Errors On Credit Report? How To Dispute Your Credit Report
The information in your credit report is used to calculate your credit score. Your score is calculated by a computer with no review of whether the information is accurate. It is up to you to detect and remove any issues, as errors on credit reports impact your score. We have developed a simple guide on how to dispute your credit report, so you can get your score back to normal.
To find errors on your credit report, request a free copy of your report from the three credit bureaus. You are entitled by law to at least one free credit report per year. Review the information carefully and be sure that it is all correct.
If you find errors on credit reports, federal law allows you to dispute inaccurate information. But many don’t know how to dispute your credit report. The easiest way to dispute information on your credit is to contact the lender who reported the inaccurate information. If they agree about the inaccuracy, they can have the wrong information removed immediately.
If the creditor does not agree about the information, or if you cannot contact the creditor, you may file a dispute with the credit bureau. All three bureaus offer three ways to dispute information in your report. You can file a dispute online, by mail, or by phone. The easiest way how to dispute your credit report is online.
However, you file your dispute, be sure to include your contact details, the name and date of the incorrect information, an explanation of why you are disputing the information, and any documentation that substantiates your claim such as receipts, bills, or copies of checks.
Once your dispute has been filed, the credit bureau will contact the entity that put the information on your report known as the furnisher. The furnisher will then either update the information on your credit report, remove the information, or stipulate that the information is correct. Unfortunately, many furnishers will automatically report the information as correct so you may need to dispute the information multiple times.