Fixing Credit Report Errors - You Can Do This!

Fixing credit report errors can be done. You just need to know how to do it. You have the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information in your credit file.

Let's get started so your credit file is in perfect order for your to buy that first home.

Dispute Inaccuracies

When a credit reporting agency receives a dispute, it must reinvestigate and record the current status of the disputed items within a "reasonable period of time," unless it believes the dispute is "frivolous or irrelevant."

If the credit reporting agency cannot verify a disputed item, it must delete it. If your report contains erroneous information, the credit reporting agency must correct it. If an item is incomplete, the credit reporting agency must complete it.

If your file shows an account that belongs to another person, the credit reporting agency would have to delete it. Also, at your request, the credit reporting agency must send a notice of correction to any report recipient who has checked your file in the past six months.

Sent a Brief Statement

For items in your credit profile which you feel deserve further explanation (such as an account that was paid late due to the loss of job, military call up, or unexpected medical bills), you can send a brief statement to the appropriate credit reporting agency. The information will be placed in your credit profile and will be disclosed each time it is accessed.

I't that simple, just dispute or sent a brief statement and your on your way to fixing those errors! This is not a quit process though. It will take time to get those errors fixed. But it's important to make sure your credit file is accurate.