How To Dispute Wrong Credit Report Information

Dispute incorrect and outdated information listed in your credit file and raise your credit score

. Did you know that judgments, charge-offs, late payments and other negative items can be removed after seven years? Did you know bankruptcies can be removed after 10 years? Chances are that if you have ever had an account turned over to a collection agency, the debt collector is still reporting the negative item to the credit bureaus, even if seven years have passed.

The three agencies responsible for compiling and maintaining accurate information in your credit file Experian, Equifax and TransUnion. They list what is reported to them; it is up to you to make sure that the information listed is accurate.

Order It

Order a copy of your current credit file from all three agencies; you can do so for free online at www.annualcreditreportcom. Each consumer is entitled to one free report each year. You are also entitled to a free report if youve been denied a loan, insurance or employment based on your credit file information.

Check It

Check each line on the report for inaccuracies. Inaccuracies such as a wrong address, misspelled name, an incorrect date of birth or social security number will require supporting documentation in order to file a dispute. A drivers license, birth certificate, utility bill, W-2 form or social security card are the types of documentation that the credit bureau may request before correcting the inaccuracies. Unless the report is based solely on a wrong SSN, these corrections will not improve your score.

Read each account listing carefully, particularly the negative items. Check the dates to make sure that the seven-year window is not up. If it is, file a dispute to have the item removed.

Dispute It

Disputes must be submitted in writing or online in order for the information to be corrected. Each of the three reporting bureaus maintains that filing online disputes is the fastest and simplest way to correct inaccuracies.

Each entry on the account section of your report has identification. Make note of this number as well as the name of the reporting company. No matter how you file your dispute, youll need a corresponding identification/transaction number in order for the credit bureau to identify the incorrect listing.

Tell the bureau why you feel the entry should be removed. For example, advise them that you have never had an account with the reporting company or that the date of the last activity is more than seven years old.

Wait It Out

Once the credit bureau receives your dispute, they have 30 days to investigate the issue and make the correction. This typically involves contacting the reporting company to determine the basis for the report.

by: Kat Kally

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