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Articles » Free Annual Credit Report | | How to Dispute Incorrect Information on Your Credit Report? |
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The Fair Credit Reporting Act gives you the right to dispute any incorrect, out of date, or misleading information in your credit report . This can be done by writing a letter to the credit bureau that has the erroneous listing and requesting an investigation. Each of them has a legal obligation to honor this request within thirty days of receipt of the letter.
Often, a credit bureau will remove an item from your credit report if the investigation is too time consuming or complicated. When you submit your request, outline in detail each of the disputed items and be very clear about why you feel they should be removed. You should also complete the “request for reinvestigation” form that comes with your annual credit report.
If you come across an incorrect piece of information on a credit report, it’s a good idea to check with each of the other reporting agencies to see if that same piece of information is listed. The three main reporting agencies are Equifax, TransUnion, and Experian. Each of the bureaus is equipped with sophisticated computerized systems, so there's no reason that they can't do a fast evaluation of the dispute and come to a resolution within the thirty day time frame.
The best way to avoid getting false information on your credit report is to protect your personal information and don't sign any authorizations for credit checks when you have no intention of buying an item. A good example of this is used car salesmen who pressure prospects to fill out the authorization form to “check their purchasing potential”. Each time you give someone your social security number, address, and credit history, you are putting yourself at risk for fraud and possibly identity theft.
If you are trying to maintain a good credit rating or even rebuild a bad one, you need to be certain that the information on your credit report is accurate and up to date. If there is anything over seven years old, contact the credit bureau and have it removed. Check the report regularly to make sure there is no fraudulent activity and be careful about releasing your personal information to anyone.
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