How Can I Remove Wrong Information From My Credit Report?

Your credit applications may be denied for legitimate reasons, such as high debt or slow payments, but you may get turned down unfairly because of wrong information on your credit report. Bob Sullivan, a "Red Tape Chronicles" reporter for MSNBC, warns that there is incorrect data bad enough to hurt borrowing prospects in as many as one quarter or more of reports. You are legally empowered by the Fair Credit Reporting Act to find and eliminate all wrong information on your Equifax, TransUnion and Experian records.

Instructions

1

Find the wrong information on your credit reports. You are entitled to free copies of the reports reviewed by creditors if you have a denied application. The Federal Trade Commission explains that you also get copies through a special website (see Resources) through which three credit bureaus are forced by federal law to provide no-cost copies every 12 months. Scrutinize every bit of data and compare the report to your own financial records if you think it might be even partially wrong.

2

Scan, print or make copies of any financial records that prove the credit report information is wrong, the FTC advises. For example, scan checks or print out bank records that show payments listed as delinquent were made before the due date. Copy credit card statements that show the correct balance and credit limit if those items are wrong on your credit reports.

3

Attach the records to separate letters written to each credit bureau asking for removal of the wrong information and send them through registered or certified mail. The FTC explains that you have a right to dispute, and the credit bureaus have a month to check your claims once they are received. They are obligated to contact your creditors for verification and remove any data that prove to be incorrect.

4

Verify that the wrong information has actually been removed. The bureaus with which you filed disputes send you updated credit reports that have been altered based on their investigations with the the lenders. They also provide letters detailing the results, according to the Board of Governors of the Federal Reserve System.