Opening up a credit dispute can often be one of the only ways that you can get a negative charge off of your credit report. If you’re looking at results from your credit report and you’re wondering how you can adjust the outcomes of a dispute and if it’s even worth opening up a dispute, keep in mind that disputes can go a number of ways when you open them up.
Disputes are often marked as deleted if they’re removed from your credit report. They can also be marked as processed if the item is deleted or updated from your credit report, or it can be marked as remains if the information has been marked as accurate.
Filing for a dispute will have no impact on your credit score whatsoever and you have nothing to lose by filing for a dispute especially if it gets processed. Once the dispute is processed, you could see an impact on your credit report for the future. Late payments will have a negative impact on your score and if a late payment was reported mistakenly and you have information that can disprove the late payment, this can remove the negative item from your credit report and help you to very quickly improve your credit score for the future.
The information from a dispute that occurs from a late payment can stay on your credit report for up to seven years. If you’re successful in removing a dispute from your credit report, you can make sure that you save your credit score for up to 7 years since the dispute was raised.
Regular credit reporting is important to catch errors and disputes as they occur. If you notice a discrepancy with your credit report, be sure to work on the dispute process as soon as possible to prevent it from affecting your future.
This post was written by Kristian D’An, owner of Lux Credit LLC and CCA board certified credit repair specialist. Lux Credit offers credit repair services for those looking to improve their credit!