How to Dispute Credit Report Information

One important step in credit repair is disputing inaccurate and incomplete credit report information. The Fair Credit Reporting Act (FCRA), a Federal law, gives you the right to an accurate credit report. If you find information on your credit report that doesn’t belong there, you can use the credit report dispute process to have that information removed.

How Credit Report Disputes Repair Credit

Inaccurate negative information hurts your credit score. For example, if you have an account that’s reported by two collection agencies, you’re taking an unnecessary credit score hit since only once collection agency can have the account at a time. If payment is reported late, but you actually made it on time, your credit score suffers.

Checking your credit report is the first step in credit repair. Removing inaccurate information is the next step.

What Information Can Be Disputed?

Technically, you can dispute anything on your credit report. Federal law requires the credit bureau to remove information that’s incomplete, inaccurate, or unverifiable.

• Your social security number (sometimes only the last four digits of your SSN appear on your credit report)
• Payments reported late that were actually paid on time
• Negative information that’s passed the credit reporting time limit (seven years for most accounts, 10 years for bankruptcy) can be used for credit repair
• Accounts being reported by two collection agencies at once
• Accounts that aren’t yours
• Accounts reported as closed that are actually open
• Accounts discharged in bankruptcy that are reported delinquent or charged-off

How to Make a Credit Report Dispute

If you order your credit report online, you might be inclined to make your credit report dispute online, too. However, this leaves you without the paper trail you’ll need if the credit bureau doesn’t follow the law.

The best way to send your credit report dispute is through the mail. Write a letter and send it certified mail with return receipt requested. That way you have proof that of when the letter was mailed and received.

Even if you have multiple errors for your credit repair list, you should dispute them one at a time. Be careful not to bombard the credit bureau with several dispute letters at one time. Instead, send a few, wait, and send a few more. If you send too many disputes at once, the credit bureau might decide your disputes are frivolous and refuse to investigation (which they can do legally).

In your dispute letter make you include the reason for the dispute, e.g. the payment reported as late was made on time. It helps to include a copy of the credit report you’re disputing with the error highlighted. You should also include copies of any proof you have supporting your claim. Keep the original copy of your proof for your records.

Send your dispute to the credit bureau that provided the report you’re disputing. Here are the mailing addresses for all three credit bureaus:

• Equifax
• P.O. Box 7404256
• Atlanta, GA 30374-0256

• Experian
• Dispute Department
• P.O. Box 9701
• Allen, TX 75013

• TransUnion
• Consumer Solutions
• P.O. Box 2000
• Chester, PA 19022-2000

Once you send your credit report dispute, the credit bureau typically 30-45 days to do an investigation and send a letter alerting you to the result of the investigation. If your dispute results in a change to your credit report, you’ll automatically receive a free copy of your updated credit report. Otherwise, the bureau will send a letter telling you why your dispute was rejected. Continue on with each credit repair task one at a time.

Sample Credit Repair Dispute Letter

Complaint Department

Experian

To Whom it May Concern:

I received a copy of my Experian credit report and am writing to dispute an item(s) on the report that needs to be corrected.  I have circled and numbered the items on the enclosed copy of the report.  The reason the item needs to be corrected is explained below:

Item #1:  Owed Balance

Creditor:  HSBC Credit Card

Reason:  This account was paid in full on May 3, 2009

Item #2: Judgment

Docket #:   JB202020 Small Claims

Reason:  This account was paid in full on June 8, 2009

Attached is a copy of the credit card statement showing a zero balance, and a copy of the court document supporting my position regarding the judgment.  According to the provision of the Fair Credit Reporting Act 611(a) [15 USC 168li(a)], these disputed items must be reinvestigated or deleted from my credit report within 30 days.  In the interim, these items should be noted on my report as “in dispute”.  I am also requested the names, addresses and telephone numbers of individuals you contact so that I may follow up.
If it is determined through your investigation that the disputed items are inaccurate, please correct my report and send me notification.  I’m also requested an updated copy of my credit report sent to the address below.  According to the provisions of 612 [15 USC 168Ij], there should be no charge for this copy of the report.

If you have questions or need more information, please contact me at (phone number).

Thank you,

Sincerely,

Name

Address

Enclosures: credit report, credit card statement, court document

Similar Posts:

• How To Construct a Credit Dispute Letter to Your Creditors
• Credit Repair Don’t: Dispute Everything On Your Credit Report
• How To Dispute Credit Report Information with Original Creditors
• How to Know When Your Credit Repair is Complete
• Putting Together a Credit Repair Plan