How to Fix a Mistake on Your Credit Record

Your credit report can make or break the approval of your dream house, dream car, and in some cases your dream job. After reviewing your credit report, you may determine that there may have been errors that can cause your score to decrease. Fortunately, due to the Fair Credit Reporting Act, you are legally obligated to dispute any mistakes on your credit report. The credit bureaus, Experian, TransUnion and Equifax, are bound to certain laws that require them to remove any issues on your report that are not accurate.

Instructions

1

Specifically identify the mistake. Review your credit report carefully, and look at each trade line to determine what exactly is wrong. It could be a number of reasons. For example, you may not know what the account is, there may be a late payment that is untrue, or you could have paid the account in full, but it does not reflect that on your credit report.

2

Contact the credit bureau. Once you have all three credit reports in front of you, there should be a file number for each credit report. You can either called Equifax, Experian or TransUnion with your file number and make dispute over the phone, you can go to their websites and make disputes, or you can write a letter, including a copy of your Social Security card and your driver's license, indicating what the mistake is. If possible, include any proof of the error that was made, and provide a copy of that as well.

3

Allow the credit bureau to do all the work. If you are sure the creditor made the error, contact them as well. If the creditor and/or the bureau determine there is a problem they will correct the issue. The creditors have systems that will automatically update your credit report. Do not rely on the creditor alone to update your report. Keep accurate records of who you spoke with and get everything in writing. Also, depending on their recording system, it may take more than 30 days for them to update your credit report, which is the reason why contacting the credit bureau directly is important.

4

Check your report again 30 to 45 days later. Thirty days should be ample enough time for the error to be corrected. If you file a dispute with the credit bureau first, they will contact you within 30 to 45 days with their findings.