You are entitled to make notations on your credit report under the Fair Credit Reporting Act (FCRA). These notations are called consumer statements, according to the BCS Alliance website. They give your side of a dispute if you were unable to get information removed from your credit report, or they explain the circumstances surrounding a negative item. Creditors will see your notations and consider them in rendering a final decision.
Step 1
File a dispute to remove erroneous information before adding a notation to your credit report. A consumer statement might help, but it's much better to have the item in question removed if possible. The credit bureau must investigate the matter and remove the item if it cannot be verified.
Step 2
Dispute the entry with the original creditor if the credit bureau rules against you. The creditor must stop reporting the item if it cannot produce proper documentation of its accuracy.
Step 3
Write out a consumer statement explaining your side of the dispute if the item is not removed. You can also add notations about items that are valid if you want to explain the circumstances. For example, BCS says you might want to explain that you had a period of late payments because you lost your job or had a home fire or other disaster.
Step 4
Send your statement to each credit bureau if necessary. TransUnion, Experian and Equifax are the three main credit bureaus. They often report different information, so you may not need to send your notation to all of them. You only need to add it to the reports that contain the information you don't agree with or wish to explain. BCS advises telling them you want your statement inserted into your report exactly as you have written it.
Step 5
Ask each bureau to send you an updated copy of your credit report once it has added the notation. Double check the entry to make sure the bureaus added the correct wording.
Tips and Warnings
- Once you have added a consumer statement with your credit report, the Federal Trade Commission (FTC) says it will be given to anyone who requests a copy of your report in the future. You can also ask the credit bureau to send a copy to anyone who requested your report in the previous year. The FTC says you may have to pay a fee to do so.
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