Credit report mistakes are more common than you think. Federal Trade Commission studies have found that almost 15% of consumers have an error on at least one of their credit reports. Try not to freak out if you find any mistakes; it’s very common and more than likely can be solved!
There are several ways to approach errors on a credit report. The first way is to do it yourself. This is a great option if you’re a great detective, are skilled at documentation, and have the time available. Here is how to get started on improving the accuracy of your credit report.
Whatever you do, be sure to record everything. Keep records of all of the letters you send and recieve, every phone call, and request return receipts so you know your letters are received. Also, be sure to send copies of any paperwork and keep the originals for yourself.
Put it in writing.
You can either mail a letter (double check the address) to dispute an error with each bureau, or you can submit them online through their websites. Note: usually the time it takes for a credit bureau to respond and resolve a dispute is within 30 days.
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Be clear and concise.
Always explain your situation clearly and simply when you dispute something. Give the agencies only the key facts so that they can really understand the situation. Adding irrelevant information can cause confusion on your case, especially when they’re learning about your situation for the first time.
Fixing your own credit is always an option, and at no extra cost (if you know how to do it), especially for obvious or simple errors.
Too much to deal with right now? Consider working with a credit repair company if you are having second thoughts about doing it yourself.