How to Correct Errors On My Credit Report

Errors on credit reports are not unusual. Some estimates state that approximately 79% of all credit reports have some kind of an error on them. If an error is serious enough, you may be unable to get a car or student loan, refinance your home, or even get a credit card. Some errors are quite easy to fix through the three credit bureaus, while others can result in several years of letters, phone calls, faxes, and even lawsuits. The best way to avoid errors that hurt your credit rating is to stay on top of your credit and check your credit report often for potentially damaging errors. To fix easy errors, try following these simple steps.

Instructions

Difficulty: Moderately Easy

1. Stay on top of your credit report. Request a copy of your credit report from each of the three credit bureaus (Equifax, TransUnion and Experian) at least once a year.
2. When you find an error on your credit report, make a notation. You can circle the item, put a star beside it, or anything else that will remind you that this item is a mistake.
3. Contact the creditor with any mistakes you find on the various credit reports. This should be done in writing so there is some documentation to the disputed material. Any paperwork you have supporting your claim can be sent along with this letter. Make sure you send it by certified mail with a return receipt request.
4. Contact the reporting agency with any mistakes you find on their report. Again, initial contact should be in writing with documentation. Send by certified mail with a return receipt request.
5. If the credit bureau(s) will not remove the disputed items, request the name, address and phone number of the creditor who made the report. Start back at the beginning and initiate a second investigation, if necessary.
6. When an error is acknowledged and corrected, ask that anyone who has requested to see your credit report in the last six months gets a new corrected copy.
7. When an error is not acknowledged and remains on your report, ask that you be allowed to add a remark on your credit report explaining your side of the dispute.
8. If an error is serious enough, seek legal council. You may have to file a lawsuit in order to get anything corrected.

Tips & Warnings

• It is important to stay on top of your spouse’s credit, as well. Go through the above process with both sets of credit reports.
• Always keep your original paperwork. Only send copies along with letters, because you might never get the originals back. Once the original is lost, your position may be weakened.
• Contact creditors before credit bureaus. This will give the creditor time to correct an error and will hopefully speed up the total process of removing the errors.
• Do not get discouraged by computer-generated responses and phone messages. In an attempt to minimize costs, the credit bureaus try to get individuals to “give up” their quest with these messages. Just keep trying and get the answers you deserve before leaving an error unchanged.
• Be careful when dealing with companies that say they can remove items from your credit report. If they are mistakes, you should be able to remove them without their help. If they are valid, there is no way they can be removed besides the passage of time.