How to Fix Your Credit Rating When It Is Wrong

One of the most frustrating experiences a person can endure is finding an error that negatively impacts his credit score. The good news is that anyone can take steps to correct the error, but the process requires determination, persistence and patience. While no one can legally remove accurate and timely negative information from a credit report, according to the Federal Trade Commission, anyone can remove inaccurate information which affects her credit rating.

Instructions

1

Every individual is entitled to a free credit report once every 12 months from each of the three major credit reporting agencies, and you also can obtain a free credit report if you have recently been denied credit for any reason. Visit the Annual Credit Report website, call 877-322-8228 or complete an Annual Credit Report Request form found on the Federal Trade Commission website and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281 (see Resources).

2

Review each credit report for errors and inaccuracies to determine exactly why your credit rating is flawed. Check for accounts of which you have no knowledge and outdated employment information.

3

Contact the creditors reporting the inaccurate account to notify them of the errors if accounts you do not recognize are on your credit report, or if the amounts owed or showing delinquent are wrong. Sometimes they will agree that there is an error and agree to either to remove the item or make it accurate. It is best to contact them in writing as well as by phone. According to the Fair Credit Reporting Act, the creditor then has 30 days to validate the debt.

4

Formally write each credit reporting agency (TransUnion, Equifax, Experian) and dispute any errors found on your credit report, as this is certainly the source of your incorrect credit rating. Include copies of documents that support your dispute, such as your letters of request to the creditors seeking validation. Ask that an investigation be initiated and that the errors either be removed or corrected. The address to file a dispute will be listed on the credit report that contains the error being disputed.