If you find any incorrect information on your credit
reports, you have a right to dispute or request an investigation of that information
by simply submitting a "dispute" with the credit bureau reporting the
information. The credit bureaus usually include "Dispute Forms" with
your credit report(s).
Complete the Dispute Form sent with your Equifax
credit report, and give details of the information you believe to be incorrect.
Equifax will then check with the credit grantor or public record office to see
if any erroneous information has been reported. Information that cannot be verified
within thirty (30) days will be removed from your report. If the credit grantor
verifies the information as correct, you will need to resolve the dispute directly
with the creditor who is the source of the information in question. If the item
on your credit report is correct, but you disagree with it being reported, you
may send Equifax a brief statement for inclusion on your report. It is not to
exceed 100 words (200 words for the residents of the state of Maine). It will
be disclosed each time your Equifax Credit report is accessed.
If the reinvestigation results in changing or deleting the information you are
concerned about, you may request an updated Equifax credit report to be sent to
any creditor that received your credit report in the past six (6) months (12 months
for Colorado, New York and Maryland residents) and/or any company which received
your Equifax credit report in the past two (2) years for employment purposes.
You may dispute any information on your Trans
Union credit report by contacting the office listed at the bottom of your
Trans Union report. Trans Union will acknowledge receipt of your dispute and provide
a toll–free number to make it easier for you to contact them.
Trans Union recommends that you not apply for credit while your dispute is pending.
Investigations will be concluded within 30 days of the date they receive your
request. If they cannot verify the disputed information within that time frame,
the disputed item will be deleted from your credit report or updated as requested.
A revised report, reflecting the results of the investigation, will be sent to
you at the conclusion of the investigation.
However, if the disputed information is subsequently verified, they will reinsert
the information into your file and notify you in writing within five business
days. If their investigation does not resolve the dispute, you may add a 100 word
explanatory statement to your report. At your request, they will assist you in
preparing the statement. You may also request a description of how they conducted
the investigation including the name, address, and telephone number of anyone
they contact for information.
If you discover an error on you Experian
credit report, simply call or write them (as instructed on your credit report).
It's important to be specific with your dispute: "I was never late with
my payment" or "That is not my account." Simply saying, "This
is wrong" does not give Experian or the source of the information enough
detail to help you resolve your dispute.
When they receive your dispute, they will check with the source of the information
and send you an update. If you continue to disagree with the information, you
can add a statement to the credit report. They will help you word the statement
if you like.
Because the credit bureau must ask the source of the information for a response,
the research request can take up to 30 days.
The Bottom Line.....................
Use this step by step guide to help you in disputing incorrect and/or incomplete
information that appears on your credit report:
Step 1: Complete The Dispute
Form
Complete
the Research Request or Dispute Form, which is included with your credit report.
Include a copy of the report circling the inaccurate information. Make copies
and keep them in a safe place.
Step 2: Send By Certified
Mail
Send your Dispute Form by certified mail, return receipt requested to be sure
of the date the credit reporting agency receives your dispute. Therefore, you
will be able to determine with a fair degree of accuracy the date by which the
credit reporting agency should respond to your dispute. (Thirty (30) days from
date it receives it).
Step 3: Check For A Response
After 30 Days
If any of the credit reporting agencies fail to respond exactly thirty (30) days,
plus return mail time, from the date they receive your initial Dispute Form, call
them at the telephone numbers listed on the credit report. If you do not feel
comfortable speaking directly with the agency, send a letter. (A sample letter
called "No Response" is located at the end of this section).
Step 4: Make A Statement
After using the dispute process, if you still feel that your credit report does
not reflect what you believe is a true and complete picture of your credit history,
you are entitled to have up to a 100 word statement placed on your credit report
stating your dispute and why you believe it to be incorrect.
In the event you did not receive a Dispute Form with your credit report, or you
need to dispute new items after you receive a response from your initial dispute,
you can use this "
Research Request or Dispute Form".
In some cases you can now call the credit reporting agency directly and do a "telephone
dispute."
For a telephone dispute, you will need to:
Know Your Identification
Number:
The ID# of the credit report containing the item or items you are disputing. This
number is usually located at the top of your credit report.
Keep Accurate Records:
If you decide to dispute by telephone, it is very important that you keep a record
of your communications with each credit reporting agency. Be sure to ask the name
of the person helping you, write it down along with the date and keep it for you
records.
In addition to keeping a written record of all telephone disputes, it is advisable
to keep copies of your written disputes.
Check For Response In 30
Days
Remember, if you do not receive a response from the credit reporting agency thirty
(30) days plus return mail time, from the date of your telephone dispute, call
the credit reporting agency back and request an explanation.
Inquiries
If you find an inquiry on your report that you are sure does not belong to you,
you may be a victim of "application fraud." In this case, add this to
your dispute letter. Explain that you believe you have been a victim of "application
fraud." This is the only way other than the original
creditor requesting its removal, that the credit reporting agencies will remove
inquiries. Otherwise, inquiries will remain on your report for up to two
(2) years, in some cases longer. Policies change, so check with each credit reporting
agency for the exact period of time they will allow an inquiry to remain on your
report.
