How to Update Credit Information

If erroneous information is reported by your creditors, you want to make sure it is corrected. Similarly, you want to ensure positive updates occur as soon as possible. Monitoring your credit reports regularly can keep you informed. While you cannot change credit information with the reporting bureaus yourself, contacting your creditors can ensure corrections are made. In some cases, a rapid re-scoring service might be able to help.

Instructions

1

Check your credit report with all three major reporting bureaus (Experian, Equifax, and TransUnion) to see their most current information about you. One free credit report per agency is available to you on a yearly basis by going to the Annual Credit Report website.

2

Contact individual creditors if they have reported erroneous information about you. Make sure to get any assurances that they will correct errors in writing for your records.

3

Contact the three major credit reporting bureaus to dispute erroneous information on your report. Provide them with copies of supporting documentation, such as letters from creditors stating that they made errors in reporting information.

4

Talk with your mortgage lender or loan broker about the possibility of using a rapid re-scoring service if you are currently negotiating a mortgage or other loan. Provide them with supporting documentation regarding your claims that errors are lowering your credit score. They will provide this information to the rapid re-scoring service, which will contact the credit unions and update your information quickly.