Errors on your credit report can prevent you from being able to get a car loan, mortgage and even a job. Therefore, fixing any errors you find on your credit report is very important. Although many people fear this is a complicated process, it really is quite straightforward and can be done with just a few steps.
Step 1
Look at your credit report. Transunion, Experian and Equifax are the three credit bureaus that create credit reports for consumers. If you only have one copy of your credit report from only one of these bureaus, it may be a good idea to order a copy from the other two to see if they are also reporting the mistake. Each bureau is required to provide your credit report for free once every 12 months through the website AnnualCreditReport.com. You can also call (877) 322-8228 if you prefer to order these credit reports via phone.
Step 2
Notify each of the credit bureaus reporting the error that it is a mistake. Although you can do this through the online form on the credit bureau's website, sending a written letter may be a better option because you can include any proof of your claims along with your letter. Previous correspondence, letters, personal notes and statements are just a few things that may increase the likelihood of the error being fixed. MyFico.com suggests that you clearly identify what you are disputing, thoroughly explain why you believe the item is an error and request either a deletion or correction of the mistake. Send the letter using certified mail and use the “return receipt requested” option to ensure your letter are delivered as you intended and for proof that you sent it.
Step 3
Notify the creditor that is reporting the mistake. The address for the creditor should be found on your credit report. Provide the same type of information you provided to the credit bureau about why you believe the information being reported is inaccurate. As soon as the creditor receives your letter, the creditor will need to indicate on your credit report that the item is currently in dispute.
Step 4
Wait. It can take up to 30 days for the credit bureau to conduct its investigation. When the investigation is completed, you will receive the results in the mail. If the error was proven to be a mistake, the credit bureau will correct the information. If the results of the investigation were inconclusive, you may have to continue with the process in order to get the mistake removed.
Step 5
File a dispute. If the investigation did not result in the mistake being correct, you will need to formally dispute the error. Follow the same process you did to request the investigation to do so, only escalate the topic from investigation to dispute. Again, you can do this online or by mail. If you initiated the investigation online and didn't send proof of why you believing the item is inaccurate, you should do so at this time.
Tips and Warnings
- Make photocopies of all letters and materials that you send to keep for your own records.
- Companies claiming to fix your credit should generally be avoided, as most of the services they charge you for can be done yourself for free.
Things You'll Need
- Copies of your credit report
- Proof of the error (if possible)
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