http://www.debts.org/index.php en info@debts.org Copyright 2008 2008-12-01T15:28:00+00:00 http://www.debts.org/11/index/how_to_correct_a_credit_report/ http://www.debts.org/11/index/how_to_correct_a_credit_report/#When:13:11:00Z Both the Credit Bureau (also called Consumer Reporting Agency) and the lender who provided the information to the credit bureau are responsible for correcting inaccurate or incomplete information on your credit report. If you have been denied credit you should request a copy of your credit file from the three main consumer reporting agencies (see below for details.) If there are any incorrect entries on your credit file waste no time in seeking to have them corrected or removed.Here we show you how to correct your credit report. More.... Reasons for correcting a credit reportThere are many reasons why people need to correct their credit report but the most common include: Human error on the part of your creditor when recording paymentsAn ex spouse’s credit problems linked to yours Someone with a similar Social Security Number had information linked to your fileYou are a victim of identity theft Your right to dispute a credit reportThe Fair Credit Reporting Act (FCRA) is a federal law that details how consumer credit information can be collected, given out, and used. The FCRA gives you the right to see your credit file and dispute inaccurate information. For the full Act visit The Federal Trade Commission’s website FCRA.Write to the Credit BureauAlways make your dispute in writing. Your letter should:1) State your name and address 2) Refer to the entries that you believe are inaccurate 3) Support your dispute with documentation ie bill receipts, statements 4) Explain why you believe your credit file contains errorsIt may be useful to include a copy of your credit report with disputed entries highlighted for easy reference. Also, always send copies of documents never the original versions. It is also worth keeping a copy of your letter to the agency.On receiving your letter the consumer reporting agency will investigate your claim and report their findings to you in writing. If the agency agree there has been an error, they must first seek the agreement of the organization who provided the information before they delete or correct an entry. (The organization will be either a bank or credit card company.) Send your letter via certified mail with return receipt requested. If your report contains information which is completely erroneous and has no relation to you then the credit bureau is obliged to correct it. If there is an incomplete entry such as delinquent listing that has since been paid in full, the credit bureau must bring your file up to date. If your credit report shows an account that belongs to another person, the credit bureau will delete it.Ask the credit bureau sends correction notices to anyone who received your credit report in the past six months. Job applicants can have a corrected copy of their credit report sent to anyone who received a copy during the past two years for employment purposes. In the event a reinvestigation does not resolve your dispute, you can ask the bureau to include your objection in your file.Write to the Information Provider (Bank or Credit Card company)At the same time you write to the credit bureau you should contact the creditor with whom you have the dispute. As above, include all copies of documents that support your claim. Getting your credit file amended may happen quicker if your creditor is expecting to hear from the credit bureau.Facts about bad credit reportsTime is the only healer when it comes to correcting a credit report which has genuine defaults and delinquencies.Consider the following:Negative entries remain on your credit report for 7 years. Bankruptcy can be held on your file for up to 10 years. Information about a lawsuit or an unpaid judgment can be on your file for 7 years or until the statute of limitations expires – whichever is longer.Make yourself at home in our Forum and find out what everyone else in America thinks about credit reports. There is also our up-to-date News section for all the latest on personal finance. If you need help finding a provider or would like to review a company, please don’t go without checking out our A-Z directory. Most commonly used credit bureaus Experian (formerly TRW) P.O. Box 949 Allen, TX 75013 (800) 682-7654 Trans Union 760 West Sproul Road P.O. Box 390 Springfield, PA 19064-0390 (800) 916-8800 Equifax P.O. Box 740241 Atlanta, GA 30374-0241 (800) 685-1111 How to Correct a Credit Report 2008-07-15T13:11:00+00:00