When the time comes, we hope you never run into any credit problems. However, some problems are unavoidable. To help, we're sharing what to do to help resolve them.

How do you resolve a dispute?

If you want to dispute a credit report, bill, or credit denial, it's best to contact the appropriate company in writing. If you're disputing an error in billing, like a charge you didn't make on your credit card you should include:

• Your name
• Account number
• The dollar amount(s) you're disputing
• The reason you believe the bill is wrong

It's important to keep your original documents like:

• Receipts
• Sales slips
• Billing statements

You'll need these documents if you dispute a credit card bill or your credit report. You should send copies of these with your letter, but be sure to save the originals for yourself.

How do you restore credit?

If your credit report is suffering, you can follow these steps to help you get your credit back in good standing:
 

• Contact your creditors and ask them if it's possible to set up a new payment schedule that is more manageable for you. Never ignore your bills.
• Pay your bills on time.
• Stop using credit cards. While credit cards can be an incredibly useful financial tool for some, it can be a nightmare for others. If you fall in the latter category, consider taking your credit cards out of your wallet and storing them in a secure location so that you won't be tempted to overspend and/or make purchases on them.
• Don't apply for loans you don't need or can't qualify for. Credit scoring models look at "inquiries" on your credit report when you apply for credit. Too many inquiries usually signal trouble and can have a negative effect on your credit report.

What do you do if you're in debt?

If you're having trouble paying your bills, you should:

• Examine and reassess your budget. Look at current budget to make sure you aren't overspending in areas. Developing a manageable budget is key to maintaining healthy finances.
• Consider speaking to a certified credit counselor or financial fitness coach. Since everyone's financial situation is unique, speaking to an expert can help you determine the best course of action for you. A credit counselor or financial fitness coach can help advise you on the best way to pay down your debt and help you create a budget that's right for you. It's important that you don't confuse legitimate credit counseling with oily "credit repair" companies.
• Stop buying on credit. Until you have your spending under control, it's best that you don't use any credit card. Once your debt is paid off and you've created a manageable budget for yourself, you can consider using credit again. It's important that you remember to record any charges you make and stick to your budget so you don't find yourself in debt again.

What should you do if a mistake was made on your report?

Everyone makes mistakes, so if you believe that a mistake was made on your credit report, you should send a certified letter to the agency that gave you the negative report. Your letter should:

• Include your name and address.
• Identify the report you're disputing.
• List the facts and explain why you believe an error has been made.
• Request the item(s) in question be either deleted or corrected.

After taking these steps, the following must occur:

• The agency must investigate your dispute.
• If the information disputed is inaccurate, the agency must correct it.
• Disputed information that can't be verified must be removed from your file.
• The agency must provide you with written results when the investigation is done.
• If your dispute can't be resolved, ask the agency to include the statement of your dispute in future reports.
• If you request, the agency must send notices of any corrections made to anyone who received your credit report in the past six months.