A person’s credit report contains important information about their identity and relationship with lenders. However, it is not unusual for a credit report to contain errors. Sometimes, credit reporting agencies are at fault but there are cases when the creditors report incorrect information to the credit bureaus. This article focuses on the right steps on disputing credit report errors. Hopefully, reading this article will be of help in setting things straight about your credit report.

Requesting Your Credit Report

How do you request for a free credit report? You can do this by visiting annualcreditreport.com- a website set up by the three major credit bureaus for consumers who wants to order a free credit report at least once a year. People who have been denied credit by a lender, insurer or have been turned down by his employer because of his credit can also request for a copy of their credit report at no charge.

Be aware that the three major credit bureaus- Equifax, Experian and Trans Union are separate entities so it’s best to get a copy of your credit report from each. If you’re obtaining the second copy of your credit report, it will typically cost you $9 for each credit reporting agency. It is recommended to obtain a copy of your credit report at least twice a year to ensure that no unauthorized charges are being credited to your account.

Disputing Credit Report Errors

Under the Fair Credit Reporting Act, consumers have the right to dispute errors in your report. The right way to send a dispute is by sending a dispute letter through a registered post mail. Address it to the credit bureau that issued your credit report where you’ve found the error. Explain your situation politely and clearly. Enclose a copy of your credit report in your letter and mark the specific items that you’re disputing.

Also, take the time to compose your own dispute letter and state the problem in your own words. You can try to observe sample dispute letters online but don’t be tempted to use the template exactly as they were written since most creditors do not take such disputes seriously.

If you’re disputing incorrect charges on your account, you can also enclose receipts or bills within your letter to show that you’ve already sent your payments. However, if you don’t remember making any of those purchases listed in your report, you may have been a victim of fraud or identity theft.

You need to immediately contact the creditor and advise them that your account is being used fraudulently. Most creditors have zero liability in place for fraud victims. They will generally require you file a police report before they remove the fraudulent charges from your account and fix any inaccurate information.

If the creditor refuses to remove the negative remarks caused by fraudulent use on your account, then you need to write a letter to the bureaus. Explain to the credit bureau that you suspect to have been victimized by fraud. Provide them with all documentation you have to support your claim. In cases like this, having filed a police report really helps your case.

After receiving your dispute letter, the credit bureau will immediately start an investigation as to the real cause of the errors in your report. In most cases, it takes up to 30 days for the investigation to complete and the errors to be corrected.

** you may also read

How To Write a Credit Dispute letter?

What to do with a negative credit report?

About the Author Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. NHBS also has a list of recommended bad credit credit cards.

Copyright 2008.