If there is a mistake made in your credit report, this can have a big impact on many aspects of your life. It could prevent you from getting certain jobs that require a credit check, or certain business or banking deals. Therefore, when a mistake is made through no fault of your own, it is important that you alert the credit reporting agency (CRA) so that it can be fixed as soon as possible.
When you contact the CRA to claim that there is a mistake in your report, they usually need to do some investigation in order to validate your claim. They do, however, have the legal obligation to either investigate the issue at hand, or delete the information completely from your file.
What happens if the CRA refuse to amend my report?
When a mistake is made in your report, it could have been an error made from a multitude of different sources. If the mistake was made directly from the CRA, it is likely that it can easily be fixed. However, when creditors made the mistake, it might be difficult to take action because, upon questioning, they may tell the CRA that their information is correct.
If you believe that the mistake was one made by a creditor and the CRA does not fix it, your second option is to get in touch with your creditor directly. It is important to try and get a face-to-face meeting with your creditor and act with conviction that they have made a mistake. If they admit that they have made a mistake in reporting your information, you should get this statement made in writing and send a copy to the CRA.
What to do if you wish to complain about the CRA, a creditor or a debt collector
If you believe that you have been treated poorly by the CRA, a creditor or a debt collector, you have the right to take action, especially if they are failing to acknowledge that they have made a mistake or fix the mistake that they made. It is a good idea to file a complaint with the Consumer Financial Protection Bureau. You may also consider taking legal action if you have suffered damages as a result of the reporting mistake.