Q: If I dispute something on my credit report that I feel is not legit will it re-start the time on the debt?
I have a debt that will drop off in another year and I want to dispute it but I don’t want to restart the clock on the debt. Should I dispute it or leave it alone?
A: Disputing a debt with the credit bureaus will not restart the clock on the debt.
Therefore, if you feel the debt is not legitimate, I would encourage you to contact Equifax, Experian and TransUnion to get the debt removed from your credit files.
After you initiate a dispute, the credit bureaus have 30 days to reply to your request. Any information that is outdated, inaccurate or that can’t be verified must be removed, in accordance with the Fair Credit Reporting Act.
The best way to dispute a debt – and to have it quickly removed from your credit reports – is to do an online dispute.
Use these websites to reach the credit reporting agencies and dispute errors:
Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.
Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.
All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.