a consumer may have in regard to data on a credit report.
A consumer has rights and protections under the law in regard to inaccurate or incomplete information that may or may not be included on a credit report. Because so much of day-to-day life is affected by credit reports, even to employment and whether or not a landlord chooses to rent to a person, these protections are very important. It is essential that consumers make sure they are aware of these rights and protections.
It is equally important that consumers are familiar with current credit status, so the individual is able to detect and act upon any inaccuracies before they negatively effect credit standing. In the event of a credit dispute, the consumer must contact the credit reporting agency in writing with supporting documents. Upon receiving the letter and supporting documentation, the credit reporting agency is bound by law to reinvestigate the matter of dispute.