Fix Credit Report Errors: Learn How

This is a step by step guide that will give you the tools to fix inaccurate information on your credit report. First you need to check when the information being reported is set to expire. Next use our customizable dispute letter, and sent it to the Credit Bureaus. It is really that simple.

Step 1: Look for incorrect information being reported about you:

Order a current copy of your credit report with scores from all 3 Bureaus online. Print your credit report and view it carefully. Make note of any information that is not correct. Determine when the information is set to expire. This guide will help you determine if and when the negative information on your credit report will expire.

Public Records:

a.Bankrupcties- Chapter 7 Bankruptcy will expire from your report after 10 years of file date. Chapter 13 will expire from your report after 7 years from file date.

b. Judgements- Court ordered decisions stay on your credit report for 7 years from file date. Example: child support, civil and small claims court.

c.Tax Liens- Tax liens stay on your credit report until you pay it off. Once you have paid the tax lien, it will stay on there 7 years from paid date. This applies to City, State, and Federal tax liens.

Charge โ€“off โ€“ records- this record will show up on your credit after a creditor has wrote off the debt as a loss. This will remain on your file for 7 years.

Inquiries- Records of application for credit. These types of inquires usually stay on credit for a maximum of 2 years. Checking your credit online with credit sores does not damage your credit like these inquires do.

Closed Accounts- This information whether negative or good stays on your credit report for 7 years.

Collection Accounts- This record should expire after 7 years from the last 180 day late payment that led the account to collection to begin with. The expiration date is the same even if the collection is sold multiple times.

Foreclosure Records- Foreclosure and property deed-in-lieu records remain on credit for 7 years from foreclosure date.

Late Payments- Late payments stay on record for 7 years.

Repossession Records-Vehicle repossessions stay on you credit report for 7 years.

Use this expiration information to determine what should not be on your report. You should also check for information that is being reported on there that is not yours. Also make sure there is no information that are cross records either.

Step 2: Write Dispute Letter

Once you have determined what is not correct on your report, it is time to write you disputes to the Bureaus. You will need to send the letter to each of the credit bureaus via certified mail.

Example dispute letter:

Date

Your NameMailing AddressCity, State, Zip

Re: Disputing Inaccuracies on My Credit Report

Name of Credit Reporting Bureau Mailing Address City, State, Zip

Dear Sir or Madam:

I am writing for two (2) reasons:

1. To dispute certain information in my credit file; and

2. To have you investigate/re-investigate and remove inaccurate information from my Credit Report and prevent its re-insertion. The item(s) I dispute are encircled on the attached copy of the credit report and further identified by (identify the items by name of source, such as creditor or tax court, etc. and identify type of item, such as credit account, judgment, etc.)This item is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be deleted (or whatever specific change you are requesting) to correct the information.(If you are enclosing documents such as copies of canceled checks, payment records, court documents, send copies only, you should always retain the originals — and use the following sentence.)

Enclosed are copies of the following documents supporting my position?

1.

2.

3.

Please reinvestigate this (these) matter(s) and (delete or correct) the disputed items within the time frame required by the Fair Credit Reporting Act (FCRA) and inform me in writing of the outcome. Thank you for your time and consideration in this matter.

Sincerely,________________________

(Signature)Your name

Step 3: File your dispute

Submitting your dispute by mail is the suggested way, but only Equifax and Transunion allows this kind of dispute. Experians requires all disputes to be submitted online.

Here is the 3 Credit Bureaus information.

Equifax

P.O Box 740256

Alanta, GA 30374-0241

Dispute online

Experian

Dispute online

TransUnion

2 Baldwin PlaceP.O. Box 2000

Chester, PA 19022

Dispute online

Step 4: Manage Results

The 3 Credit Bureaus have 30 days to investigate your dispute and update your credit report if the dispute is valid. Once they have investigated your concern, they will send you a letter stating what was updated on your credit report. If you were not able to get a inaccuracy fixed you will need to resubmit your dispute with new documentation.

CreditScoreQuick.com



4 Responses to “Fix Credit Report Errors: Learn How”

  1. John Jones says:

    Thanks for this helpful credit advice, many people can benefit from this information.

  2. rioca smith says:

    thx for this info
    i have a new credit card (my first one)
    if i have a problem i will know wath to do

  3. This is the first place I visited that actually helped me. I have learned all the details for the most part in disputing a credit report error but never had it laid out step by step along WITH a sample dispute letter. Thank you.

  4. Very nice easy to follow directions to dispute credit mistakes. Atleast if you have a copy of your current credit report, you can make sure items that are older then 7 years can be removed and help your credit score.

Disclaimer: This information has been compiled and provided by CreditScoreQuick.com as an informational service to the public. While our goal is to provide information that will help consumers to manage their credit and debt, this information should not be considered legal advice. Such advice must be specific to the various circumstances of each person's situation, and the general information provided on these pages should not be used as a substitute for the advice of competent legal counsel.