How to dispute credit report errors

Good credit scores are important to many consumers in Vadnais Heights, Minnesota, because it allows them to get loans. If you are denied a loan, there could be an error on your credit report. Luckily, you have a way to dispute those errors and remove them to fix the issue.

Access your credit report

By law, you are entitled to receive a free credit report once annually from all three major credit bureaus. Some inaccurate credit reporting errors to look for include:

  • accounts with an ex-spouse
  • an account with a similar name
  • accounts showing unpaid that are paid
  • unfamiliar accounts
  • debts listed multiple times

If the error is small, such as a wrong phone number, you can handle this directly with the bureau.

Gather documentation and compose a complaint

Gather the documentation to prove the validity of the error and give the bureau what they may need to investigate. Some documents you could use for proof include canceled checks, utilities, driver’s license, or state ID, and social security numbers.

You can file a complaint online or send a letter to each of the three credit bureaus, but they have their own claims process. List each error, explain why you think it is wrong, enclose the support documents, and keep copies of complaints. The FTC also suggests consumers send the complaint to the furnisher or lender who reported it.

Wait for a response

The credit bureau commonly has 30 days to start an investigation and contact you within five days of the results. The furnisher also has 30 days to complete an investigation and contact all the credit bureaus who received the incorrect information. In some situations, it may take up to 45 days before you get a response, such as adding a new document.

If the bureau or furnisher believes the claim is frivolous, they won’t investigate further. You may bring litigation against a company for false credit reporting.