How to Correct Mistakes in Your Credit Report

Do You Know What Information is on Your Credit Report?

The first step is to request your own credit report.  This should be done every 3-5 years and before you consider applying for any loan.  To find out the many benefits of getting your own credit report, see the related article in our Reference Library, entitled, "Protect Your Credit".

One of the benefits is to identify and errors that may exist on your credit report.  These errors DO occur, and they can have serious consequences on your credit rating. 

What You Will See on Your Credit Report

Once you receive your credit reports from the three main Credit Bureaus, you will see listings related to your credit card, mortgage, auto loans, and any other existing credit sources.  Each will show your current balance, and any balances outstanding at 30-60-90 days.  It will also show any past, paid off credit transactions, your address history, and other assorted information.

How to Find Errors

Thoroughly review all of the information that is listed and compare it against your records.  This may take some time but is well worthwhile.  Get a pad and note any discrepancies against your own records, or any listed creditors with whom you have never had any transactions. 

How to Dispute Errors

Once you have listed all the errors on the reports, you need to send a written "dispute" to the credit bureau(s).  Here are the addresses and websites for the Credit Bureaus to lodge a dispute:

Equifax Credit Information Services, P.O. Box 740256, Atlanta, GA 30374 

1-800-685-1111     Website:  http://www.equifax.com/

Experian - National Consumer Assistance Ctr., P.O. Box 9701, Allen TX 75013 

1-888-397-3742      Website:  http://www.experian.com/

Transunion Consumer Solutions, P.O. Box 2000, Chester, PA 19022 

1-800-888-4213  Website:  http://www.transunion.com/

Fair Credit Reporting Act

This consumer protection act requires that your dispute be investigated and expunged from your record.  It is important to follow up until you receive confirmation of the correction, or notification from the Credit Bureau that they have verified with the creditor that the information is, in fact, correct.  See Related Article entitled, "Fair Credit Reporting Act".

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