How to Make a Notation on My Credit Report
Many consumers do not realize they are entitled to place a notation on their credit reports. The credit bureaus collect information from banks and other lenders to include on these reports. You cannot control this process, but you can review your reports and challenge mistaken entries with Experian, Equifax and TransUnion. They must remove errors, but they may tell you they found evidence that the item is correct. You can submit a notation detailing your disagreement that must be added to your credit report under the Fair Credit Reporting Act, Creditcards.com explains.
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Instructions
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Write out a clear and concise notation that spells out your side of the dispute. Creditcards.com warns that all three credit bureaus make you limit your notation to 100 words. Plan it out carefully to hit the most important points.
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Send a copy of your notation separately to each of the three credit bureaus. They are independent companies, so your statement will only appear on the credit reports compliled by the bureaus to which you sent it. Keep a copy for your records and send the notation through certified mail to ensure it is received.
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Ask the credit bureaus to provide a new copy of your credit report, including your notation, to any lender that turned you down for an account over the past several months. The Federal Trade Commission (FTC) says they usually charge a small fee to do this, so only request it if you believe your statement is compelling enough to convince the lender to change its decision.
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Tips & Warnings
Your notation doesn't have to be about an item you believe to be in error, Steven Katz of the TransUnion credit bureau explains. You can share information about why you had a string of late payments, explain a repossession, or write about anything you wish to share with lenders who review your reports.
Lenders who review your credit reports may choose to ignore your notation, Creditcards.com warns. You have the legal right to have it included, but companies that pull your reports are under no obligation to read or consider it. It can also draw their attention more sharply to relatively minor negative listings.
