How to Contest a Debt With the Credit Bureau

Your credit report can contain many inaccurate pieces of information, which may affect your credit score negatively. Credit scores are used by lenders to determine your level of risk. Therefore, you should take the necessary steps to contest any erroneous debts you find on your report. You can request a free copy of your credit report, once a year, for all three credit-reporting agencies, including Equifax, Experian, and TransUnion.

Instructions

1

Determine which information should be disputed. Review your credit file to see if any information has been reported in error. You can contest information on your credit report that is inaccurate or incomplete. For example, certain debt information should be removed from your credit file after a period of seven years.

2

Send a letter to the credit-reporting agency. Once you determine which credit-reporting agency has the inaccurate information, send them a letter stating why you think the information regarding your debt is inaccurate or incomplete. It is advisable to send your letter and all other documentation by certified mail return receipt requested.

3

Wait for the review process. The credit-reporting agency has approximately 30 days to correct the information on your report. The agency will contact the lender that reported the information as part of its investigation. According to FTC.gov, the credit-reporting agency will provide you with the details of its investigation approximately five days after the process has been completed. If there were any changes made to your credit report as a result of the investigation, the agency will send you a copy of your updated report reflecting the changes.

4

Compare the old and new reports. Always keep a copy of the original credit report that includes the inaccurate information. This is your way of ensuring that any disputed information has been removed from your credit file. Sometimes the credit-reporting agency will remove information from your file to meet the mandated 30-day investigation period. If it turns out the information is accurate, based on information submitted by the creditor, it could be placed back on your credit report.