How to Dispute Errors on Your Credit Report

You should get your free credit report and check it for accuracy every year. It is not uncommon for mistakes to happen and if you find mistakes on your credit report then you should take steps to have them corrected as soon as possible. Errors left on your credit report can affect your credit score.  You could be turned down for credit when you need it if errors on your report are not corrected.

The Fair Credit Reporting Act or (FCRA) gives you the right to dispute any errors found on your credit report. If you dispute an error, the credit bureau must thoroughly investigate your claim. It has 30 days to look into your claim and make any necessary adjustments. This must be completed within 30 days of the date that you file your dispute.

To file a dispute you must contact the appropriate credit bureau in writing. You should always keep a copy for your records. If the claim is verified it will remain on your credit report.  The credit bureau does have the right to reinstate the entry after the 30 day time period. In order to do this they must inform you in writing at least 5 days before including the entry again.

Another way to get false or inaccurate details removed from your credit report is to talk to the company concerned.  Before calling the company it would be wise to ensure that all your payments are up to date. This is especially important if you are requesting that late payment dates are to be removed.

Sometimes enlisting the help of a credit agency can resolve any disputes. This can be helpful if you are attempting to have repossession information removed from your credit report.

It may not always be possible to get incorrect entries removed from your credit report just by asking.  If talking doesn’t help, you will need to take positive action. In these cases, especially, it is important for you to keep all your payments current. Don’t allow any bills to be paid late anymore. This can easily raise your credit score by a few points and, over time, it can make a huge difference in your credit rating.

Remember that you must file a letter with the appropriate credit bureau (keeping a copy for yourself) to dispute errors on your credit report. The credit bureau has 30 days to respond to your dispute, and either verify the entry or delete it.  They do have the right to reinstate the entry if it becomes verified at a later date.  You will be informed of this before it happens.

To maintain a good credit report always pay your bills on time and don’t default on a current payment to pay an overdue account. Your priority should be to keep all good standing accounts in order.

 

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