If you find an error on your credit report, you need to dispute the error. This can be a time-consuming process. It is important to begin as soon as you find an error on your report. If this is a dispute regarding a late payment or a delinquent account, be sure to have all this information ready to refer to as you make your dispute. Your disputes should be made in writing, so that you can track what has happened.
First, you should write a letter to the credit reporting agency or agencies that have listed the inaccurate information on your credit report. When you mail the letter you should mail copies of documents that support your claims. For example if you are disputing that you have paid off an old debt you should mail in the receipt or last bill that states that you have paid the account off in full. If you have accounts that were opened fraudulently, you should include a copy of the police report that you have filed.
Next, you will need to contact the financial institution that has reported your information to the credit bureau. This should be done in writing as well. Again, you should mail in copies of information that would support your claim that you made your payments on time. If you are disputing identity theft you will need to call and find out what information they will need to report this information. If you are a victim of identity theft, you will need to file a police report to send in with the information.
The credit reporting agency should investigate the claim within thirty days and mail you a copy of the results of the investigation. Once you receive the information, you can decide what step you should take next. You may need to request that the bank that reported incorrect information resubmit your corrected information. You may call the credit reporting agency and discuss other options after you have requested an initial investigation.
When you mail in your requests you should use registered mail. This lets you know when the credit reporting agency received your request. This will help you to track your communication as well.
Save all the documents and letters that relate to these disputes. You may need them later on. This information should be stored in a secure place, since the information can be used to steal your identity.
What You Need
- Credit Report
- Old statements and bills to prove mistakes
- Police report if your identity has been stolen