Disputing Errors on Your Credit Report

You already understand how important your credit score is to your financial (and personal) wellbeing. Your credit affects your ability to receive a mortgage or auto loan, credit card, or certain insurance policies. If you have previously filed for bankruptcy, you know how hard you’ve worked for years to build that figure back up. For all of those reasons, it can be extremely frustrating when you notice an error on your report that affects your score. This blog will walk you through the general process involved in settling errors that may pop up on your credit report. 

Step 1: Send a dispute letter to the applicable credit reporting company informing them that you believe there is an error on your credit report.

Before jumping to a lawsuit, you should attempt to resolve the dispute amicably directly with the agency. When you notice an error on your credit report, you should mail the applicable reporting agency (Equifax, Experian, or TransUnion) a copy of the erroneous report and clearly label what you are alleging is incorrect. 

Along with your complaint, you should put down all the pertinent information that the company needs to know, including your name, address, and contact information. Clearly explain why you are disputing the item on your credit report, and kindly ask them to correct the error. Any supporting documentation you can send that bolsters your allegation should also be sent. 

Step 2: If you know who furnished the credit reporting agency with the incorrect information, contact them directly.

Banks, credit unions, and other financial-service companies are obligated to furnish information to the three major credit reporting bureaus. If you believe that the reason for the error on your credit report was due to incorrect information furnished, then you can contact your bank directly. 

Step 3. Wait for the credit bureau to respond and review its findings.

Within a few days, you should receive a response from the agency if it claims that your allegation is frivolous. If this is the case, the agency will not investigate your claim. If they inform you that there was indeed a mistake, then they should provide you with a corrected credit report and inform the other credit reporting bureaus of the mistake. 

Conclusion

It is estimated that up to 25 percent of Americans have wrong information on their credit reports. If it happens to you, it can seriously hamper your ability to secure loans, among other adverse consequences. Having trouble with a credit reporting bureau? Give our firm a call at 866-384-8236 to get started on a free consultation.

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Ciment Law Firm, PLLC

With over 15 years of experience in bankruptcy, debt collection defense, and consumer protection, Daniel Ciment is a recognized consumer advocate and attorney throughout the state of Texas.

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