The Fair Credit Statement Act entitles you to an accurate and complete credit report. If you discover outdated, incomplete, or incorrect information about your credit report, you have the right to dispute and remove or update it.
Options to dispute credit report information
You have two options for challenging your credit report information.
You can dispute with the credit bureau, which company is responsible for compiling your credit report based on information received from your creditors.
Or, you can directly confront the lender or business that provided the information to the credit bureaus.
Start by arguing with the credit bureau, then if the credit bureau does not remove or update the information in your favor, you can follow the dispute to the creditor who provided the information.
Disputing with the credit bureau
You can dispute your credit report information directly with the credit bureaus either online or by mail.
To initiate an online dispute, you must first order a credit report. After ordering your credit report online through the Annual Credit Bureau or the Credit Bureau’s website, you can file a wrongful dispute directly on the Credit Bureau. Each credit bureau should provide a way to send, fax, or email documentation that supports your dispute, such as a copy of a canceled check that shows you made your payment on time.
When arguing online, pay attention to the date you filed the dispute, so you can monitor the credit bureau if it does not respond within the appropriate timeframe. Print a copy of any credit bureau receipt and keep it for your records.
To dispute by mail, write a credit report dispute letter explaining the error.
Send a letter to the credit bureau that submitted the report containing the error – all three credit bureaus if all three of your credit reports contain an error. Here are the mailing addresses for each credit bureau:
When submitting credit report disputes, you also need to submit copies of the evidence that you must support for your claim. Keep original documents for your information.
Submit your dispute via certified mail so you can follow up on your letter and ensure the credit bureau responds in a timely manner. The Credit Bureau has 30 to 45 days to respond to your dispute and allows you to know the results of their investigation.
Discussion with information provider
When arguing with a loan provider who provided information to credit reporting companies, the process is much the same as a dispute with credit bureaus. Write a letter indicating the error you found and explain why this information is incorrect. Again, if you have evidence to support your claim, send copies to him.
You can find a job address by reviewing a recent billing statement.
Make sure you look at the address for the transcript; it is usually different from the address at which you send payments. If you can’t find the address, or if you no longer have billing statements, call the company and ask for the correct address to send correspondence to.
Information providers are required to investigate, just like credit bureaus, and update their credit report if the information is indeed a mistake.