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Credit Report Errors - How to Get Rid of Them

Learn how to eliminate credit report errors and problems. Find the best information on this repair strategy below.

Did you know that you can dispute wrong information in your credit file? Yes, you can! Actually, its the law to report accurate information. So if you find your report has wrong information on it, its your duty to do something about it.

Dispute a Credit Report Error

If you find wrong information on your credit file, then you may have to take the step to dispute it. How do you do this? First contact the creditor or lender to inform them of the inaccuracy.

If they won't fix the problem, then start a dispute with the appropriate reporting agency. After receiving a dispute, a credit reporting agency has a reasonable amount of time to investigate and then report the results of the items in dispute, unless there is reason to believe that the dispute isn't appropriate.

dispute credit report errors

Credit reporting agencies must correct any erroneous information or delete the disputed item if it cannot be verified. They must also complete any item that is incomplete.

Taking action on credit report errors is worth the effort it takes to get them off your report. It could raise your credit score and save you money on interest for either a home or auto loan.

Let me give you an example. Perhaps your file shows a lender you have never worked with. Then you need to dispute that. How could this happen? Many times these type of errors occur when some have the same name. I saw this happen with a family whose adopted son had the same name as their nephew. Somehow a mix-up would occur and information would appear on each others reports.

The reporting agencies are very good about preventing this type of error, but mistakes do occur. Many times you won't even know about the mistake until you apply for a loan. Thus you have to dispute the credit report error.

Here's another example of a possible error, you find reported that you have been late on account payments, but it fails to indicate that you are no longer delinquent. These mistakes can be repaired and brought up to date.

One of the cool things, once these mistakes have been pointed out, the reporting agencies can be asked to notify any recipients who have checked your credit of the correction. Of course, it is only those recipients who checked in the last six months. So, if this problem showed up because of applying for credit, now the lender is notified that there was a mistake. This could work in your favor if you had been turned down.

Another Credit File Repair Strategy

Send a brief letter to the appropriate credit bureau when you feel there is an item in your credit profile which deserves further explanation. Perhaps due to a job loss the account was paid late. Or there was an unexpected medical emergency or military call up. Your statement will then be put in your file and will be shown when your file is accessed.

There is no reason for you to put up with credit report errors. Improve your financial appearance by having them removed. By initiating this type of repair you may be able to purchase that new home or vehicle and pay much less for it in the end.

Where would you like to go next???

Would you like to know more about disputing? Click here to find out more.

Perhaps you would like to know what agencies to contact. Click here to find out more information on the agencies.

Not sure what kind of letter you need to send? Here are some sample letters to help you.

Do you have more questions and would like to have answers to them? Here's a credit repair forum to help you.

Leave Credit Report Errors - How to Get Rid of Them and return to our Repair Credit Yourself main page.

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