Credit Bureau Disputes

The three major credit bureaus --- Equifax, TransUnion and Experian --- collect credit information on consumers to provide lenders with credit histories and scores, which lenders and businesses use to determine the creditworthiness of a consumer. A consumer's credit history can impact his ability to take out credit cards, get a home loan or even receive employment. Federal law gives consumers the right to have errors in their credit file corrected through the credit bureau dispute process.

Considerations

To determine if there are errors in your credit file, obtain copies of your credit report. According to the Federal Trade Commission, you have the right to receive one free credit report a year from the three major credit bureaus. You also receive a free credit report if a lender denies you credit or an employer denies you employment based on your credit history. Alternatively, you can buy extra copies of your credit bureau reports. The FTC says Colorado, Georgia, Maine, Massachusetts, New Jersey and Vermont law allows consumers free, unlimited access to their credit reports.

Mail

If you find an error in your credit report, send a letter to the credit bureau with your personal information and a copy of your credit report. Be sure to identify the line of your credit bureau report with the error and state why the erroneous information should be removed. Attach documentation of your claim with your dispute letter if possible. The review process usually takes 30 days, says the FTC. The credit bureau will send you a letter detailing their own findings and will correct the disputed information if they find in your favor.

Online

Experian, TransUnion and Equifax all offer online dispute processes to correct inaccurate credit report information. Consumers need a copy of their credit report number to start the process and must verify their identity by answering security questions. The consumer then identifies the inaccurate line of his report and details the reasons why the information is not correct. After submitting an online dispute, the process of verifying the inaccurate information can take place immediately or up to 45 days. Filers can check their dispute status online, indicates TransUnion.

Phone

To initiate a credit bureau dispute by phone, Experian and Equifax provide a number to call on the consumer's credit report. As of March 2011, TransUnion allows consumers to initiate disputes by calling 1-800-916-8800 Monday through Friday from 8 AM to 9 PM Eastern Time. When a consumer calls, he will have to give the file number of his credit report and his personal information for identification purposes. The company will then flag the disputed item and record the consumer's reasons for the dispute. The credit bureau then investigates the claim and mails the consumer their findings.