How to correct errors on your credit report

Are you aware that you can get a free credit report every 12 months from each of the 3 credit reporting agencies – TransUnion, Equifax, and Experian? The website to use is: http://www.annualcreditreport.com. What do you do if you notice errors when you review the report? You have the right to contact the credit reporting agency to dispute anything you see on your report that is inaccurate.

The Fair Credit Reporting Act requires credit reporting agencies to investigate credit report errors. Notify the Agency in writing that you dispute the accuracy of the entry and why. Include any information that would clarify your claim. The Agency has to respond to your letter within 30 days of receipt unless they deem the dispute as frivolous.

If an error is discovered, it must be corrected. If the entry can’t be verified as belonging to you, it must be removed completely. When the investigation is complete, the credit reporting agency is required to send you the written results. If an item is changed or deleted they must also send you a free copy of your credit report reflecting those changes.

At your request, the credit bureau will inform lenders who have requested your credit report within the last six months or businesses that requested your report for employment reasons within the past two years, of any corrections or deletions made to your file.

Some things you may see as errors may be legitimate disputes between a merchant and consumer. You have the right to enter your own personal statement. It will become a permanent part of your credit record and will be included with all other information given out at the time your credit report is requested.

The Federal Trade Commission enforces the Fair Credit Reporting Act. If you continue to have concerns regarding your credit report or any of the 3 credit reporting agencies you can contact the Federal Trade Commission. Their website is: http://www.ftc.gov or you can call them toll free at: 1-877-382-4357.

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