Clearing off your credit can be a quite tiresome and toll-taking, especially if you don't plan and budget it properly.
Complications can arise when there is a mismatch between the payments you have made and the amount stated in your credit statement.
These situations are no difficult to handle if you know exactly what to do.
Your rights and interest are protected by the law, but you have to be ever vigilant and alert about taking proper care of any credit discrepancies as and when they occur.
One option that you can avail of, is taking the help of credit agencies.
You should ideally order a credit report periodically.
Once you get it go, over it minutely and check for any discrepancies.
Problems if any should be methodically noted in a Credit Dispute Log.
Thereafter you need to contact the company or organization concerned, by telephone.
One thing to keep in mind is that it is imperative that you contact the original debtor and not just the collector.
You should log this call with an outline summary of agreements made, if any.
Take down the name of the executive or contact representative that you speak to.
Once this is done you need to follow up with the company with a certified letter.
You would also need to contact the collector, file a disputation on the bill and send a documentation of the payment that you have made, to the original company.
At the credit bureau fill out the dispute form.
For every dispute item that you need to challenge write an individual letter to the credit bureau.
Always use certified mail to send in these letters.
Make sure that you attach photocopies of related documentation supporting your claim.
But you can't just file a case and forget about it.
You need to make regular calls to the bureau to trace the progress of your complaint.
It is advisable to keep your reference number handy at all times.
Remember to keep a record of your case and its progress in your credit file.
Credit reports are a reflection of our financial position and determine our credit viability.
One small slip and you might land up in a soup.
It's crucial to be up-to-date on all your credit developments.
One financial mistake and your credit standing can be ruined for ever.
The bright side of it is if you are well aware of your position then you can easily evade this kind of a situation.
You can take the help of a financial a financial expert or you can personally keep a record of the credit you owe to different lenders or companies.
Credit discrepancies are not an unheard of thing and it's foolish to think that it can not happen to you or that it is nothing significant.
Take precautions and be vigilant to avoid unnecessary complications in the future.
Doing all these things will help you get out of any disputing credit discrepancies involving your credit.