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The word dispute means – to argue about
and or to question the truth.
To relate this to credit, then credit
dispute means to argue about something about your
credit, and to question about your credit. To argue and
or to question about your credit means that there is
something wrong or a part in your credit that needs to
be explained about and someone is responsible for that.
Areas wherein credit disputes may take place are in
credit reports, in credit card billing statements, in
loan billing statements and other credit statements and
reports.
In general, mistakes and discrepancies happen. In credit
reports, almost all discrepancies maybe incurred.
Misrepresentations, wrong dates wrong amounts,
wrong information about the credit are
the usual items that need to be corrected.
In credit card billing statements, the
usual mistake would be double entry of purchase,
erroneous posting of purchases and payments are the
common ground in credit disputes. |
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| Discrepancies in these reports
happen due to system errors, sudden block-out of
operations, defective machines, incorrect encoding and
other common mistakes that may not be figured out by
those responsible to check on them
That is why people should be vigilant in checking their
reports. This is really the foremost thing to do; people
should be concerned with their credit reports, credit
card statements and other billings. Every report should
be well checked for discrepancies because it may affect
their credit negatively.
If there are discrepancies on their reports, immediately
talk to someone who can help. It depends upon the
situation. If the discrepancy is on their credit report,
it’s best to write a letter to alert the credit bureau
that is responsible with the mistake. It is important to
keep a copy for future needs or verification.
In cases where the credit dispute has to be arranged
within a bank, like for credit card statements, the best
option is to call the credit card issuer and relay what
happened in the billing statement. Its best to write
down first the discrepancy or highlight it in your
billing statement to have a focus when talking with the
customer service.
Anyone who has a credit dispute against any billing
statements may also visit the nearest branch of his/her
credit card issuer for assistance in correcting the
mistake.
A credit card billing statement usually has a deadline
for accepting files of discrepancies. Remember it is the
person’s will and right to check his statements,
otherwise any credit dispute will not be entertained
after the allowable time.
Also, credit bureaus, credit card issuers and encoders,
should check their works to avoid such discrepancies
hence also avoid credit disputes. Credit disputes bring
inconvenience to the clients and therefore will lessen
their trust on their supplier, credit provider and
credit bureau. In conclusion credit disputes puts
negative impact both on clients and suppliers. |
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