Question: How do you dispute errors on your credit reports and keep up to date with the results?
Answer:
Dear Reader,
The Fair Credit Reporting Act gives you the right to correct incomplete, inaccurate or fraudulent information on your credit reports. You can do this for free in as little as a few minutes by filing a “dispute” with the credit bureau that reported the error.
The first step in the dispute process is to determine that the information in your reports is truly incorrect. Despite what some credit repair companies advertise, negative but correct information can’t be removed from your reports until it’s due to fall off, which usually happens after seven years.
If you haven’t reviewed your three credit reports (from Equifax, Experian, and TransUnion), you can get free copies at AnnualCreditReport.com. Be sure to check all three reports since they’re not identical. For any report that has a mistake, you’ll have to file a dispute in order to have the information updated or removed.
You can file your dispute with the credit bureau(s) over the phone or by mail, but the easiest option is usually to file online. If you want or need to submit documentation to support your claim, such as a receipt for a bill payment or a letter from a creditor, you can upload it at the time of submission or send it by mail. If sending by mail, be sure to send copies (not originals) and use certified mail to ensure its received.
You can submit your disputes or find contact information for each of the credit bureaus here:
After you file your dispute, the credit bureau must conduct an investigation into your claim in 30 to 45 days. If they determine the information is incorrect, they must remove it and send you a copy of your updated credit report. If they find the information was accurate, it will remain on your report and the credit bureau must send you a notice within five days.
If you disagree with their conclusion, you can ask them to add a 100-word note to your report about the decision. Although it won’t change the outcome of the investigation, it gives you a chance to explain the issue to potential creditors who view your file.
If a material error is not removed from your credit report and you feel further action is needed, you can file a complaint with the Consumer Financial Protection Bureau or you may even want to consult with an attorney who has experience handling credit report issues.
Disputing information on your credit report may seem a bit complicated, and you may be tempted to hire a credit repair agency, but it’s not necessary to pay for help. Filing a dispute is free and fairly easy to do on your own. But, if you have questions or need guidance, you can always contact an NFCC-certified credit counselor. A credit counselor can help you organize your finances, review your credit reports and create a strategy to file and keep track of a dispute on your own.
Mistakes and erroneous information on your reports can definitely bring your credit scores down, so make sure that in addition to using your credit wisely, you check your reports periodically to find and correct errors as soon as possible.
Sincerely,
Bruce McClary, Vice President of Communications
Bruce McClary is the Vice President of Communications for the National Foundation for Credit Counseling® (NFCC®). Based in Washington, D.C., he provides marketing and media relations support for the NFCC and its member agencies serving all 50 states and Puerto Rico. Bruce is considered a subject-matter expert and interfaces with the national media, serving as a primary representative for the organization. He has been a featured financial expert for the nation’s top news outlets, including USA Today, MSNBC, NBC News, The New York Times, the Wall Street Journal, CNN, MarketWatch, Fox Business, and hundreds of local media outlets from coast to coast.