Will Disputing an Item Temporarily Remove Item From Credit Report?

TransUnion, Equifax and Experian are the primary credit reporting agencies --- also referred to as credit bureaus --- that maintain and sell consumer credit files. Consumers have the responsibility to ensure the accuracy of the information listed in their personal credit file. The only way to correct an inaccuracy is to file a dispute with each credit reporting agency. Disputing an item is also the only way to remove outdated accounts.

Dispute Process

Each of the consumer credit bureaus offers various methods for disputing inaccuracies and requesting negative item removals. Consumers must first obtain a copy of their current credit file prior to initiating a dispute. Credit reports have reference numbers, which are part of the required information when disputing items. Consumers are entitled by law to one free credit report each year from each agency; the report does not include the consumer's credit score. Disputes may be initiated online, by phone or in writing. Each credit bureau outlines the necessary steps for the dispute process as part of the credit report.

Dispute Time Frame

The Fair Credit Reporting Act is a federal law which governs credit reporting agencies. Once a dispute is filed, each agency has 30 to 45 days to complete the investigation. The initial dispute time frame allowed by law is 30 days, but one 15-day extension is also acceptable. The dispute time frame begins on the date that the consumer initiates the dispute in writing. Disputing an item does not temporarily remove it from the credit report.

Disputed Item Notation

Once an item is disputed, the credit report includes a notation that the item is in dispute. The information is not removed from the credit report until the credit reporting agency determines that the information is false or that the item is too old to remain as part of the report. In addition to filing a dispute, consumers have the right to make a written statement regarding the item in question. The statement remains part of the credit file as long as the disputed item is listed.

Removing a Disputed Item

If the credit reporting agency's investigation validates the consumer's dispute claim, the item is then removed from the credit report or the inaccuracy is corrected. Consumers are entitled to receive a corrected credit report after any changes are made as a result of a dispute. Consumers can also request that the corrected credit report be sent to anyone who received the incorrect report within the last six months. If the report was issued for employment reasons, consumers can request that a copy be sent to anyone who received the report in the past two years.