How to Report Changes to Credit Bureaus

A credit report is a summary of your financial history--current and past credit accounts, how much money you have borrowed and how well you pay your bills. Many lenders and merchants use credit reports to determine an applicant's creditworthiness. So, it is important that your credit report contains accurate information at all times. However, it is up to you, the consumer, to make sure that your credit report is up-to-date. Learn how to properly report changes to the credit bureaus.

Instructions

1

Order a copy of your credit report. You will need to obtain your credit report from all three major credit bureaus--Experian, TransUnion and Equifax. In most instances, you can order your credit report online--if the credit bureaus can verify your identity and you do not have a security freeze or fraud alert on your account. Visit AnnualCreditReport.com to obtain a free copy of your credit report from each bureau once a year.

2

Review all three credit reports. Read through your credit reports very carefully and verify that all of your personal details and account information is correct. Make a list of any inaccurate, incomplete or outdated items that you find on your credit reports.

3

Submit a dispute form to the credit bureaus. You will be required to complete a separate dispute form for each item that needs to be updated. You may choose to submit the dispute form online, over the telephone or via postal mail. Visit the appropriate credit bureau's website to obtain the dispute form.

4

Wait for the credit bureaus to contact you. It can take anywhere from 30 to 45 days before you receive a response from the credit bureaus--depending on the nature of the dispute. The credit bureaus must properly investigate each disputed item by contacting the creditor and verifying the information in question. However, each credit bureau will contact you individually with the results of its investigation.

5

Check your credit report for updates. Give the credit bureaus at least 30 days to update your credit report. After 30 days, order a recent credit report from the three credit bureaus. Make sure that all disputed items have been updated with the appropriate information.