How To Dispute a Credit Report

How To Dispute a Credit Report – Under the FACT Act, credit reporting agencies have an obligation to help keep accurate information in your credit report file. But you must first do your part by reviewing your credit report at least once per year. Then inform the credit reporting agencies of any discrepancies you may or may not find. You would be surprised at some of the information that people find in their credit report.

Credit report errors may include any outdated in formation of more than 7 years old, 10 years if you had a bankruptcy. Also check for names that are not you. Any wrong social security number, or accounts that are not yours. Look for addresses where you have never lived, and any credit inquiries that you did not authorize.

The three consumer reporting agencies, Equifax, Experian and TransUnion, have 30 days to investigate. Then they must give you a written report of what they found. And add a copy of any corrections made to your credit report file.

You can dispute a credit report by telephone, by mail or through the credit bureau’s website. It is easiest and best to start a dispute at the credit bureau’s website. Second best is by mail. If you dispute by phone, you would not be leaving an important trail of paperwork.

If the credit report dispute ends up unresolved, you have the right to place a 100 word statement in your credit report file. Your statement would explain any information you feel is not correct. You may also use the statement to give reason for any history of late payments. Like if you had a company layoff or if you were laid up with an illness.

You can also ask the credit bureaus to place a fraud alert in your file if you feel you may have been a victim of identity theft. Fraud alerts can make it more difficult for someone to get credit in your name. Because fraud alerts tell creditors to follow certain procedures to protect you.

How To Dispute a Credit Report

Knowing how to dispute your credit report is very important in order to keep your credit file accurate and your credit score high.

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