Filing a Dispute

Once you’ve filed your dispute, it may take up to 45 days to hear back. If the bureau decides against your claim, you can add a 100-word statement to your credit report in your defense. In a worst-case scenario, with serious inaccuracies, you can hire a lawyer to help you mend your credit history.

Dealing with Fraud

Fraud can be devastating – both to your credit and your life. If you believe you are the victim of fraud, you can set up a fraud alert. When you do, companies will need to verify your identity before using your credit for anything such as loans or mortgages.

Preventative Measures

Freezing your credit essentially protects you from identity theft. If someone tries to open a new line of credit (such as a credit card) with your name, they’ll need to use a PIN or another authentication process. This is a safe option that works for most people.

There may be small fees attached to “thawing” your credit (that is, unfreezing for a specific creditor). These fees range from 0-$10. If you have to open new lines of credit frequently, the fees could add up. They are not a problem for most people and the added security is often worth it.

It is Possible

As daunting as credit problems can seem, there is plenty of help out there. Most creditors are willing to work with you if you’re in a really tight space. Contact the creditor and negotiate a lower payment. After all, lower payments made on time are more valuable to them than the possible bankruptcy that might follow. Just keep looking for answers, and always seek professional help.