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How
to Dispute Credit Report Errors
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Correcting Errors
Both the CRA (credit reporting agency) and the organization that
provided the information to the CRA, such as a bank or credit card
company, have responsibilities for correcting inaccurate or incomplete
information in your report. To protect all your rights under the law,
contact both the CRA and the information provider.
First, tell the CRA in writing what information you believe is
inaccurate. Include copies of documents that support your position. In
addition to providing your complete name and address, your letter should
clearly identify each item in your report you dispute, state the facts
and explain why you dispute the information, and request deletion or
correction. You may want to enclose a copy of your report with the items
in question circled. Your letter may look something like the sample
below. Send your letter by certified mail, return receipt requested, so
you can document what the CRA received. Keep copies of your dispute
letter and enclosures.
CRAs must reinvestigate the items in question--usually within 30
days--unless they consider your dispute frivolous. They also must
forward all relevant data you provide about the dispute to the
information provider. After the information provider receives notice of
a dispute from the CRA, it must investigate, review all relevant
information provided by the CRA, and report the results to the CRA. If
the information provider finds the disputed information to be
inaccurate, it must notify all nationwide CRAs so they can correct this
information in your file. l Disputed information that cannot be verified
must be deleted from your file.
- If your report contains erroneous information, the CRA must
correct it.
- If an item is incomplete, the CRA must complete it. For example,
if your file showed that you were late making payments, but failed
to show that you were no longer delinquent, the CRA must show that
you're current.
- If your file shows an account that belongs only to another person,
the CRA must delete it.
When the reinvestigation is complete, the CRA must give you the
written results and a free copy of your report if the dispute results in
a change. If an item is changed or removed, the CRA cannot put the
disputed information back in your file unless the information provider
verifies its accuracy and completeness, and the CRA gives you a written
notice that includes the name, address, and phone number of the
provider.
Also, if you request, the CRA must send notices of corrections to
anyone who received your report in the past six months. Job applicants
can have a corrected copy of their report sent to anyone who received a
copy during the past two years for employment purposes. If a
reinvestigation does not resolve your dispute, ask the CRA to include
your statement of the dispute in your file and in future reports.
Second, in addition to writing to the CRA, tell the creditor or other
information provider in writing that you dispute an item. Again, include
copies (NOT originals) of documents that support your position. Many
providers specify an address for disputes. If the provider then reports
the item to any CRA, it must include a notice of your dispute. In
addition, if you are correct-that is, if the disputed information is not
accurate-the information provider may not use it again. Accurate
Negative Information When negative information in your report is
accurate, only the passage of time can assure its removal. Accurate
negative information can generally stay on your report for 7 years.
There are certain exceptions:
- Information about criminal convictions may be reported without any
time limitation.
- Bankruptcy information may be reported for 10 years.
- Credit information reported in response to an application for a
job with a salary of more than $75,000 has no time limit.
- Credit information reported because of an application for more
than $150,000 worth of credit or life insurance has no time limit.
- Information about a lawsuit or an unpaid judgment against you can
be reported for seven years or until the statute of limitations runs
out, whichever is longer. Criminal convictions can be reported
without any time limit.
Adding Accounts to Your
File
Your credit file may not reflect all your credit accounts. Although most
national department store and all-purpose bank credit card accounts will
be included in your file, not all creditors supply information to CRAs:
Some travel, entertainment, gasoline card companies, local retailers,
and credit unions are among those creditors that don't. If you've been
told you were denied credit because of an "insufficient credit
file" or "no credit file" and you have accounts with
creditors that don't appear in your credit file, ask the CRA to add this
information to future reports. Although they are not required to do so,
many CRAs will add verifiable accounts for a fee. You should, however,
understand that if these creditors do not report to the CRA on a regular
basis, these added items will not be updated in your file.
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