How to Report an Error on Credit Reports

Reporting an error on a credit report involves contacting the credit agency and the creditor who made the erroneous report with documentation validating the disputation. The three major credit bureaus are Experian, Equifax and TransUnion. The Federal Trade Commission (FTC) mandates that the credit reporting agency investigate any claim of error and to provide some sort of response within 30 days of receiving the complaint.

Instructions

1

Gather documentation demonstrating that a particular entry on a credit report is somehow erroneous. Bank and credit card records can demonstrate that a particular transaction never took place. If you reach a settlement with a creditor but that fact is not noted on the report, present written proof of the agreement to compel the reporting agency to correct the mistake.

2

Report the error to the agency in a letter or using an online form. Report an error even if it will not necessarily damage your credit rating. Common errors include members of the same family or people with similar names getting mixed up on the report. The procedure for reporting a credit report error is similar across all major credit reporting agencies. Most will require that you include relevant documentation along with the claim. Send copies of all documents to the agency, but keep the originals for your files.

3

Contact the creditor that made the erroneous report. Contact the company in writing if possible regarding the mistake to create a paper record of the dispute. Verbal agreements don't leave records and are inadmissible in credit report error investigations.

4

Wait for a decision from the credit reporting agency. If it does not decide in your favor, you have recourse in the form of submitting a complaint to the FTC regarding the handling of your case.

5

Request free, corrected credit reports to be sent to any relevant parties if the credit reporting agency finds that an error was made in your report. The agency is under a mandate to provide corrected reports to individuals and organizations, such as employers and banks, in case of an error.