A credit report contains a complete and detailed history about a consumer's spending habits. Creditors use the information in a credit report when deciding to extend credit to a new consumer, which is why it is in a consumer's best interest to check his own credit report. If the consumer finds an error on his credit report he can dispute the information with the credit bureaus. Consumers can file disputes either online or through the mail. Both methods have advantages and disadvantages.
Advantages of Online Disputes
A consumer can dispute her credit report online through the credit bureaus' website. Typically, consumers find disputing their credit reports online easier than disputing them by mail because they do not have to print any documents, use stamps or visit the post office. Online disputes are faster, as they reach the credit bureaus instantly and do not have the wait times associated with traditional mail. Filing a dispute online may also be more convenient, as the consumer can often check on the status of the dispute on the credit bureau's website.
Disadvantages of Online Disputes
When a consumer disputes his credit report by mail, he has the option to formulate a dispute letter and to attach documentation that proves his case. If he disputes the information online, he will not be able to supply any documentation. The credit bureau may have to go back to the consumer and request documentation at a later time, slowing down the dispute process and inconveniencing the consumer. Also, since the consumer used an online form to submit his dispute, he may not have any documentation of his claim, and many consumers prefer to have printed documentation for their records.
Advantages of Mail Disputes
When a consumer files a dispute through the mail, she can keep copies of everything sent to the credit bureaus for her own reference. The consumer can also send the letter certified mail, which will give her proof of when the credit bureaus received her dispute. Mailed disputes also give the consumer more freedom to make her case. Many online dispute forms limit the amount of information a consumer can give with her dispute. Since written dispute letters are free form, the consumer can include any information or documentation she wishes.
Disadvantages of Mail Disputes
Sending a credit report dispute through the mail can be a very time-consuming process. The consumer will need to create her own dispute letter, make copies of her credit report and include other documentation. The consumer will need to invest more time into the process by visiting a post office in person and sending the letter by certified mail. Mail disputes also make it more difficult for the consumer to follow up on her dispute letter. Consumers can only check on the status of the investigation online if they submitted their dispute through the credit bureau's website.
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