Fix Credit Report Errors Quickly and Easily

Fix Credit Report Errors Quickly and Easily

Your credit report is important to your financial future. It contains information about where you work, live and how you pay your bills. It may also include information about court cases or bankruptcy. Credit bureaus compile and sell your credit report information to businesses. These businesses will use the information to evaluate your worthiness for credit, insurance, employment and other acts. If your credit report contains errors, you need to repair these so it represents you fairly.

Under the Fair Credit Reporting Act, you as a consumer have a right to dispute any information on your credit report. Errors can include mistakes in work history, address changes and accounts being misrepresented.

Before you can catch errors on your credit report, you’ll need to request a credit report from each of the three credit reporting agencies: Equifax, Experian and TransUnion. Each of these credit reporting agencies keep separate records of your information, so it is likely that they will have contrasting information on your credit history. It is important that you look at all three credit reports and repair errors on them.

Once you identify an error on a credit report, you need to write the credit reporting agency with your dispute. Include copies of documents that support your position, and make sure to provide your complete name and current address. Your letter should clearly identify each item in your report that you dispute. State all of the relevant facts and explain to the credit reporting agency exactly why you dispute the item. You can request deletion or correction of the item.

The credit reporting agency must investigate the item within 30 days. They will forward all of the relevant information to you, and will notify the credit card company or lender involved. If it is verified that the information is incorrect, the credit reporting agency must correct it. If the information is incomplete, the credit reporting agency must complete it. These corrections will improve your credit report, and boost your credit score.