How to Contact the Credit Bureau When Creditors Don't File Payments in a Timely Manner

Failure of a creditor to file appropriate updates with credit bureaus regarding payments and other sensitive account information can cost consumers big time. When payments aren't updated, account balances remain inaccurately high, altering credit utilization percentages and debt-to-income ratios. Your credit score can plummet when creditors don't update your records. Credit bureaus can obtain accurate information and resolve this situation.

Instructions

1

Obtain copies of your credit reports. Consumers may request a free copy of each of their reports (Equifax, Experian and TransUnion) once a year by going to http://www.annualcreditreport.com. If possible, request hard copies of your reports to be mailed to you. These reports often contain more detailed information than reports available online. Be sure to obtain all three copies, account information can differ between reports.

2

Determine which accounts contain outdated account information. Accounts listed on your credit reports contain many individual pieces of information including the balance, recent payment, account type and whether or not your payments are being made on time. All of this information must be accurate under the Fair Credit Reporting Act to remain on your reports.

3

Make copies of your credit reports, and your receipts showing recent payments that have not been updated. Black out personal identifying information such as Social Security, bank account and credit card numbers.

4

Write a letter to each credit bureau detailing the information required to be updated. The credit bureaus have the responsibility to ensure that all information displayed on your credit report is accurate. When they receive written notification from you that account information is in error, they are required to investigate it. The creditor is then required by law to update the information. Accounts that cannot be properly updated have to be deleted entirely under the Fair Debt Collection Practice Act and the Fair Credit Reporting Act.

5

Mail the letter, along with the copies of your credit report and receipts, to each of the three credit bureaus. Letters should be sent certified mail return receipt requested, and mailed to the bureau addresses as follows:

Equifax
P.O. Box 740256
Atlanta, GA 30374

Experian
PO Box 2002
Allen, TX 75013

TransUnion LLC
P.O. Box 2000
Chester, PA 19022

6

Follow up after 30 days to ensure that the inaccurate information has been corrected. Each bureau should mail you a new copy of your credit report following the completion of their investigation.