How to Dispute an Incorrect Credit Report

A low credit score can not only affect your ability to obtain credit but also sometimes your ability to get a job. A low credit score means your report contains negative information about some or all of your accounts. You should review your credit report annually to check for inaccuracies and incorrect information. Individuals who have discovered inaccurate account information on their credit report can dispute this information with the reporting agency and creditor to have it corrected or removed.

Instructions

1

Request a copy of your credit report from each of the three major credit reporting companies -- Equifax, Transunion and Experian. Under current legislation, consumers are entitled to a free annual credit report from each company. According to the FTC the only authorized site to obtain these free reports is AnnualCreditReport.com.

2

Review the reports carefully. Highlight and notate any items that you do not recognize or any information that is incorrect.

3

Write a letter to the appropriate agency disputing the inaccurate information. Provide the credit bureau with a detailed account of why you believe the information reflected is not correct. Attach any supporting documentation, such as account statements, canceled checks, or correspondence from the creditor.

4

Make a copy of this letter for your records before mailing it to the credit bureau.

5

Wait for the credit bureau to investigate the claim. You should receive a reply from the credit reporting agency within 30 days.

6

Review the information received in the credit reporting agency's reply to your dispute. The response should include verified items and corrected items with the new information being reported. Verified items have been confirmed by the creditor to be true and correct in their original form, and will have to be disputed with the creditor directly.

7

Dispute verified items directly with the creditor. If you believe that a verified item is indeed inaccurate, you will need to take this up directly with the creditor reporting the account.

8

Gather any collaborating evidence for your claim -- canceled checks, proof of payment, statements and other items.

9

Write a letter to the creditor disputing the inaccurate information. Provide evidence that the information they are reporting is inaccurate. If the account is not yours or if you cannot provide documentation that the account information is not correct, request proof from the creditor of the validity of the debt.

10

Give the creditor a deadline for correction and response. Remind the creditor that they are obligated to correct or remove inaccurate information within 30 days of the date of the letter, and that you are requesting validation that this has been done in the form of a response letter from them or corrected credit report from the credit bureau.

11

Make two copies of this letter and the supporting documentation, one for your file and one to send to the credit bureau.

12

Mail the letter to the creditor via certified return, receipt requested. By doing so, you will have documentation of your dispute and the time frame the creditor has to respond.

13

Write a letter to the credit bureau explaining that you are still disputing the inaccurate information. Provide them with a copy of the letter to the creditor and backup documentation. Request that the incorrect information be corrected or removed immediately.

14

Wait for a response from both the creditor and credit reporting agency.

15

Determine if additional action will need to be taken once you receive the creditor's response. If the information has been corrected or deleted, no further action is required. If they are unwilling correct or delete the questionable account, you can proceed by either taking the creditor to court or by adding a statement of dispute to your credit report or both.