How to Correct Credit Report Problems

Credit report problems are often the result of irresponsible financial behavior such as paying bills late, spending more than you earn and writing checks without sufficient funds to cover them. In such cases, the only way to correct the situation is to change your financial behavior. Sometimes, however, problems crop up on your credit report through identity theft or because creditors and financial institutions report incorrect information. You have the right to contest any information in your credit report that you believe to be incorrect.

Instructions

1

Write a letter to the credit reporting agency--Equifax, Experian or TransUnion--or to all three agencies, saying that you believe your credit report to be in error. Explain what specific information is erroneous and provide the correct information, including dates and amounts. Provide copies (not originals) of all documents relevant to the disputed entries, such as court records or payment receipts. Request that the agency correct the information on your credit report. These agencies must investigate consumer complaints within 30 days and notify the companies that provided the erroneous information if they determine that your complaint is justified.

2

Write a letter directly to the bank, credit card company or other business that provided the erroneous information. Attach copies of documents relevant to your complaint, such as payment receipts. Call the company or check its website to find the specific address and contact person to direct your correspondence to. If the company does not agree with your claim, it still must provide a copy of your letter along with any information that may negatively affect your credit report. If the company finds that your claim is justified, it cannot resubmit the erroneous information.

3

Send letters via certified mail and keep the receipts. Save copies of all correspondence related to correcting your credit report. If you speak to a representative of a credit agency who promises to make specific changes, ask for her name and write it down, along with the time and date when the exchange occurred. Keep detailed, professional notes documenting every step of your efforts to correct credit report problems, including a log recording the times and dates of all phone calls. This may help a lot if you decide to file a lawsuit and will help you keep up to speed with the status of your case regardless.

4

Check your credit report again after several months to make sure that the reporting agency has corrected mistakes related to complaints that they have upheld, or that they have included documentation verifying the fact that you have disputed information they may have declined to change. If a credit reporting agency fails to make the changes you have successfully requested, hire a lawyer who specializes in credit issues. Use your records detailing your petition process when preparing for your lawsuit.