How to Report an Error on Your Credit Report
Your credit report contains the following information about you:
- Where you live
- How you pay your bills
- If you have been sued or arrested
- Whether you have filed for bankruptcy
The information contained in your credit report is sold by reporting companies to creditors, insurers, employers, and other businesses that use it to determine if you qualify for credit, insurance, employment, or renting a home. This information can have a substantial effect on your life, which is why it is recommended that you periodically review your credit report to check for any errors, especially before you plan to apply for a home loan, car loan, or insurance policy.
You should also review your credit report to see if your identity has been stolen. People can use your name, social security number, or credit card number to commit fraudulent acts. If someone opens a credit card in your name, it can have a negative effect on your overall credit score.
Ordering Your Free Report
The Fair Credit Reporting Act (FCRA) requires major credit reporting companies like Equifax, Experian, and TransUnion to provide consumers with a free copy of their credit report once every year. To obtain your free report, visit annualcreditreport.com, or call 1-877-322-8228. You can also complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You can request a report from all of the companies at the same time, or you can request one or two reports.
Fixing Errors On Your Credit Report
Both the credit reporting company and the information provider are responsible for fixing inaccurate or incomplete information contained in your report. You will first have to tell the reporting company in writing what information you believe to be inaccurate. Clearly state which items you are disputing, as well as the facts and why you are making your request for it to be removed or corrected. Be sure to include copies of any documents that support your claims. Keep all copies of your dispute letter and enclosures.
Credit companies usually have 30 days to investigate the items you are questioning. All of the relevant data you provide about the inaccuracy in question will also be given to the organization that provided the information for the credit report. If the information provider finds that the information you are disputing is inaccurate, all three nationwide credit reporting companies must then be notified so they can make the necessary changes to your file.
After they have completed their investigation, the credit reporting company is supposed to give you its conclusions in writing, as well as a free copy of your report if your dispute is changed. You can also ask for notices of corrections sent to anyone who received your report in the last 6 months.
It is important to note that not all of your credit accounts will necessarily be reflected in your report. This is because some creditors don’t always supply information to credit reporting companies.
At Atlas Consumer Law, our skilled team of attorneys are committed to helping consumers resolve their credit disputes. If you have sent multiple requests to a credit reporting agency like Equifax, Experian, or TransUnion to have an error removed or fixed, but haven’t heard back, you might have grounds to file a lawsuit. Our Chicago consumer law attorneys can review your case and fight for the justice you deserve.
Call (312) 313-1613 to schedule your free case evaluation today!