4 Steps to Easily Dispute and Correct Errors on Your Credit Report

What is Your Credit Report?

Your credit report is a summary of your history with credit and contains information sent to credit bureaus by lenders and creditors.   See the guide to learn how you can easily dispute and correct errors on your credit report.

1. Gather all the Relevant Documents

The first step in disputing errors on your credit report is to identify what the errors are and gather documentation that supports your dispute claims. These documents could include: Bank and credit card statements  Bankruptcy discharge Release letters from debt collection agencies.

2. Contact the Credit Bureau

Experian, Equifax, and TransUnion are the major credit bureaus in the United States. If you notice errors on your credit reports from one of these agencies, check the reports provided by the others for accuracy as well. You need to contact each provider individually to submit a dispute if needed.

3. Contact the Information Provider

You should also be contacting the information provider (such as a lender or debt collection agency) furnishing the credit bureau with information if the error is due to their misreporting. Similar to the credit bureau, send them a letter (sample letter) that clearly states the error(s) and request that they make the necessary corrections.

4. Allow 30-40 Days for an Investigation

Credit bureaus and information providers must investigate your dispute and get back to you within a month or so. If inaccuracies are confirmed, the credit bureau will update your credit report and provide you with a free copy.

What if your Dispute is Unresolved?

If your credit report error dispute is unsuccessful, you can:  Ask the credit bureau to include an explanatory statement on your credit report that explains the dispute from your point of view. This statement is provided alongside your credit report to anyone who makes a request for it.

Swipe Up to Learn More Steps to Correct Errors on Your Credit Repor

For More Posts Like This Visit

Money Saved Is Money Earned!