How do I dispute inaccurate information on my credit report?
There are a few options available to you:
Are you wondering why Advantage Credit is displaying on your report?
Advantage Credit, Inc. is a Reseller of credit data and related services, primarily for the Mortgage Industry. Our clients, which include mortgage companies and other financial institutions, utilize our services for to access credit files on prospective borrowers from the three national credit bureaus: TransUnion, Equifax, and Experian. If you recently applied for a mortgage, a loan or a line of credit, or consented to exploring your loan options, your prospective lender may have ordered your report through Advantage Credit, Inc. If so, this is how Advantage Credit, Inc. would display as an inquiry.
If you do not recognize an inquiry from Advantage Credit, Inc. on your credit report and would like to submit a dispute. Click Here
Once a dispute has been submitted through Advantage Credit, Inc. what are the next steps?
If your dispute is initiated through our dispute portal, you will be notified by email once the dispute has been received. Once the investigation of your dispute is complete, you will be notified of the results by USPS mail.
Those tasked with receiving, processing, investigating, and acting on consumers’ dispute, by law are allotted set, strict timeframes, which combined, may add up to 45 days. This means that you may not see the results of your dispute before those 45 days transpire.
For more information, please refer to the section “Advantage Credit, Inc. will initiate disputes with the repositories on behalf of a borrower, at not charge, in accordance with section 611 of the FCRA at the bottom of this page.
How can I submit a dispute through Advantage Credit, Inc. ?
Will Advantage Credit, Inc. accept a dispute submitted by a Third-Party?
A third-party is someone besides the consumer themselves that has authorization from the consumer, properly documented*, to submit the dispute on their behalf. This includes a legitimate, legal Power of Attorney, documentation of trustee or conservatorship.
- A third-party can submit a request on behalf of a consumer via our online dispute portal [Click Here] with the following required documentation:
- A copy of the consumer’s valid photo ID.
- Proper authorization from the consumer. This may include (but is not limited to) power of attorney, trustees and guardian documentation authorizing you to act on the consumer’s behalf.
*If Advantage Credit is unable to confirm the legitimacy of the authorization, the third-party’s dispute request will be denied. Steps taken to confirm the authenticity of the provided documentation may include but not be limited to contacting the consumer directly.
Advantage Credit, Inc. will initiate disputes with the repositories on behalf of a borrower, at no charge, in accordance with section 611 of the FCRA
- If a dispute is related to an unauthorized inquiry made through Advantage Credit, Inc., an investigation will be initiated with our client within 5 days of the dispute being received and will be completed within 30 days.
- If a dispute is related to a specific credit tradeline and/or other details on a credit report obtained through Advantage Credit, Inc., we will initiate a dispute with the bureaus within 5 days of the dispute being received. The bureaus have 30 days to reinvestigate the dispute item(s). If within the 30-day time frame additional information/documentation is received from the borrower regarding the dispute, this period may be extended an additional 15 days. There may be some disputes that the repositories deem ineligible for an online dispute, in which Advantage Credit, Inc. will have to mail the dispute. In this case, the 30-day time frame will begin from the time the repositories have received the mailed dispute.
Note:Advantage Credit may submit disputes on behalf of the consumer only if a client has accessed a credit report through Advantage Credit. The repositories will notify Advantage Credit Inc. of the results of tradeline disputes within the allowed time frame. Advantage Credit Inc. will send the results to the consumer via USPS mail. These results cannot be forwarded electronically.
FAQs
Are you wondering why Advantage Credit is displaying on your report? Advantage Credit, Inc. is a Reseller of credit data and related services, primarily for the Mortgage Industry.
What should I say to dispute on my credit report? ›
You can submit a dispute to the credit reporting company by phone, by mail, or online. Explain the error and what you want changed. Clearly identify each mistake separately, state the facts, explain why you are disputing the information, and request that it be removed or corrected.
How do I remove consumer disputes from my credit report? ›
Call the phone number on the report. The file number or report ID will get you to a human so they can pull up the account in dispute. Tell them you no longer dispute the account and agree with the balance and prior paying history, furthermore need the dispute wording removed as it is preventing mortgage loan approval.
Are credit disputes worth it? ›
You should also check all your credit reports for accuracy, and �ile disputes with each bureau separately to ensure the information is updated everywhere. Additionally, credit disputes are completely free through each bureau, so it is more than worth it to �ile one if you �ind inaccuracies on your credit report.
What is an advantage of consumer credit? ›
Consumer credit allows consumers to get an advance on income to buy products and services. In an emergency, such as a car breakdown, consumer credit can help you get the funds you need. Credit cards are a commonly accepted form of payment, so using this type of revolving credit can be convenient.
Who owns Advantage Credit? ›
President. Don Unger is the founder and CEO of Advantage Credit. Don started the company in December of 1993 out of a garage with a friend.
What is the 609 loophole? ›
2) What is the 609 loophole? The “609 loophole” is a misconception. Section 609 of the Fair Credit Reporting Act (FCRA) allows consumers to request their credit file information. It does not guarantee the removal of negative items but requires credit bureaus to verify the accuracy of disputed information.
What is the best option to choose when disputing credit report? ›
The three most common ways to dispute information on your credit report are online, by mail or by phone. There isn't necessarily an advantage to one method over another, but filing disputes online may be the fastest and most convenient method.
What is the best reason to put when disputing a collection? ›
You should dispute a debt if you believe you don't owe it or the information and amount is incorrect. While you can submit your dispute at any time, sending it in writing within 30 days of receiving a validation notice, which can be your initial communication with the debt collector.
What happens if you lose a credit dispute? ›
Losing a dispute does not necessarily hurt your credit, but it may leave it unchanged if the information you were hoping would boost your score is rejected. SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.'s service.
If your dispute is denied, the charge will go back to your credit card. You should receive an explanation from the credit card issuer detailing the reason the dispute was denied.
Does removing disputes affect credit score? ›
Disputing credit report inaccuracies doesn't affect your credit, but some changes made in response to disputes can help your credit scores. The removal of inaccurate late payments, new-credit inquiries or bankruptcies could result in credit score increases.
Will credit score go up after dispute? ›
Disputing a charge on your credit does not directly impact your credit score. However, if your credit report changes due to the dispute, your score may change accordingly. For example, resolving an inaccurate credit utilization error might increase your score.
Do people usually win credit card disputes? ›
You might not always get a fair outcome when you dispute a chargeback, but you can increase your chances of winning by providing the right documents. Per our experience, if you do everything right, you can expect a 65% to 75% success rate.
Is it better to dispute or settle debt? ›
It is always better to pay off your debt in full if possible. While settling an account won't damage your credit as much as not paying at all, a status of "settled" on your credit report is still considered negative.
Is an advantage card a credit card? ›
An AAdvantage® credit card makes your membership even more rewarding. Earn more when you use an AAdvantage® credit card to book travel or make everyday purchases.
How do I use my credit to my advantage? ›
Negotiating better interest rates or transfer offers with current credit cards. If you have existing cards and have excellent credit scores you can ask the creditor for lower interest rates or transfer offers on your existing cards. This is great if you don't want to reduce your scores by opening new credit.
Does a credit supplement affect your credit score? ›
IR supplements don't affect the credit score. However, if you did want to change the score consider doing a Credit Rescore – a streamlined process for verifying and updating a tradeline – instead.
What is the advantage of care credit? ›
CareCredit is a health and wellness credit card offered by General Electric (GE Money). Unlike a typical credit card, CareCredit allows you to pay off your debt on your healthcare procedures and treatments with fixed monthly payments over a set term — from 6 months up to 60 months.
