How To Correct Credit Report Errors

Did you find an error on your credit report? If so, what should you do about this?

When you have your personal credit report and comprehend it, you might decide that you may need to fix several errors.  Errors on credit reports are frequent, and require fixing, simply like the repairs you make on anything else that has been used for a while.  There are 2 ways to fix your credit report.  The first way is free, and the second will cost you money. Depending on how bad these credit reporting errors are, the amount of time it will take to fix them, and other details, you might have no option in what route to pursue. 

The most common and free way to correct an error on a credit report is by filing a dispute directly with the credit report agency.  After you initiate this dispute the agency will open up a claim and you will be responsible for proving it.  Your responsibilities consist of providing documentation, receipts, and sometimes, notarized letters.  Generally, the agent with whom you file the claim will have you send this information right away, with the purpose of speeding up the process.  This will have the need of mailing the pertinent information to an address at the agency that resolves disputes.  Fixing an error on your credit report might hardly ever be achieved without the correct documentation; therefore, good financial record keeping is important. 

Credit report repair services are your other alternative. These will request a payment up front and payments each month thereafter.  Needless to say, Equifax, TransUnion, and Experian do not approve of credit report repair companies.  Acting on your behalf, the credit report repair service acquires your credit report, and then by using the fair credit reporting act and planned strategies, disputes any items that you point out to be incorrect.  Some companies will even provide you with an upgraded service monitoring your credit report for future damage.  This alternative of credit report repair is much pricier, but is not nearly as time consuming or nerve racking as handling the disputes yourself. 

Dispute resolution will take some time regardless of which option you pick.  Both will require that on a regular basis you obtain credit reports from all 3 agencies. 

The credit reporting agencies will have 30 days to respond to your dispute, but the procedure of complete resolution can take much longer than that.  Whichever process you end up choosing, the key to your success is to have patience and persistence.