Fix an Error on your Credit Report

Reviewing your credit report at least once a year is very important to your financial stability.  You want to make sure that your activity is being accurately reported to each credit reporting bureau.  Mistakes on your credit can count against you when you are applying for a loan or even trying to get a job or an apartment.  If you do pull your credit report and you notice that there is incorrect information, you must take action to fix the erroneous data. 

To do this, you must write to the credit reporting agency to explain why the information is inaccurate.  Make sure to be specific and reference the account name, account number and date of error so that it can be corrected more efficiently.  Include supporting documents such as cleared checks, copies of statements, etc.  It is recommended that you send your letter(s) by certified mail with return receipts so that you know that the letters have been received by each credit bureau.  Make copies of the letters for yourself and file them away in case you need then in the future.

The credit bureaus must review all valid disputes.  Typically they are investigated within 30 days.  The credit bureau will review the info you have sent, they will then forward it on to the company that provided the information (the credit card company, collection agency, mortgage holder, etc).  That company must then review the dispute and report back to the credit bureau with their findings.  If the information being disputed does need to be fixed, the company must then notify all three credit reporting bureau’s immediately so that the error will be corrected. Once the review of the dispute is completed, the credit bureau will send you a letter with the results along with a copy of your credit report.  If you follow these steps, you should be able to clean up any valid errors on your credit report(s).