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How To Dispute Your Credit Report Information

by Lisa_Carey

Errors on your credit report may take a variety of forms from
simple spelling errors or no new address reported to fraudulent
uses of your credit to obtain financing for purchases. There are
two different ways to correct or �dispute� this information;
online or in writing.

If you need a credit report visit �An Overview of the Fair
Credit Reporting Act�
http://www.identitytheftsecrets.com/an_overview_of_the_fair_credit_reporting_act_what.html
for information on how to obtain your free credit report and why
you are entitled to one.

Here is a step by step process for disputing your credit report
information:

It is important that you receive your credit report from all
three major credit reporting agencies: Equifax-800-685-1111
www.equifax.com ; Experian-888-EXPERIAN (888-397-3742)
www.experian.com ; TransUnion-800-916-8800, www.transunion.com:
as different credit companies report to different agencies. Not
all creditors use only one and the incorrect information may
appear in different reports. You may obtain your credit report
online for free one time a year, with each additional report
costing and additional sum, usually $10.00. If you are obtaining
your first free annual credit report it will include all three
agencies, you do not need to request one for each. However, you
may find it more cost effective to use a credit monitoring system
with a yearly fee that gives you all three credit reports in one
on a periodic basis which you determine.

Next, review your credit report and mark the incorrect
information. You may wish to print your report out to do this �
especially if you have several mistakes or errors. Be sure to
record the name, address, amount and account number if available
in your notes.

Third, write the credit reporting agency a letter indicating
that specific information if incorrect.

Fourth, attach to the letter any supporting documentation to
dispute the inaccurate information. I recommend that one of your
attachments be a copy of your credit report with specific errors
circled or noted in some manner. You may wish to number them and
then address as each numbered point within your letter,
especially if you have several errors or mistakes. For example,
there were errors on my credit report that all listed a false
address and a variation of my name. I provided proof of my name
over the period of several years, proof that the address did not
exist and proof regarding my primary address that was listed on
one, as it was not my address but a rental property.
NOTE: The most important thing you need to do when attaching
documents is to include COPIES. Do not send originals as you may
need that information for another report or in the future.

Fifth, write another letter to the credit lender providing the
information. Indicate to them that you have filed a dispute with
the credit reporting agency (Naming it specifically) and provide
a copy of supporting documentation of the dispute to that
information provider also.

If you are using a credit monitoring system online you may be
able to eliminate many of these steps. In many of the better
versions of a credit monitoring system, as you pull up the
details of each account it offers you the option to �dispute� the
information. You simply click on dispute and it will
automatically pull up the account information you are disputing.
You then has a small amount of space to indicate why you dispute
the information and click submit.

After filing either your written letter or online dispute the
credit reporting agency will investigate the information and
determine if your dispute is accurate or not. They also forward
all the information you have provided to the credit lender.
Usually within approximately 30 days a decision is made as to the
accurateness of the information and the credit lender must
provide all three major credit reporting agencies with the
corrected information. Also when the investigation is complete,
you are entitled to the results in writing; a free corrected copy
of your credit report; and if you request it a corrected copy of
your credit report may be submitted to other credit providers
that you may be trying to obtain credit from. For example, you
may discover the errors while attempting to purchase a car or
home. A corrected copy will be provided to the lender upon your
request. If your dispute is denied, resubmit it with additional
documentation or contact the credit reporting agency to determine
what information would be convincing.

Disputing your credit is not something you need to hire a
specialist to do, and many of those �get help repairing your
credit report� programs are scams that are used to obtain your
information for their own identity theft purposes or just to make
money. Remember, negative information on your report that is
correct can not be removed, no matter what someone may offer.
This is a simple easy process, which involves very little cost to
you. The only cost you incur is your postage and copies. For just
a few dollars and a little effort you can save yourself money and
permanent damages to your credit report. It�s well worth the
effort.

Sample letter:

* Date
Your Name
Your Address, City, State, Zip Code
Complaint Department

Name of Company
Address
City, State, Zip Code

Dear Sir or Madam:

I am writing to dispute the following information in my file. I
have circled the items I dispute on the attached copy of the
report I received.

This item (identify item(s) disputed by name of source, such as
creditors or tax court, and identify type of item, such as credit
account, judgment, etc.) is (inaccurate or incomplete) because
(describe what is inaccurate or incomplete and why). I am
requesting that the item be removed (or request another specific
change) to correct the information.

Enclosed are copies of (use this sentence if applicable and
describe any enclosed documentation, such as payment records,
court documents) supporting my position. Please reinvestigate
this (these) matter(s) and (delete or correct) the disputed
item(s) as soon as possible.

Sincerely,
Your name

Enclosures: (List what you are enclosing.)

* Source: Federal Trade Commission

Lisa Carey is a contributing author for <a
href="http://www.identitytheftsecrets.com" title="Identity theft
protection and solutions">Identity Theft Secrets: prevention and
protection</a>. You can get tips on Identity theft protection,
software, and monitoring your credit as well as learn more about
the secrets used by identity thieves at the <a
href="http://www.identitytheftsecrets.com" title="Identity theft
blog">Identity Theft Secrets blog</a>.

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