Your credit report and credit score have the power to impact your financial future – potentially affecting your ability to secure a loan, rent an apartment, or even get a job. So, when errors appear on your credit report, you should act quickly to prevent them from harming your credit reputation and hindering your progress. Fortunately, the Fair Credit Reporting Act empowers you to dispute inaccuracies and protect your creditworthiness. Read on for a clear, step-by-step guide on how to report an error on your credit report.

Obtain Your Credit Reports

First, you’ll need to get copies of your credit reports. You’re entitled to one free report each year from each of the three major credit bureaus: Equifax, Experian, and TransUnion. You can access these reports online at AnnualCreditReport.com.

Once you have your reports, comb through each one thoroughly. Pay attention to your personal information, account details, payment history, and any public records. If something doesn’t look right, it could be a mistake that you’ll want to dispute right away.

Identify the Error

Where might you find an error? Be on the lookout for:

  • Misspelled personal information
  • Accounts or debts that don’t belong to you
  • Incorrect payment histories
  • Duplicate listings for the same account
  • Accounts listed as open or active after they’ve been closed.

 

Gather Supporting Documentation

Your next step is to back up your claim. Gather any relevant documentation that can prove what’s listed on the credit report is a mistake. This could include:

  • Credit card or loan account statements
  • Canceled checks
  • Payment receipts
  • Correspondence with creditors

 

The stronger your supporting documentation, the easier it will be for the credit bureau to investigate and resolve your claim.

Write a Dispute Letter

Once you have your documents in order, it’s time to write your dispute letter. Be sure to clearly explain the error, specify the incorrect item and why it’s wrong, reference the exact account number or date in question, and attach copies of your supporting documents. Don’t send original documents.

Send Your Dispute

Send your dispute to the credit bureau via certified mail with a return receipt requested. This provides you with proof that the bureau received your letter. While many bureaus also allow online dispute submissions, maintaining a physical record will contribute to your peace of mind.

Follow Up

The credit bureau is required by law to investigate your dispute within 30 days. If you don’t hear back within that period, follow up. Persistence will help ensure that the issue is resolved promptly and your creditworthiness is not affected.

Escalate if Necessary

If your dispute is not resolved or you disagree with the results, contact your state’s consumer protection agency or attorney general.

Review Reports Regularly and Address Errors Promptly

Don’t let mistakes hold you back financially. Follow these steps to protect your credit and financial future.

 

Your credit health matters. Our financial specialists can provide expert insights to help you build and maintain a strong credit score. Contact us today to learn more.

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