How to Dispute Credit Report Errors
Date: February 16, 2023
Credit reports can affect more aspects of your life than you realize. Whether you’re applying for a credit card, buying a car, renting an apartment, applying for a job, getting insurance, or purchasing a home, someone is likely to use at least one of your credit reports to evaluate you and make decisions about your credibility and creditworthiness.
Request Reports – Your credit report contains information about you and how you have managed credit accounts. The three major credit bureaus, Experian, Equifax, and TransUnion, each maintain separate credit databases and generate their own reports. As a result, these reports may differ, so getting a copy from all three credit bureaus is vital.
You can get your free credit reports online from AnnualCreditReport.com. Or, stop by Ouachita Real Estate M-F from 8:30am-4:30pm to pick up an Annual Credit Report Request Form to submit your request by mail.
Look for Errors – Credit bureaus and the organizations submitting information to them sometimes make mistakes. After obtaining your credit reports, check for inaccuracies. A study by the Federal Trade Commission found that 1-in-4 consumers identified errors on their credit reports that could affect their credit scores. Accounts you don’t recognize could signify identity theft. Monitoring credit reports is an effective way to discover identity theft in its early stages.
Dispute Inaccuracies – If you find an error on your credit report, contact the credit bureau whose report contained the error and the company that provided the information to the credit bureau.
When submitting a dispute by mail, include your contact information (full name, current address, and telephone number), your social security number and date of birth, a copy of the credit report highlighting the disputed items, an explanation of why the information is incorrect, and copies of any supporting documentation. Once your letter is received, it can take 30 days or more to resolve a dispute.
Mailing addresses for the credit bureaus are as follows:
Equifax
P.O. Box 740256
Atlanta, GA 30348
(866) 349-5191
Experian
P.O. Box 4500
Allen, TX 75013
(888) 397-3742
TransUnion
P.O. Box 2000
Chester, PA 19016
(800) 916-8800