How to Fix an Error on Your Credit Report
If you find an error on your credit report you'll report it to the credit bureau of course. By law, the credit bureau must check it out. Normally, they must do this within 30 days.
You will need to give the credit bureau all the information you can regarding the error. In turn, they will pass it on to the creditor that you are disputing it with.
Once the creditor has received notice of this dispute, they are required to look into it, and report its findings back to the credit bureau. What happens if it really is an error?
If your dispute is found to be an error, the credit bureau must remove it from your file immediately. They are required under the Fair Credit Reporting Act to fix the problem. They are also required by law to let the other major credit bureaus know about it.
You would be amazed at how often errors occur on a credit report. A good example is late pays. If you have had a credit card and had several late pays, it will show up on your credit report. But, if you begin paying on time again, the credit bureau must reflect that information on your account.
One other important point to mention is if the creditor can't find the information in regards to your dispute or they simply can't confirm it, the credit bureau has to remove it from your file.
Checking out consumer disputes of errors on their credit report may take a little time. When finished, the credit bureau must send you a written report on the results of your report, as well as a current copy of your credit report. If you haven't heard anything at the end of the two months I would recommend contacting the credit bureau and ask them what is happening.
Staying up to date with your credit report is important. You don't want to be in the middle of buying a new car, only to find out there is a problem with your credit. It only makes good sense to stay informed about what information is contained in your credit report.
Published by Terry Edwards
I'm a 49 year old husband and father who enjoys being able to work from home and spend time with my children. View profile
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- You should always review your credit report to check for errors on an annual basis.
- The credit bureau must investigate any reported error requests you send in.
- If there is an error, the credit bureau is required to remove it from your report immediately.