How to Repair Your Credit Repot

Repairing your credit report should be approached from two different directions: first is the credit bureau where your information is stored and reported; second is the creditor that reported the erroneous information to the credit bureau. Let's start with the credit bureaus. Here are the three main ones: TransUnion, Experion and Equifax.

You will need to obtain copies of your credit reports. Everyone is entitled to one free copy of their credit report from each credit bureau each year. Log on to their web-sites order and down load your free copy. Next you need to read and understand the reports themselves. Each of the credit bureaus has educational information available on-line for free. You should review this information to gain an understanding of your credit reports and what they say about you.

After learning about your credit reports each one should be read thoroughly and they should be compared. Each one should be basically the same in terms of what the y report, so if you start to notice significant differences between them with what is being reported chances are you have some erroneous information in you reports. The next step is to identify the erroneous information and determine if you want to challenge that information, anything negative that is erroneous should be challenged. Also, watch out for any indication of identity theft such as someone else opening credit cards or store charge accounts in your name.

Once you have identified items in your reports that you believe are erroneous you will need to contact both the credit bureau and the creditor that sent in the wrong information in writing and identify the incorrect information explain why the information is incorrect and demand that it be removed from the credit report. Include copies of any documents that support your position, do not send originals. If the creditor reports the same information again to the credit bureau it must also include a notice of your dispute.

The credit bureau must investigate the items in question within 30 days unless they consider you dispute frivolous (they will need to support their conclusion that your dispute is frivolous). Since, both parties are responsible for correcting erroneous information in your credit report under the Fair Credit Reporting Act you have the law on your side.