Disputing Inaccurate Information By FederatedCreditCards.Com Copyright © 2008

As you probably know, you are entitled by law to a free annual copy of your credit report. Not just one, but three, one from each major credit reporting bureau. By obtaining these reports you can read for yourself what the companies are reporting to lenders about you and the state of your finances. Federal law grants you the right to review your credit history, and you also have the right to correct it or at least dispute inaccurate information.

Review your credit reports, --a copy from each credit bureau, preferably recent copies, and check to see if there are errors or mistakes in the information. If you find an error that would negatively impact your credit score, immediate correction is absolutely necessary. To dispute the inaccurate information you have to notify the credit bureau that is reporting the information in writing. Include a copy of the credit report and indicate the error, along with your signature. If possible include proof of the error such as a bill, or receipt, or court records. Only send copies, not originals.

You are protected by United States law and now that the credit bureau has received your report of the inaccurate information they are required to investigate your claim within thirty days, unless your claim is thought to be completely frivolous.

The credit reporting bureau is required to send all relevant information you provide about the error to the company or organization that originally reported the incorrect information. After having received this notice, the original information provider is then required to investigate and review the information. Once the investigation is complete the credit reporting bureau will send a detailed letter stating their findings, and a corrected copy of your credit report, for free. Also, if you request it, the credit bureau is required to send the corrected version of your credit report to any agencies that have reviewed your credit report in the last six months, --hopefully rectifying any case in which you were rejected for credit based on inaccurate information. Moreover, you can have the corrected report sent to any potential employer that recieved your credit report over the past two years.

If the credit bureau does not change your credit report despite their investigation, by request you can have them add details of the dispute to your credit report, explaining your side of the story.

For information on how to contact Equifax, Trans Union, and Experian please see our learning center article Get a Free Copy of Your Credit Report