At some point in your life you, or someone you know, will find a mistake on their credit report. Disputing an error isn't all that difficult, but it can be confusing. Thankfully, Five Cent Nickel has an incredibly detailed and simple guide to disputing a credit report error. With tightened credit, new employers checking your credit report and the allure of refinancing at a lower rate, now is the time to make sure your report is error free.

Not only does Five Cent Nickel show you the correct way to get your report, but details how to dispute the mistake with Equifax, TransUnion and Experian. Whether you want to file a dispute online, call the agency or dispute the matter via snail-mail, this guide shows you who to call or mail and how to do it. There's even a sample credit report dispute letter so you can fill in the blanks Mad Lib style, and get on your way to a correct and better credit report.

If you think a credit report error couldn't happen to you, think again. Two years ago I found several errors on my credit report which, no surprise, were pulling my credit score down. Thankfully it was a quick and painless process to dispute them online and I didn't even need to submit additional documentation.

This article is especially useful since my in-laws are attempting to refinance their mortgage and found a Sallie Mae loan erroneously attached to their credit report. After verifying the obvious with Sallie Mae and their bank they were still left with the question of how to fix the problem, since the advice given to them was simply to go online and dispute it. Now they can just fill in the blanks and get their debt to income ratio back to normal.

It can take some time, 4-6 weeks, for errors to be disputed and removed, so you should take the time to make sure your credit report is accurate and start fixing any errors you find right now. You'll be happy you did the next time you get your credit pulled; which could be sooner than you think.

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