How To Dispute Any Item On Your Credit Report

Posted on May 3, 2007

Credit bureaus collect billions of pieces of information every month.  Lets just say for example they have a .01% error rate, even though its probably higher.  That translates to millions of mistakes each month.  Bottom line is we all need to be responsible for ensuring our credit report is as accurate as possible.  Below I am going to give you step by step how to dispute any item on your credit report.  Do not fall for the scam businesses that state they can repair your credit for you in so many days.  It’s a scam.  Either they are making false promises or they are doing what I am about to describe below and can therefore do yourself.

  1. Obtain your credit report.  To order your free report, go to www.annualcreditreport.com, and either order your report directly, download a form to mail in your request or call 877-322-8228.  You can also go to one of the three major credit reporting companies Equifax, TransUnion, and Experian and pay for your credit report.
  2. Create a detailed list of items you believe to be inaccurate, incomplete, or outdated.   Remember to check your report for items that do not belong to you and list those as well.
  3. Fill out a “Request for Reinvestigation” dispute form and send back to the credit reporting company that supplied the report.  The form comes with the credit report and can be completed in writing.  If you do not have the form, a typed letter detailing the incorrect information will be fine.  A good template letter can be found here.  If you are right or if the creditor can no longer verify the information, the credit reporting company must remove or correct the information.  If you are lucky, the credit reporting company will just fix the incorrect information if they feel it is not worth their time to investigate.
  4. Keep excellent and detailed records.  Your records should include copies of all correspondence, dates, and names of people you spoke with on the phone.
  5. Directly contact the creditor or collection agency.  Ask the creditor or collection agency to verify the information on your credit report is incorrect or inaccurate.  Demand that they tell the credit reporting company to correct the situation or send you a letter stating the information is incorrect or inaccurate.  This may be a situation you have to ask for supervisor, manager, or whoever to get this done.
  6. If the credit reporting company still does not comply by responding or correcting information, send a follow up and final letter.  Repeat aggressively your situation and threaten legal action if necessary.  You can also send copies of your letter and original request form to the Federal Trade Commission: Consumer Response Center, Washington, DC 20580, 1-877-382-4357.
  7. Add brief statement to your credit report if still no resolve.  Under the Fair Credit Reporting Act you have the right to add a statement to your credit report of up to one hundred words for any clarification necessary on specific items.  I would recommend doing this only if you have a very good report with one incorrect blemish that cannot be corrected by all other means. 

In conclusion, just remember to never use a credit repair clinic as they are often times for profit businesses that will be doing nothing more than the above at best and at worst will do nothing.

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    » Filed Under How To, Credit Repair, Credit Report, Credit History

    Comments

    2 Responses to “How To Dispute Any Item On Your Credit Report”

    1. Q from $1 Million to My Name on May 3rd, 2007 1:17 pm

      One of the three credit reporting agencies has my year of birth as 1930 (it’s really 1970). So I get all this retirement-related junk mail. It’s kind of funny - I get invited to more free 4:30pm dinners put on by financial advisors. My wife and I have yet to go. I figure if we do go, we’ll be the only couple in our 30’s there. If they try to kick me out, I’d just say, “You’re the moron that invited me.”

      I have never ordered a free credit report. Are they any good? Are they limited in scope when compared to a report that you buy?

    2. Bad Credit Restoration » Credit repair form letter on June 30th, 2007 5:42 am

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