Credit Report Errors: How to Fix Errors on Your Credit Report
Sometimes outdated or even incorrect information can appear on your
credit report. If you do have credit report errors, your ability to obtain credit may be impacted.
What do if you find an error on your credit report:
1. First of all, take action immediately - don't wait to fix the credit report errors.
2. Finding a credit report error on one
credit report means that there is a chance that you have the same credit report error on your file with the other two credit reference agencies. Therefore, as part of the credit report error correction process, it is wise to check your credit report with the other credit reference agencies, as the error may or may not appear on your credit records with each of these companies. Note that the contact information for all three credit reference agencies is provided at the end of this article.
If you do find that the credit report error exists with more than one agency, you will want to follow the process below for each agency where errors exist.
3. Keep a record of everything that you do. Never send original documents and always make copies of everything (letters etc.) that you send when dealing with a credit report error. If you send anything via post, send all correspondences return receipt requested.
4. Before you contact the credit agency, contact the creditor directly about the credit report error. If you are able to easily prove that there is a credit report error, you should be able to get the matter cleared up relatively quickly. When a credit report error has occurred, the creditor is required to update its internal records as well as its records with all of the credit agencies it deals with, usually within 28 days.
5. Put all conversations in writing. If you talk to a creditor by telephone, document the conversation, and then send the creditor a copy. Include your account number, full name, the date and time called, who you spoke with, and what you discussed in detail. This includes listing each item being reported as inaccurate, along with an explanation of why it is inaccurate. Provide copies of documents that prove the credit report error whenever possible.
6. If working with the creditor directly does not fix the credit report error, next you should contact the credit reference agency in writing. Ensure that you have a printed copy of your
credit report from them before calling. Include a copy as well as a description of the credit report error and copies of the correspondence you have had with the creditor. The credit reference agency should then investigate your claim and contact the creditor as part of the dispute resolution process. Once investigations by both the credit reference agency and the creditor have been completed, the credit reference agency will make any changes to your credit file based on information reported by the creditor. The credit reference agency will also notify you that a change has been made.
What do you do if the error doesn't get fixed?
If you cannot get the error on your
credit report fixed by following the steps above, there is one final step that you can and should take. You have the right to attach a 200-word statement about the credit report error, free of charge, to your credit file that explains the nature of your disagreement. Your statement will become part of your credit file, and will be included each time your
credit file is accessed.
Contact information for credit reference agencies:
Equifax
Credit File Advice Centre
PO Box 1140
Bradford
BD1 5US
Tel: 0870 010 0583
Experian
Consumer Help Service
PO Box 8000
Nottingham
NG80 7WF
Tel: 0870 241 6212
Call Credit
Consumer Services Team
PO Box 491
Leeds
LS3 1WZ
Tel: 0870 060 1414
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