Most people have several errors on their credit report!
These errors or inaccurate reporting of your personal information could cause you to pay higher interest rates or even be denied for credit!
3 basic, major credit reporting agencies
- Experian
- Equifax
- TransUnion
What to do if you find errors?
Prepare your written PROOF (cancelled check, bank statement, etc.) showing that this debt was paid.
Circle the error of the page in your credit report that has the error
Print a copy (PDF) of that page (not the entire CR).
Write a brief explanation of why you are disputing this entry/information.
SAMPLE DISPUTE LETTER FOR EXPERIAN
Experian
P.O. Box 9701
Allen, TX 75013
RE: Your Name
Your Address
City, State, Zip
Your email address
Your Social Security Number
Your Date of Birth: Month/Day/Year
I am disputing the reported information for my (CREDITOR) account ending xxxx.
(See the page of my credit report with this error.)
This account has been settled or paid off and has a $0 balance.
See the letter/statement from the creditor/collector.
Please correct this error and email or send me a copy of the corrected credit report.
_________________________________
Print your name here and sign above
____________________
Enter todays date above
Now what?
You are going to go online and open disputes with each credit bureau that is reporting the error.
Going online is much quicker and easier than calling or sending your information by mail.
Each bureau has it's own website. You'll find that it fairly easy to follow the instructions. Here are the links:
What next?
Follow the instruction for each bureaus dispute page.
You will upload:
- explanation letter
- page with error circle
- proof of your dispute
It takes 45 days or more for them to correct the dispute or communicate with you.
Follow up with each bureau by going online to check if error has been corrected.
What if your DISPUTE IS DENIED?
Your credit report should list the creditor, collector or the company who may have bought your account.
You will need to contact them and find out what is going on!
If you still owe the debt, you should be able to negotiate a settlement.
Not easy, but possible.
If you need advice or help:
Hope this helps!
