Disputing an Error on Your Credit Report

There can be mistakes on your credit reports.  The only way to know if there are mistakes is to get and review your reports regularly—at least once per year.

If you do find a mistake, it’s important to get that error corrected.  Why?  Mistakes could bring your credits scores down.  Mistakes make your credit history look bad.

No one will fix errors on your credit report for you. It’s your responsibility to let both the credit reporting agencies and the information provider (the person, business, or other organization that providing misinformation) know there is an error.  Because of the Fair Credit Reporting Act, they are responsible for correcting inaccurate or incomplete information.

You can dispute an error using online forms on the websites of Equifax, Experian, and TransUnion.  However, many financial counselors and coaches recommend sending a letter certified mail, return receipt requested.  This to ensures you have a paper trail of when the credit reporting agency received your dispute.  Why is this important?  Credit reporting agencies must investigate your dispute within 30 days unless they consider the dispute frivolous.  The credit report agencies must also send the information to the individual, business, or organization that provided the incorrect or incomplete information.  These information providers must investigate your claims and report back to the credit-reporting agency.

The letter you send should including the following information:

• Your complete name and address
• A clear description of each item you are disputing and the reason for the dispute
• A request that the information be corrected or removed

You can also include copies—not originals—of documents that support your claim.  For example:

• A receipt
• A copy of a cancelled check
• Evidence of an electronic funds transfer (EFT) payment

You may also want to include a copy of the credit report with the error(s) highlighted or circled.

Once the investigation is complete, the credit-reporting agency must notify you of the results in writing. They must include a free copy of your credit report with the inaccurate information corrected.  This report does not count as your free annual report.  Once an item is changed or deleted, it can’t be put back in your file unless the information provider can verify the information is correct.

You can request that the credit-reporting agency send notice of the correction to any individual or business that received your report in the past six months. If someone reviewed your credit report for employment purposes, this information can be sent to anyone that considered the information during the past two years.