Section 611(b) of the Fair Credit Reporting Act allows consumers to add a 100 word statement to their credit report. Credit bureaus must then make this statement available to any company that obtains a copy of an affected individual's credit file. A consumer statement is an opportunity for you to dispute an entry on your credit file. While a consumer statement won't affect your credit score, it does provide an opportunity to explain any disputed information on your report. However, whether a potential creditor reads your statement is another matter altogether.
Contact the three major credit reference bureaus to request a copy of your credit file.
Check through your file to look for any mistakes.
Establish the facts about any entry you wish to dispute. Simply stating that you don't owe a creditor money is unlikely to have much of an impact. You should keep detailed notes on any contact you have with a creditor or credit bureau with whom you are having a dispute.
Draft a statement of 100 words or fewer that succinctly expresses the nature of your dispute. If you've already paid a debt to a third-party debt collection agency that hasn't been removed from your file, state the debt you're referring to and information on when and how you settled your account.
Submit your dispute in writing to the credit bureaus that have included the rogue entry on your credit report. Request that an updated copy of your file is sent to you once your statement has been added to your report.
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